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TRUST ACCOUNT AUDIT
The purpose of a compliance audit of a real estate agent’s trust account is to report on whether:
• accounting and other records relating to trust monies have been properly kept;
• there is no loss or deficiency of trust monies or failure to pay or account for trust monies &
• there has been no failure to comply with a provision of the relevant Act or Regulations
HOW OUR SERVICE WORKS
REAL ESTATE
Our fixed fee for the audit is based on the number of trust accounts you have, the number of rental properties you manage and the number of properties sold if applicable.
Once we have determined the scope of the audit, we will advise you our fees and you can choose to engage us as your trust account auditor.
We will send you our Engagement Letter to formalise the relationship and we will prepare the Agent Representation Letter for you for your convenience. Both of these will need to be signed by you.
We will then arrange a time and place to audit your files at your premise.
After the visit, you will be issued an invoice for the service.
Upon receipt of payment, we will send you our Management Letter with our opinion for the audit performed and the Independent Assurance Report for your submission with Consumer Affairs Victoria or Office of Fair Trading (NSW/QLD) whichever is applicable for your state.
SOLICITORS
Our fixed fee for the audit is based on the number of trust accounts you have and the number of transactions that took place during the year.
Once we have determined the scope of the audit, we will advise you our fees and you can choose to engage us as your trust account auditor.
We will send you our Engagement Letter to formalise the relationship.
We will then arrange a time and place to audit your files at your premise.
After the visit, you will be issued an invoice for the service.
Upon receipt of payment, we will send you our External Examiner's Report with our opinion for the audit performed which will be submitted to Law Society of the relevant state.
HOW YOUR AUDIT REPORT IS DELIVERED
All letters and reports are sent via email as an attachment.
We will upload all correspondence and associated attachments sent to you on Dropbox. We will share this folder with you so you have access to the documents in case you cannot retrieve them from your inbox.