AUDIT & COMPLIANCE
Our specialist real estate knowledge, procedures and standardised approach provides for an efficient and value added service when it comes to auditing real estate trust accounts on an annual basis.
Today more emphasis is being placed upon compliance with legislative requirements. Consumer Affairs Victoria, in recent times have been very active in monitoring real estate agencies’ compliance with audit deadlines. They are also increasingly undertaking inspections, attending auctions and requesting information pertaining to property quotes with a particular emphasis on identifying underquoting.
Critical audit areas that we test include:
- New agents representatives
- Trust accounting titling and reconciliations
- The timeliness and completeness of receipting and payment practices
- Sales file compliance
- Property management file compliance
The benefits of conducting an audit include:
- Ensuring compliance with the Estate Agents Act 1980 and its rules and regulations
- Examining the quality of processes and procedures relating to sales, rentals and other practices
- Assessment from an independent third party
- Assisting to protect the interests of public trust money processed through trust accounts
Our audit fee structure is based on:
- The number of trust accounts
- The complexity of your trust accounting
- The volume of transactions for both sales and properties managed
For a quote or a confidential discussion, please call James Dalton directly on 0418 776 912.