We endeavor to keep up with the latest regulations and policies when we conduct our audits. Each fund is unique in its investment portfolio and management, we fully corporate this understanding in our audit processing.
Real Estate Trusts
In Victoria, estate agents must establish and maintain a trust account that complies with the Estate Agents Act 1980 and the Estate Agents (General, Accounts, and Audit) regulation 2008. The audit of your trust account is due by the 30th September of each year and is regulated by Consumer Affairs Victoria.
In Tasmania, property agents must maintain a trust account that has to be audited as required by Section 31 of the Property Agents and Land Transactions Regulations 2006. The Audit period is the financial year (July to June) and the audit must be done within 3 months of the end of the financial year.
In NSW, estate agents must establish and maintain a trust account that complies with the Property, Stock and Business Agents Act 2002 – Section 111 & 113 and Property, Stock and Business Agents Regulation 2014. The audit of your trust account is regulated by the Office of Fair Trading, New South Wales and the due date of qualified reports is by 30 September of each year.
In Queensland, estate agents must establish and maintain a trust account that complies with the Agents Financial Administration Act 2014 and the Agents Financial Administration Regulation 2014.