Estate Agent Trust Account Audits
Independent Trust Account Audits & Compliance Support for Real Estate Agencies in VIC & NSW
Consumer Affairs Victoria
Independent trust account audits prepared in line with Victorian estate agency trust account requirements and reporting timelines.
NSW Fair Trading
Trust account audit services for NSW real estate agencies in accordance with applicable trust account and reporting requirements.
Risk & Record Review
Review of trust ledgers, bank reconciliations, receipts, payments and supporting accounting records to identify discrepancies or control issues.
Qualified Independent Auditors
Experienced Chartered Accountants providing independent trust account audit services and timely reporting.
Why Estate Agent Trust Account Audits Matter
Managing a real estate trust account carries significant regulatory and record-keeping responsibilities. An independent audit helps verify that trust records are complete, reconciliations are accurate and reporting obligations are being addressed appropriately.
Support compliance with applicable state trust account requirements
Identify accounting errors, omissions and unexplained discrepancies
Review monthly bank reconciliations and cashbook accuracy
Provide an independent check of trust accounting records and controls
Support timely preparation and submission of required audit reports
Help agencies address issues before they become more serious
Our Approach
Technology-Supported Estate Agent Trust Account Audits
We use modern accounting technology to support efficient record review, reconciliation checks and a well-organised trust account audit process.
Annual Audit Requirements: Victoria (Consumer Affairs Victoria)
Audit Period
1 July to 30 June each year.
Annual Audit Requirement
Trust accounts must be audited annually, within three months after 30 June, by an approved auditor.
Record Retention
Trust accounting records and the signed auditor’s report must generally be retained for at least seven years.
Monthly Reconciliations
Trust accounts must be reconciled monthly, with the reconciliation verified within 14 days after the end of each month.
Annual Audit Requirements: New South Wales (NSW Fair Trading)
Audit Framework
Trust account audits are governed by the and related regulations.
Annual Audit Requirement
Licensees who received or held trust money during the audit period ending 30 June must have their trust account records audited by a suitably qualified auditor.
Lodge Deadlines
The audit must be completed and submitted online through the by .
Late Lodgment
Failure to lodge by the due date can result in disciplinary action, fines and difficulties renewing a licence. The licensee remains responsible for ensuring the report is lodged on time.
Need Help With Your Annual Trust Account Audit?
Get practical guidance on audit timing, preparation and statutory reporting requirements for real estate agencies in Victoria and NSW.
What Our Clients Say
FAQ
Your Questions, Answered.
Every business is different. Let's find the right answer for yours.
Estate agents who receive or hold trust money may be subject to statutory trust-account audit requirements. The exact obligations depend on the applicable state legislation and the agency's circumstances.
Records commonly include trust bank statements, cashbooks, ledgers, receipts, payments, reconciliations and supporting property or client records. Complete and orderly records make the audit process more efficient.
The audit frequency and lodgment deadline are determined by the relevant state requirements. The agency should confirm its reporting period and arrange the audit early enough to meet the statutory deadline.
Common issues can include late or incomplete reconciliations, unsupported adjustments, recordkeeping gaps, incorrect transfers and differences between trust records and bank balances.
Ensure reconciliations are current, investigate outstanding items, organise bank statements and trust records, and make supporting documentation readily available to the auditor.
Ready to complete your Estate Agent Trust Audit?
Arrange your annual trust account audit with experienced auditors supporting real estate agencies across Victoria and New South Wales.
