Real estate audit deadlines – An update from NSW Fair Trading

Licensees are reminded that the deadline for real estate audits is 30 September 2018. The qualified audit must be lodged within 3 months after the end of the audit period and for most agents, must be submitted by the due date.

If a qualified trust account audit is not lodged by the due date, licensees could be disqualified from holding a licence and possibly prevented from renewing a licence.

Note that the auditor is required to lodge a copy of the qualified audit with Fair Trading within 14 days after providing the report to the licensee.

For more information, visit the trust account audit requirements page on the Fair Trading website.

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