Are you aware of the documents required to be kept in your Real Estate audit file? Contrary to popular belief, the audit file is not your monthly trust accounting records, although they will be something required to be sighted by your auditor, an audit file directly relates to the documents that facilitate the setting up and statutory obligations in meeting the trust accounting ... read more >>
Wouldn’t it be lovely to receive notification from the NSW Fair Trading Office that your Real Estate agency was undergoing an audit? It would give you time to ensure documents were up to date, training completed and trust accounts reconciled! NSW Fair Trading doesn’t give you a heads up as many agencies have found over recent weeks. In recent articles ... read more >>
In my previous post I explained in 10 easy steps the process for registering existing trust accounts under the new legislation which was effective 1st January 2015. The following is the process for closing an existing trust account in 8 easy steps which replaces the previous GREEN FORM requirement from Fair Trading. Go to the OneGov website. Hover on the services link ... read more >>
