Are you certain you comply with Trust Account Legislation?

26-Jun-2013 Simeoni is getting ready for the upcoming Real Estate Trust Account Audit Season. Our real estate experts believe that it is useful for you to know that over the past 20 years the most common breaches and non compliances of trust account record keeping is when one of the following had occurred. 

• Purchased a new business 
• Set up real estate business from scratch 
• Changed financial institutions for trust accounts 
• Change of staff involved in record keeping 
• Change of software systems 

If any of these circumstances have occurred then there is a higher probability of breaches in the upcoming mandatory audit required by NSW Fair Trading. 

Call us for a review of your trust account records so that any breach may be able to be rectified by year-end and reduce the possibility of fines over $5000.00 and/or a surprise inspection from the NSW Fair Trading. 


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