Simeoni always provides us with a reliable and professional service throughout the audit period and post audit on follow up matters. All identified issues reached a prompt resolution and most importantly the attitude from the audit team was always positive and supportive. I felt the whole process was well managed and the auditors were most helpful, informative and friendly. We will continue to work with the Simeoni audit team in the future.Deanne Bennett. Managing Director at Bennett Property Management Pty Ltd.
Real Estate Audit Useful Tips
25-Jul-2012 Real Estate Trust Account Audited Reports are due 30th September 2012! 
Simeoni would like to give you some useful tips in order to be ready and organised.
For over 20 years Simeoni has delivered tailored services to Real Estate Agents.
This has led to a dedicated division within Simeoni tailored 100% to Real Estate Agents and their needs.
We have created a checklist that our real estate clients should look at before we come and visit for the audit:
• Attend to breaches from previous years. The OFT are following up and penalizing agentswho repeatedly breach
• Ensure that all outstanding cheques and deposits over 2 years have been sent to the OFT
with an unclaimed monies form
• Ensure that June 30, 2012 has no anomalies, outstanding deposits greater than 2 days,
unexplained adjustments etc• Try to keep banking within the 2/3 days rule
If you keep records manually:
• Every month must have a reconciliation even if there are no transactions• You must have a bank reconciliation, cash book and trial balance forevery month• Receipts and deposits must be provided and correspond tothe appropriate transactions• A ledger per owner (landlord) must be kept• If you feel your records do not comply we have developed a manual setof templates to help get you started at a fee of $ 250 plus GST
If you have any questions please contact us to speak with our friendly real estate specialists.
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