Real Estate Trust Audit - Simeoni

Real Estate Audit

Real Estate Trust Audit Services for Australian Agencies

At Simeoni, we specialise in delivering expert real estate trust account audits tailored to meet the strict regulatory requirements of Australian states. With over 20 years of experience working with real estate agencies and property managers, we provide precise, efficient, and compliant auditing solutions that safeguard your trust accounts while ensuring peace of mind.

Our services are designed to protect your business’s reputation, maintain compliance with legislative requirements, and foster trust with your clients.

Why Are Trust Account Audits Important?

A trust account audit verifies that the funds you manage on behalf of your clients are handled correctly and comply with the regulations outlined in state-specific laws. These audits are mandatory for all real estate agencies managing client funds and are critical for:

  • Ensuring accurate financial records.
  • Demonstrating your commitment to ethical practices.
  • Protecting your agency from regulatory penalties and legal issues.

Unlike generic auditing services, our real estate trust audits are specifically designed to address the complexities of managing trust accounts in the property sector. This ensures every dollar is accounted for, and your processes align with the latest legal requirements.

Why Choose Simeoni & Co for Your Trust Account Audits?

1. Tailored Expertise for Real Estate Professionals

We understand the nuances of trust account management in the real estate sector. Our specialists are trained to identify potential risks and provide practical solutions tailored to your business needs.

2. Beyond Compliance: Strategic Insights

Our audits don’t just tick compliance boxes. We deliver valuable insights to improve your financial processes, reduce risk, and enhance operational efficiency.

3. A Partner You Can Rely On

With over two decades of experience, Simeoni has built a reputation as a trusted advisor to real estate agencies. Our focus is on creating long-term partnerships through transparent communication and reliable support.

4. Minimal Disruption to Your Operations

We know your time is valuable. That’s why our streamlined audit process is designed to minimise disruptions, allowing you to focus on serving your clients.

5. Comprehensive Post-Audit Support

Unlike many competitors, we don’t stop at delivering the report. Our team is available year-round to assist with implementing recommendations, navigating regulatory updates, and preparing for future audits.

We can help you build a clear picture of what’s happening in your business at any given time during your property’s life cycle. As auditors, Simeoni is proud of delivering an excellent, non-fuss and straightforward audit service customised to the needs of real estate agents as follows;

  • Upfront & fixed pricing
  • Value for money
  • Helping you to avoid future breaches
  • Minimal disruption to your business
  • Immediate feedback and status updates
  • Friendly specialist team
  • Highly acclaimed and efficient audit process
  • Lodgement on your behalf by the due date
  • NSW Fair Trading representation
  • Peace of mind

It is compulsory for real estate agents to have records audited in relation to the handling of trust money. Licensees could be disqualified from holding a licence and possibly prevented from renewing a licence if the audit is not conducted by the 30th September of each year.

Our Real Estate Trust Audit Services

We offer a full suite of audit and compliance services for real estate agencies, tailored to meet the unique needs of your business.

1. Trust Account Audits

Our thorough audits verify that all trust account transactions comply with state legislation and industry best practices. We identify discrepancies, provide actionable recommendations, and ensure your accounts are fully compliant.

2. Compliance Assurance

We help you stay ahead of regulatory changes with compliance checks that align your trust account processes with the latest requirements.

3. Risk Mitigation and Process Optimization

Our audits go beyond identifying errors. We analyze your operations to suggest improvements that reduce risks and streamline trust account management.

4. Reporting and Representation

We deliver clear, concise audit reports that are easy to understand and actionable. If needed, we can also liaise with regulatory authorities on your behalf.

5. Ongoing Support and Advisory

As part of our commitment to long-term partnerships, we provide year-round advice to help you navigate complex trust account requirements with confidence.

Frequently Asked Questions

Who needs a trust account audit?

All real estate agencies and property managers in Australia managing client funds in trust accounts are legally required to conduct annual audits.

What happens if discrepancies are found during the audit?

If discrepancies are identified, we provide clear recommendations to address them and support you in implementing corrective measures.

How do I prepare for an audit?

Our team will guide you through the preparation process, outlining the documents and records required for a smooth and efficient audit.

Contact Simeoni for Your Trust Audit Needs

Your clients are your priority, and your business’s financial health should be, too. Let us handle your real estate trust audits so you can focus on serving the people who matter most.

Have a problem with your Real Estate Audit? Contact us today for a fixed price quote.

Useful Forms

Unclaimed Money

Trust Account Audit Checklist

Latest Property Stock and Business Agents Regulation

Notice of Opening and Closing a Trust Account

Unique Identifying Number

NSW Fair Trading Trust account audit requirements

Under the ’Property Stock and Business Agents Act 2002’, licensees records in relation to the handling of trust money must be audited by 30th September each year.

Who requires an audit?
  • a licensee
  • a former licensee, or
  • a personal representative of a licensee.
  • NSW Fair Trading requires an audit to be conducted each year for the financial year ending 30 June.
Relevant information Refer to NSW Fair Trading for further information Click Here

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