Information for auditors of real estate and conveyancer trust accounts.
How do I lodge an audit of a trust account with Fair Trading?
From 1 July 2019, audits of trust accounts managed by real estate agents and conveyancers need to be lodged with Fair Trading via the Auditors Report Online portal. Fair Trading no longer accepts paper-based audits.
What is the deadline to submit a trust account audit?
Audits for the year ending 30 June 2019 need to be lodged with Fair Trading by 31 December 2019.
This is an extension of the normal deadline of 30 September. We have extended the deadline to support auditors as you get used to using Auditors Report Online for the first time.
Do I have to lodge all trust fund audit results with Fair Trading?
Yes. From 1 July 2019, you must lodge all audit results with Fair Trading. This is a change from previous years when only qualified audits needed to be lodged with Fair Trading.
Why has the way I lodge trust account audits with Fair Trading changed?
The changes to trust account audits are part of reforms being rolled out in NSW to improve the skills of real estate and property professionals, and raise the sector’s professional and education standards. Read more about the reforms and the consultations held about them.