Settlement agents trust accounts must be audited by an approved auditor and the audit report lodged with Consumer Protection. 

If the agent has not held any trust funds during the year, then the agent is not required to have an audit and must instead lodge a statutory declaration to this effect. 

Lodging reports

All audit reports or statutory declarations (as appropriate) are required to be lodged within three months of the end of each audit period. For most settlement agents, the audit period ends on 30 June of each year, which means the audit report or statutory declaration must be lodged by 30 September. It is the auditor’s responsibility to deliver the audit report to Consumer Protection.

Please note: The Department, the Commissioner and the Director General replace the Board as it is mentioned in the following publications.

Forms and publications

• A guide to auditing trust accounts: Real estate agents, business agents, and settlement agents and business settlement agents
• Trust account audit qualifications for settlement agents
• Change of auditor request - Settlement agent
• Declaration by Auditor example - Settlement agents
• Declaration of no receipt of trust funds - Settlement agents
• Settlement Agents’ Trust account handbook
• Statement of trust account money - Annexure A
• Statutory declaration by auditor
• Trust account receipts - Settlement agents
• Auditor’s covering letter for an audit report (example)

• Request for approval of auditor appointment - Settlement agents