Reminder: 2021 audit report due 31 March - Real estate industry bulletin 252
8 March 2022
The deadline for completing and delivering the audit reports for the year ending 31 December 2021 is fast approaching. Agents and auditors have until 31 March 2022 to submit their audits to the Commissioner for Consumer Protection (Commissioner).
If the auditor is not in a position to lodge the audit report by the due date, an extension may be granted by the Commissioner in certain circumstances, provided a request is made in writing and is submitted by the auditor to the Department before 31 March 2022. The written request can be emailed to the audits team.
The Commissioner has received a total of 1254 audits and statutory declarations. This means there are currently 1678 or approximately 57 per cent of submissions outstanding.
If you are a licensed real estate agent who held a triennial certificate at any time during the 2021 calendar year, you need to lodge one of the following by 5pm on 31 March 2022:
- An audit report for the year ending 31 December 2021 if you held or received monies in trust during the 2021 calendar year; or
- A Declaration of no receipt of trust funds - real estate and business agents if you did not hold or receive monies in trust during the 2021 calendar year.
If the Commissioner does not receive your audit report or declaration by the deadline, you may receive an infringement notice that carries a penalty of $2,000 or face more serious legal action.
Agents and auditors can submit audit reports and statutory declarations via email to the audits team or post to:
The Department of Energy, Mines, Industry Regulation and Safety
Consumer Protection – Property Industries
Locked Bag 100
EAST PERTH WA 6892
A hard copy is not required where an audit report or statutory declaration is submitted by email.
An exemption from submitting an individual report or declaration may apply to agents who held the role of person in bona fide control, branch manager, licensed director, partner or licensed partner for another licensed trading entity for the period during which they held the role.
If you have any queries on audits or want to submit an audit declaration, contact us by emailing the audits team.