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consumer@demirs.wa.gov.au
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2 March 2017
All agents who hold a current triennial certificate and have held or received monies in trust during the 2016 calendar year, or part thereof, are required to have their trust accounts audited for the period by an auditor approved by the Commissioner for Consumer Protection (the Commissioner).
Agents who have not held or received monies in trust during the 2016 year should submit a statutory declaration in lieu of an audit report.
The annual audit report or statutory declaration for the year ending 31 December 2016 must be lodged with the Commissioner by 5pm on 31 March 2017.
An infringement notice may be issued where an audit report or statutory declaration of ‘no receipt of trust funds’ is received after 31 March 2017 or not at all.
Agents who have held the roles of the agent in bona fide control, branch manager, licensed director, partner or licensed partner for another licensed trading entity may not be required to submit an audit or statutory declaration for their individual licence, for the period they held that role.
Agents operating a business under their individual licence and triennial certificate as a sole trader, and have held or received trust monies during the 2016 year, will also need to follow the audit requirements for their trust accounts.
The following reminders may assist agents and auditors to fulfil their obligations under Section 70 of the Real Estate and Business Agents Act 1978. Comprehensive information is available in the guides for agents and auditors on the Department of Commerce’s website.
Reminders for real estate agents
Reminders for auditors
Agents and auditors are encouraged to submit audit reports and statutory declarations via email.
You are not required to submit a hard copy of your audit report or statutory declaration if you have submitted it electronically.
Further information on auditing real estate agents is available on Consumer Protection’s website.
You can contact the audits team by email or by telephone on (08) 6251 2721 if you have any queries in relation to the audit process.
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