Real Estate Trust Account Audit Australia

A real estate trust account audit is an independent review of the trust money records kept by a real estate agency. It usually checks bank statements, reconciliations, receipts, payments, client ledgers, and supporting records before the audit report or state lodgement step is completed.

Real estate trust account audits are usually annual when an agency receives or holds trust money, but the period and due date depend on the state. NSW uses a 1 July to 30 June audit period with a 30 September due date, Queensland due dates depend on the licence issue month, and WA commonly uses a calendar-year audit period.

Real estate trust account audits start from $549 + GST per trust account. State pricing is $549 + GST in ACT, NSW, TAS, and VIC; $749 + GST in NT, QLD, SA, and WA. Exact pricing is confirmed before work begins and depends on the state, licence type, trust account count, and scope. If you have multiple trust accounts, each account is assessed individually before the fixed-fee quote is confirmed.

Most real estate trust account audits are completed within 5-10 business days from receipt of all required documentation. The timeline depends on the volume of transactions, quality of record-keeping, and responsiveness in providing requested documents.

Common documents include bank statements, trust account registers, receipts, payment records, deposit records, monthly reconciliations, client ledgers, and relevant correspondence. The final checklist depends on your state, licence type, trust account activity, and the regulator process that applies.

Yes. Each real estate trust account audit is prepared with reference to the state requirements that apply to your agency. We check the records, due dates, and report expectations for your state.

Real estate trust accounts must usually be audited by a qualified, independent auditor who meets the rules for the relevant state or territory. Regulators commonly refer to approved auditors, registered company auditors, professional accounting body membership, public practice certificates, and independence from the agency.

A practical checklist starts with bank statements, monthly reconciliations, client ledgers, receipts, payments, deposit records, trust account registers, supporting correspondence, and previous audit notes. State-specific forms, portal details, and declarations should be added where your regulator requires them.

You should keep trust account reconciliations current and complete. Monthly reconciliations are a common regulator expectation and are one of the first records an auditor will ask for, because they help explain the bank balance, ledger balance, and client money held.

If the audit finds issues, we explain them clearly and outline the next steps. The action needed depends on the issue and your state requirements, but the first step is to understand what is missing or incorrect.

Pricing is calculated per trust account and can vary by state. The total fee is usually the applicable per-account price for your state multiplied by the number of trust accounts being reviewed. We can confirm the exact fixed price once we know your state and account count.

Start with current monthly reconciliations, bank statements, client ledgers, receipts, payment records, and previous audit notes. Keeping trust and business money separate makes the audit much easier.

Yes. The core idea is similar, but each state has its own audit period, due date, reporting format, forms, and submission process. For example, NSW audit results are submitted through the Auditor's Report Online portal, Queensland due dates depend on the licence issue month, and Victoria uses myCAV lodgement after the report is received.

Trust money includes rental payments, sales deposits, advertising fees, maintenance funds, and any other money received on behalf of clients. This money must be kept separate from your business funds and can only be used for its intended purpose as directed by the client.

Each trust account requires individual audit coverage and is assessed separately. The fixed-fee quote depends on the state, licence type, account count, and scope, even when multiple accounts are handled within one audit engagement.

AuditsPro keeps real estate trust account audit pricing competitive by using a secure client portal, structured document checklists, digital workpapers, and state-aware review workflows. The efficiency comes from reducing administration, document chasing, and repeated follow-up. It does not mean client services are offshore or that the audit work is reduced.

Client services, audit coordination, and client portal data management are handled onshore in Australia. Client portal audit documents are managed on Australian AWS infrastructure, including the Sydney region, with important audit information protected by encryption in transit and at rest.

The portal gives real estate agencies a structured checklist, secure upload pathway, document tracking, and clearer follow-up requests. That means auditors can see what is missing earlier, review files in a more organised way, and spend less time on manual administration.