Real Estate Agents (Audit) Regulations 2009

21 Duty to perform at least 3 examinations each year
  • (1) An auditor of any trust account must examine that account at least 3 times each year by undertaking,—

    • (a) between 1 July and 31 August, the first examination of the trust account for the period from the start of 1 April to the close of 31 May:

    • (b) between 1 December and the last day of February, the second examination of the trust account for the period from the start of 1 June to the close of 31 October:

    • (c) between 1 April and 30 June, the last examination of the trust account for the period from the start of 1 November to the close of 31 March.

    (2) If an agency is not in business on the 1st day of April in any year, the auditor must examine each trust account for the periods specified in subclause (1) subsequent to the auditor's appointment.

    (3) The auditor may make other or further examinations at any time, either by arrangement with the agency or of the auditor's own motion.