Real Estate Agents (Audit) Regulations 2009

13 Agency must notify Authority of replacement if auditor disqualified or no longer engaged

• (1) Every agency must give notice to the Authority, within the time set out in subclause (2), if the auditor appointed to audit the agency's trust accounts—

  • (a) ceases to be engaged by the agency; or

  • (b) does not, for any reason, commence his or her role as auditor; or

  • (c) is disqualified under these regulations from auditing the agency's trust accounts.

  (2) The notice must be given to the Authority at any time before the auditor ceases to be engaged, or within 20 working days of the agency becoming aware of the matter specified in subclause (1)(a), (b), or (c), whichever is the later.

  (3) Every notice given under this regulation must—

  • (a) specify the name and address of the auditor who is to be replaced; and

  • (b) specify the name and address of a replacement auditor who is appointed to audit the agency's trust accounts; and

  • (c) specify the name and identifying bank account number of each trust account that the replacement auditor will audit; and

  • (d) be accompanied by written confirmation from the replacement auditor that he or she—

    • (i) is a qualified auditor:

    • (ii) [Revoked]

    • (iii) agrees to audit the trust accounts mentioned in paragraph (c):

    • (iv) is not disqualified under these regulations from acting as an auditor.

  (4) Every notice given under this regulation must be in writing and signed,—

  • (a) if the agency is an individual, by that individual; or

  • (b) if the agency is a partnership, by a member of that partnership; or

  • (c) if the agency is a company, by an officer of the company.

  Regulation 13(3)(d)(i): replaced, on 1 April 2014, by regulation 8 of the Real Estate Agents (Audit) Amendment Regulations 2014 (LI 2014/28).

  Regulation 13(3)(d)(ii): revoked, on 1 April 2014, by regulation 8 of the Real Estate Agents (Audit) Amendment Regulations 2014 (LI 2014/28).