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Licensees have until 30 September 2017 to submit their real estate trust account audits to NSW Fair Trading.

The qualified audit must be lodged within three months after the end of the audit period and, for most agents, must be submitted to the Director-General by the due date.

NSW Fair Trading said: “If a qualified trust account audit is not lodged by the due date, Licensees could be disqualified from holding a licence and possibly prevented from renewing a licence.”

The auditor is also required to lodge a copy of the qualified audit with NSW Fair Trading within 14 days after providing the report to the Licensee.

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