In Victoria, estate agents must establish and maintain a trust account that complies with the Estate Agents Act 1980 and the Estate Agents (General, Accounts and Audit) Regulations 2008.

What is the value of a Trust Account Review?

Mizael Partners can provide independent assurance on the operation of your trust accounts. Our professional team provide trust account auditing service in a timely and effective manner allowing your agency to fully comply with Victorian regulations without unnecessary hindrance to your staff. At our core, we review your practices and procedures, identify potential issues with your trust account and provide you with the necessary assurance report.

What trust account review services do we provide for Real Estate Agencies?

Our services include a full suite of auditing and assurance activities for estate agency operations such as:

• Review of practices and procedures

• Identification of potential issues with your trust accounts

• Provision of necessary assurance reports

• Compliance review of sales and rental trust accounts

• Review of trust receipts and payments

• Review of bank statements and bank reconciliations

• Confirmation of client trust balances

• Review of journals

• Review of dormant trust accounts

• Review of sales trust contracts (including contracts of sale, section 32 statements, commissions, exclusive authority)

• Review of rental trust contracts (including tenant agreements, condition reports, bond receipts, exclusive authorities, commissions)

• Privately owned large sized companies

Why choose Mizael Partners?

Mizael Partners have been providing Audit Review services for Real Estate agencies since 2002. We are a registered chartered accounting company fully approved by Consumer Affairs Victoria to undertake audits of estate agency trust accounts. We specialise in ensuring all financial records accurately reflect the position of an individual or organisation. We make sure that all statements and records are compliant with Australian Accounting Standards or International Accounting Standards, Australian Charities and Not-for-profits Commission (ACNC) and the Australian Securities and Investments Commission (ASIC) where required. We also have regular training sessions for our staff to ensure that they are up to date with all the changes in taxation, Accounting Standards and other regulations.

Contact us

To speak to one of our accredited auditors call us on (03) 8821 6868.