Real Estate trust account
audits and reviews for
body corporates
Clear. Verified. We’ve got you covered
Real Estate trust account audits and reviews for body corporates
Clear. Verified.
We’ve got you covered
If you manage a Real Estate Trust Account or you’re part of a body corporate, you may prefer working with BVO Audit because we have deep experience in Real Estate, Property and Construction. We understand the risks and can help you avoid common pitfalls.
The rules around managing real estate trust accounts and preparing financial statements for body corporates can be complicated. Please see below to figure out exactly what you need to do for compliance and managing risk.
Real Estate Agency?
You need a Trust Account audit for compliance
With millions of dollars flowing through your Trust Account, you are required by law to comply with NZ Real Estate Trust Deed Regulations and have your financial statements audited annually. Book a no-obligation call with an auditor.
Body corporate?
You may want a review of your special purpose financial statements.
Having your body corporate financial statements independently audited is not required by law. However, many body corporates elect to have a voluntary review to ensure the committee is being run efficiently and funds are prudently managed. A review can help ensure best practice governance and give assurance to current and future owners. There’s a clear pathway to request a review which begins at the AGM. Any owner can vote in favour of a review. Book a no-obligation call with an auditor
What is the difference between an audit and a review? Find out here
Real Estate Trust Accounts
BVO Audit knows the requirements for Real Estate Trust Account compliance intimately and are across likely changes that might occur. That means your Real Estate Trust Account audit will be fast and efficient, confirming deposits and commissions are well-managed, your clients can trust you, and funds are safe and accounted for. BVO Audit will give you peace of mind to focus on what you do best. Selling more property.
Getting an audit from BVO Audit minimises risks in several ways.
- Your accounts will be compliant, so purchaser funds will be 100% secure.
- BVO Audit uses plain-language reports which leaves less chance for misunderstanding or confusion. That means a happy accountant.
- BVO Audit will make sure you are upskilled during the process so you understand what you’re looking at and how to get the best from the audit process.
We get that you’ve got a real estate business to run. Working with us gives you rock-solid confidence that the management of your trust account is sound. Vendors and buyers can fully place their trust in your agency.
Body Corporate Special Purpose Review
A review of your body corporate financial statements should be painless and practical. Otherwise, it just adds undue stress. BVO Audit knows what owners need in a review and how to make the best use of the opportunity to ‘look under the hood’.
A body corporate review is known as a ‘special purpose review’ which means we can be as general or specific as the client dictates. We have decades of experience working with body corporates and building owners. We know where to look.
BVO Audit will prepare easy-to-understand reports for good governance, minimising risks to keep owners, occupants, suppliers and board members happy.
Getting a Special Purpose review from BVO Audit prevents risks in several ways.
- Your body corporate financial statements can be thoroughly reviewed, to give owners maximum confidence.
- BVO Audit plain-language reports mean less chance of misunderstanding or confusion.
- BVO Audit will make sure your committee are upskilled during the process so they understand what they’re looking at and how to get the best from the audit process.
We get that you’ve got a body corporate to manage. Working with us gives you rock-solid confidence that your financial reporting is accurate. Owners will appreciate knowing your systems are sound, your repairs and maintenance is correctly stated, and they can fully trust decisions made by their body corporate.
How Real Estate Trust account audits and body corporate reviews work.
The process spelled out.
You’ll love how easy it is to work with us. We’ll do the work either at your place or at our offices in Newmarket, then prepare a report on what we found.
1. Discuss
Discuss your requirements with one of our qualified auditors.
2. Estimate
Receive a formal fee estimate for the job, without obligation.
3. Engage
Decide to engage the services of BVO Audit.
4. Step-by-Step
Get step-by-step, easy-to-follow instructions and a checklist to help you gather all the relevant information.
5. Your place or ours
We’ll do the work either at your place or at ours, with minimal disruption, to assess and analyse your information and systems.
6. Audit Reports
You’ll receive audit reports of your financial statements, plus a plain language management letter containing constructive feedback on systems, processes or control measures that have been identified, to help you meet stakeholder goals.
Auditing and review services for Real Estate Agents and Body Corporates
- Real Estate Trust Account Audits
- Body corporate special purpose review
