Selecting an auditor that meets your real estate trust account audit needs is important for your business. At Madden Partners, we know that making the choice to switch needs to be a good step for you, with the confidence that you will be receiving better value for your business. There are a couple of things that you can do to keep on top of your obligations and facilitate a smooth transition when switching trust account auditors.
Record-keeping
Keeping good records helps to reduce stress and disorganisation when it comes to meeting your compliance obligations. It is important to keep good records both for your trust accounts and also your compliance paperwork. Not only does this assist you in being as prepared as possible for audit time, it also maintains continuity for your business and gives you piece of mind that your real estate trust account operations are compliant with your state’s legislation.
These practices enable switching your auditor easier, giving you the confidence to know that the relevant paperwork is in hand to ensure a smooth transition. This gives you the power to be able to more confidently choose your auditor.
Being aware of your obligations
The regulations around operating your trust account vary from state to state, making it crucial to be aware of the body that oversees trust account operations and audits; guidelines for your account operations and what rules exist around audits. Knowing these obligations and keeping abreast of any changes is something in which we specialise and communicate to our clients.
At Madden Partners, we know the processes around notifying relevant state bodies of any changes in your real estate trust account operations and audits, and will advise you of your obligations. For example, under Queensland Fair Trading guidelines, both the licensee and the auditor need to advise Fair Trading within one month if you switch auditors and the reason for the change. We can assist in making any notifications as painless as possible.
Remote operations and how Madden Partners makes it easy
Madden Partners makes it easy for you to switch from your current auditor should you wish. We have offices in Orange, Sydney and Brisbane and are just as comfortable delivering on your needs at one of our offices or on site, at yours. As a tech-savvy, professional and modern business, we have built a diverse client base throughout New South Wales and Queensland, dealing with trust account audits for real estate agents of all sizes. We take advantage of modern technology to be able to connect with you, wherever you are whilst still maintaining our commitment to customer service.
Making Madden Partners your choice of auditor
At Madden Partners, we make the choice to switch easy. We are Chartered Accountants and Registered Company Auditors who specialise in real estate trust accounts in New South Wales and Queensland. Our focus is on delivering a thorough and efficient audit to meet your compliance obligations and provide additional recommendations without the additional cost.
With our qualifications and experience, you can be sure that you are in good hands when switching to us. We will make sure you know what your obligations are, what to expect and how to best implement practical improvements for your business. We pride ourselves on our ‘City Qualified, Country Service’ philosophy to give you a fuss-free and efficient audit experience.
To discuss your real estate trust account audit requirements, contact Kiah Madden today and find out how switching to Madden Partners makes sense for your business.
