We are pleased to announce the release of a new Compliance Template for the audit of Real Estate Trust Accounts. This new version is a significant improvement in content and workflow incorporating all our newest features to enable a fast and thorough job.
This new template is written specifically for the Audit of Real Estate Trust Accounts in NZ. The new template supersedes the old Real Estate Trust Account template (now identified as "old version") and is available under the "Compliance Audits" tab for all firms signed for Audit content.
There are specific checklists that are written around the requirements of the 2009 Regulations, plus letters and reports that comply with the requirements of the Regulations and the 2008 NZ Real Estate Act.
Testing is set up to cover the requirements for three visits.
Includes testing of monthly returns.
And specific editable audit report with options for modified (adverse, disclaimed and qualified) opinions.
As in all the new style templates, it is possible to change template type if you have been using the old style Real Estate Trust Account template, however we suggest that it will likely be easier to set up jobs from scratch and copy and paste any systems notes from the old to new in this instance due to the significant changes in structure.
As with all new templates, there are likely to be a few minor issues we may have overlooked in testing, so if you do find anything please let us know.