Real Estate Agents Act 2008

Duties relating to real estate agency work - Receipt of money and audit of accounts

125: Agents’ trust accounts to be audited

You could also call this:

"Real estate agents' trust accounts must be checked regularly"

Illustration for Real Estate Agents Act 2008

You need to audit the trust accounts of real estate agents. This must be done at certain times and in a certain way, as set out in regulations made under the Real Estate Agents Act 2008. When an auditor checks a trust account, they must keep the information confidential. You should know that the auditor gets information when they check the trust account. This information is private, but there are some exceptions. These exceptions are set out in the regulations and are for the purposes of the audit, you can find more information by checking the related section. The auditor must follow these rules when checking the trust account. They must keep the information private, unless they are allowed to disclose it. This helps to ensure that the trust accounts are accurate and trustworthy.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1152113.


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Part 5Duties relating to real estate agency work
Receipt of money and audit of accounts

125Agents’ trust accounts to be audited

  1. Every general or separate trust account of an agent must be audited at the times and in the manner prescribed by regulations made under this Act.

  2. All information obtained by an auditor in the course of the audit of any trust account under this Act must be treated as confidential.

  3. Subsection (2) is subject to any rights of disclosure that may be prescribed for the purposes of the audit.

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