Real Estate Update – Audit newsletter Issue 2 / 2017

Real Estate Update

The REAA will soon change its name to the REA (Real Estate Authority). A new website and branding is currently in progress.

From 1 October 2018, The Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act will apply to real estate agents who

Represent a client who’s selling or buying real estate

Accept a deposit in cash of $10,000 or more from someone who’s buying real estate.

More information is available on the Ministry of Justice website.

One of our specialties is trust account audits. We perform this service for lawyers, accountants, real estate agents who require assurance over their trust account. All real estate agencies in New Zealand must have their real estate trust account audited and we provide this service to many around New Zealand. The next time you buy or sell a house, make sure the agent’s trust account is audited.  Please get in touch to discuss your needs.

Published summer 2017.

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