For the year ending 30 June, when must a Victorian estate agency's trust account audit be completed, and when must the report be lodged with Consumer Affairs Victoria?
Correct Answer
B) Within 3 months after 30 June; lodged within 10 business days of receiving it
Victorian estate agents must have their trust accounts audited each year for the period 1 July to 30 June, within three months after 30 June, by an approved auditor using the approved form. The agent must lodge a copy of the audit report with Consumer Affairs Victoria within 10 business days of receiving it; failing to do so is an offence.
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