NEW PPRA NOTICE: Estate Agents Audit Report Submission Process Changes – August 2022

The online portal for submitting the property practitioner/estate agents trust audit report has not yet been updated for the new Act!

Summary of changes:

Online submission via the portal is still required
The old template is to be used via the portal
Interest declared for 11 months only (if February 2022 year-end) based on the old Act’s rules
No declaration of interest for months under the new Act
2023 trust audit report will cover a 13-month period for previously undeclared interest under the new Act
No declaration of unidentified receipts under the new Act
2022 trust audit reports already submitted do not require resubmission
31 August 2022 submission deadline still applicable if February 2022 year-end