A guide to using the Auditor's Report Online portal.
Key information
- The Auditor’s Report Online portal allows auditors to easily and securely submit trust account audit results.
- All auditors must lodge results via the portal.
- This guide contains essential information you will need to perform and lodge a trust fund audit under the Property and Stock Agents Act 2002 and Conveyancers Licensing Act 2003.
Introduction to the Auditor's Report Online portal
The Auditor’s Report Online portal allows auditors to easily and securely submit trust account audit results. It replaces the previous paper-based Auditor’s Report form.
Auditors must lodge their audit results via the portal to meet the annual audit requirements.
All trust account audits as required under section 111 of the Property and Stock Agents Act 2002 and section 75 of the Conveyancers Licensing Act 2003 must be lodged via the portal.
If this is your first time you are using Auditor’s Report Online, please read through this guide before starting an audit.
For more information about auditor responsibilities and lodgement requirements, see the Trust account auditors page.
Getting started
Before starting the registration process, you will need:
- Internet access and an up to date version of Chrome, Firefox, Safari or Microsoft Edge browser installed.
- Your professional affiliation information and business details.
- An email address that will be used to log into the Auditor’s Report Online and receive notifications related to audits. It's important that you use your own email address and not a shared email inbox.
Register for an account
To register for an account, you must be an auditor-in-charge. You only need to register once and you will use the same log in details each year. If you change companies, you will need to register again using your new email address and new work details.
- Go to the Auditor's Report Online portal registration page
- Enter your personal and business details.
- Read the portal registration privacy collection notice
- Read and accept the terms and conditions by checking the declaration box, then select the 'register' button to submit the form.
- Go to your email inbox and open the email from audits@customerservice.nsw.gov.au with subject ’Welcome to Auditor’s Report Online’ (be sure to check in your spam or junk folder if you can't find the email).
- Follow the prompts in the email to create your new password.
Understanding your dashboard
The Auditor dashboard is where you will view and access all audits that you have started. You are the only person with access to the information displayed on your dashboard. It cannot be shared with other auditors or staff in your organisation.
It is important to note that the portal is not the audit itself - it is a platform used to submit your audit findings.
Creating a new audit
To start a new audit, select the +Invite new client button or the +Invite prior year client button.
- Use the +Invite new client button to start a new audit.
- Use the +Invite prior year client button to start a new audit for a trust account that you audited last year (this will save you time as you won't need to re-enter the client information).
Important - if you need to update the details for a client from the previous year, do this before requesting authorisation.
Continuing an existing audit
Launch and complete an audit you have created previously.
- To find the audit in the list, use the search bar on the top right-hand side.
- Apply filters or sort the list of audits by selecting on any column heading.
- Select the Status column to filter to narrow the list of audits.
- Select the Refresh dashboard button to see updated information.
- To display the full list of audits again (if you have applied any filtering), select the Show all clients button.
- The more action button opens the audit and displays the options available.
- The page numbers at the bottom of the screen allow you to navigate through your list of audits.
- The Back and Next links will scroll through your list of audits.
Actions available for audits
Choose the more actions button displayed on the right side column of the audit. The actions available to you will depend on the status of the audit.
Actions available for each status
Pending
- Resend the request to your client. If the licensee’s name or email address were incorrect, you can change them before re-sending the request.
- Delete the request.
Rejected
- Resend the request to your client. You should only resend the request if your client accidentally rejected the request, or if they rejected it because their name or email address was incorrect.
- Delete the request so that you can start a new audit. You should start a new audit if details other than the licensee’s name and email were incorrect. Choose +Invite new client and start again.
Revoked
- Delete the request. The rules for revoking an audit are based on the ABN or ACN and bank account. An audit will be automatically revoked if another audit is authorised by the licensee for the same trust account.
Abandon
- Select a reason from the list displayed – Duress, Request withdrawn, or Other – and then choose the Abandon audit button.
Important: You should notify NSW Fair Trading if you are abandoning an audit because of duress.
In progress
- Complete audit.
- Abandon audit.
- Request extension.
Submitted
- View and download a copy of the Auditor’s Report.
Read the privacy collection notice for the Auditor's Report Online portal - auditor's dashboard
Starting a new audit
- To start an audit, choose one of the following buttons on the top left section of the dashboard:
+Invite new client
+Invite prior year client
+Submit prior year audit - Enter the required information about your client and the trust account/s that you are auditing for them.
- Check that you have entered the correct details. You will not be able to make any changes after the request is sent to the licensee.
- Download the client information form to send to your clients if you need to collect the required information before you conduct the audit.
- Obtain permission from your client to submit an audit on their behalf via the Request Authorisation button at the bottom of the screen.
If you've not been authorised by your client yet, you can:
- Resend the request to them. If required, you can change the licensee’s name and the email address before re-sending
- Delete the audit
If you have been authorised by your client, you can:
- Commence the audit checklist.
- Complete a checklist that you have already started.
- Abandon the audit - choose this action if you do not intend to complete the audit.
- Request an extension – choose this action if you will not be able to complete the audit before the due date.
Completing the audit
The auditor's report must contain:
- Licensee Entity Name (corporation) and Licensee Entity Number
- ABN / ACN
- General trust account Unique Identifying Number (UID)
- Trust account bank details – BSB and account number
The trust account audit checklist is a series of questions grouped into 16 sections. You will be guided through the checklist, however you may jump to any section and complete the questions in any order.
Enter responses to the trust fund auditing requirements checklist by answering yes, no or not applicable to defined questions. Some questions require you to choose a reason for a negative response. You should tick all applicable reasons from the displayed options.
You will be asked to attach supporting documents or choose from a list of reasons for a negative response. If you have determined that a negative response is required, you must change the response.
Where there are breaches of a financial nature, the auditor must attach a copy of the trust bank reconciliation statement and the trial balance. If this is not provided, you will need to attach your explanation.
Underneath each checklist question is a reference to the associated legislation section or clause.
Where a question does not apply to a real estate agent, conveyancer, strata manager or stock and station agent, the question will be disabled.
Submitting the audit
Before submitting the audit, you must:
- Review your responses.
- Ensure required document attached.
- Add comments of your findings.
- Attach supporting evidence if there is a finding that may be a breach.
- Complete the declaration.
Important - If your report identified any discrepancy relating to the trust money, please report to NSW Fair Trading immediately at audits@customerservice.nsw.gov.au (s116 PSAA, s80 CLA).
After the audit is submitted, a copy of the auditor’s report will be sent to both the auditor and the licensee.
If you would like to save or print a copy of the full checklist, choose the download option before you submit. After submitting, you will be able to download a copy of the audit report summary but not the full checklist.
Once you have completed the checklist and attached all required supporting documentation, select the next button to proceed to the Summary of Breaches page.
Summary of audit
A summary of the audit is displayed, listing any breach along with error messages highlighting any missing responses or attachments.
Use the edit option on the right‐hand side to jump straight to the checklist question that has missing information and enter the response or upload the requested attachments.
Use the checklist option on the left‐hand side to go back to any checklist section to check your responses. You can change your response or upload attachments at any time before you submit the audit to NSW Fair Trading.
Important - auditors must not wait for the breaches to be rectified before lodgement.
Declare and submit
If you agree to the declaration statements and are ready to lodge the audit with NSW Fair Trading, tick the 'I accept' check box and select the Submit Auditor’s Report button.
After the audit is submitted, a copy of the auditor’s report will be sent to both the auditor and the licensee.
If you would like to save or print a copy of the full checklist, choose the download option before you submit. After submitting, you will only be able to download a copy of the audit report summary (the full checklist will not be available to download).
The audit will stay displayed on your dashboard until 31 December each year.
Requirements for attachments
Frequently asked questions (FAQs)
Does the Auditor's Report Online close?
No. You will be able to start or submit a current audit year audit between 1 July and 31 December each year. You may also submit prior 3 years audits anytime by using the +Submit Prior Year Audit button.
Can someone else from my office access the same clients and audits that I have entered under my log in?
No. Clients and audits entered by you are not visible to any other people registered for Auditor’s Report Online.
What do I do if I change employers?
You must complete the registration process using your new email address and work details. You will not be able to access any audits entered under your previous registration.
Is the registration on the portal transferable?
No. For risk management mitigation, registration on the portal is not transferrable. If you no longer require the registration or have left the business, the new auditor will need to register for a new account.
The Auditor's declaration
A reminder that false or misleading information may be liable to imprisonment for up to two years and/or fine of up to $22,000 or both if convicted of an offence under Part 5A of the Crimes Act 1900 (NSW).
Can I obtain records from the NSW Fair Trading audits?
No. The portal is used only to submit audits and is not a record keeping system. Auditors should retain their own records, and you are reminded that Fair Trading may at times, request certain records from an auditor if not attached to an audit.
What happens if my client wants to appoint another auditor?
A licensee may wish to appoint another auditor after they have authorised an audit that you have started in Auditor’s Report Online.
For the new auditor
The new auditor must create a new audit for the client and trust account and invite the licensee as described in the 'creating a new audit' section of this guide.
For the existing auditor
When the licensee authorises the new invitation of another auditor.
The status of the audit that you started will be changed to ‘Revoked’. The audit will remain on your dashboard until the end of the audit year; however, you will not be able to open it or complete the audit requirements checklist.
Will I have to enter the same client details again next year?
No. You can use the +Invite prior year client button next year to save re-entering client and trust account details for current year audit submission. However, you must make sure that all previously entered details are still current and correct.
What do I do if the client details are incorrect in the portal?
Certain details are available to be changed for a client in the portal BEFORE you start an audit.
If the particular field you need to change is greyed out you must re-invite the client as new and start again.
Any changes must be made before you request authorisation.
Will the system send reminder emails?
Auditors will receive a reminder email if your client has not responded to your invitation within 3 days.
Your client will receive an email 15 days before the due date if they authorised your request and you have not yet submitted the audit report.
What should I do if I have accidentally submitted an audit with an incorrect response or incorrect attachment?
Contact NSW Fair Trading by email: audits@customerservice.nsw.gov.au
What should I do if I miss the due date?
Complete and submit the audit as soon as possible.
If after 31 December, submit via the +Submit prior year audit button.
Why can't I submit a prior year audit?
If an audit has been started in the portal but not submitted, the system will not allow duplication of the same trust account number in the same audit year.
Please contact audits@customerservice.nsw.gov.au to void it.
Can you combine two independent general trust account transaction records through one account system?
No. Each independent general trust account must be journaled separately. There is no compliance trust account software that allows you to journal two general trust accounts in one licence.
Is an audit required if the trust account has 'nil transaction' and a 'zero' balance for the whole audit period?
No. If you have sighted and confirmed all bank statements for the whole audit period have ‘nil transaction’ and a ‘zero’ balance, then no audit is required.
You should advise your client to forward copies of those bank statements to audits@customerservice.nsw.gov.au before the audit due date to avoid any late submission penalties.
What if the trust account has 'nil transaction' but still has a balance for the audit period?
You must still complete an audit. The Act requires that all trust accounts that holds any monies during the audit period must be audited.
Do I need to submit an audit if the trust account is closed before 30 June?
Yes. Unless the trust account has nil transactions and zero balance for the full audit period.
My client is closing the trust account; can I submit the audit early?
No. The Auditor’s Report Online portal cannot accept advance year lodgement. You will have to wait until the 1 July of the next financial year ending to submit.
Can I submit an audit without a Unique Identifying Number (UID)?
No. The UID is required for each general trust account.
The only exception is if your client is a conveyancer or you are submitting an audit for a ‘Separate trust account’ only.
You need to ask your client for the trust account’s UID for each general trust accounts before proceeding with their audit.
What is a 'separate trust account'?
Separate trust account is defined as:
- Separate trust account kept on the instructions of a client of a licensee or firm of licensees for the exclusive benefit of the client, or
- Separate trust account opened by a licensee for the exclusive benefit of both the vendor and the purchaser of land.
Why is my client still receiving non-submission notices when I have already submitted the audit on time?
It may be because your client’s details were entered incorrectly and therefore do not match the details contained on our database.
Please ensure your client’s details, licence number, account number, client type and trust account type are entered correctly.
If your client receives a non-submission notice incorrectly you may write to audits@customerservice.nsw.gov.au for further instructions.
Which bank account number is required?
Please ensure you that you only enter your client’s bank account number as it appears on the bank statement and NOT their member or facility number.
What if my client is not using an approved computer software for trust accounting?
It is not compulsory for licensee to use a computer software for trust accounting.
Manual accounting system is only acceptable if the records are kept in accordance with the legislation. This means that all handwritten trust account records must be in a permanent legible form and recorded in a sequential pre-numbered page accounting book.
My client is using Excel or MYOB for trust accounting.
Both Excel and MYOB are non-compliant computer software for trust accounting under the legislation. It should be recorded as a breach in the audit.
Can I add an attachment to an audit report?
Yes. Especially if an attachment is required for a response on the audit checklist, you can attach the relevant document to support your findings.
Please ensure you attach the correct document/s before submitting the audit.
Related information
Disclaimer
This guide avoids the use of legal language, with information about the law summarised or expressed in general statements. The information in this document should not be relied upon as a substitute for professional legal advice.
By publishing this guide, the State of NSW, and respective employees and agents do not incur liability (including liability by reason of negligence) to the users of the guide for any loss, damage, cost or expense incurred or arising by reason of any person using or relying on this guide whether caused by reason of any error, negligent act, omission or misrepresentation in the guide.
You are still obligated to obtain and understand relevant legislation and the associated requirements. For access to legislation in force in NSW visit the official Legislation NSW website.
More information
For further assistance with Auditor’s Report Online portal, or to provide feedback, please email audits@customerservice.nsw.gov.au