Property management assurance
Trust account audit services
Independent assurance engagements for property management companies in New Zealand. Protect your business, your landlords, and your tenants.
What is a trust account audit?
Property management companies hold tenant bonds, rent, and maintenance funds in trust accounts on behalf of landlords and tenants. A trust account audit provides independent assurance that these funds are being managed in compliance with the Residential Tenancies Act 1986.
While not always compulsory, many property management companies choose to have their trust accounts independently audited to demonstrate transparency, build trust with landlords, and reduce business risk.
Why get your trust account audited?
Build landlord confidence
Landlords want to know their rental income and funds are safe. An independent audit report gives them confidence in your management.
Demonstrate compliance
Show that your trust account operations comply with the Residential Tenancies Act 1986 and industry best practice.
Identify risks early
An independent review can uncover process gaps, reconciliation issues, or internal control weaknesses before they become problems.
Stand out from competitors
An audited trust account sets your agency apart and can be a selling point when attracting new landlord clients.
What we cover
Our engagement is conducted in accordance with SAE 3100 (Revised) and ISAE (NZ) 3000 (Revised), the applicable standards for assurance engagements in New Zealand.
Trust account reconciliation
We verify that trust account bank balances are properly reconciled with your records on a regular basis.
Tenant bond handling
We check that tenant bonds are received, recorded, and lodged with Tenancy Services correctly.
Rent collection and disbursement
We review that rent received is accurately recorded and paid out to landlords in a timely manner.
Maintenance fund management
We examine how maintenance and repair funds held on behalf of landlords are managed and accounted for.
Compliance with the RTA 1986
We assess your compliance with the trust account requirements of the Residential Tenancies Act.
Internal controls review
We evaluate the controls you have in place to mitigate risks to the trust account and monitor ongoing compliance.
How the process works
Initial discussion
We understand your business, the number of properties managed, and the trust account structure.
Engagement and planning
We agree on the scope, timeline, and fee. You provide access to your trust account records and systems.
Fieldwork
We perform testing and review procedures on your trust account transactions and controls. This is done remotely where possible.
Assurance report
We issue an independent assurance report on your trust account's compliance, which you can share with landlords and stakeholders.
Get in touch for a quote
Every property management company is different. Contact us to discuss your trust account audit needs and receive a fixed-fee quote.