accountant

Topics: Balance sheet, Fiscal year, Asset Pages: 20 (4375 words) Published: October 12, 2013
ACCOUNTANT’S REPORT
(Rules, section 7-7, Bylaws, section 4-9.1)

INSTRUCTIONS
1.

Please review the attached Accountant’s Report Instructions and Minimum Procedures. The Real Estate Services Act, Regulation and Real Estate Council Rules can be found on the Real Estate Council’s website at www.recbc.ca/licensee/legislation.html.

2.

Please print clearly.

3.

If there is insufficient space on the form, please provide the requested information in an attachment.

4.

This Accountant’s Report, along with the brokerage’s financial statements and brokerage activity report must be filed with the Real Estate Council within 120 days after the end of each fiscal year end of the brokerage.

PART A
To be completed by the brokerage before forwarding this report to the reporting accountant

The following information is given with respect to _________________________________________________________________ for the fiscal year (legal name of brokerage)

commencing on ______________________________________________ and ending on __________________________________________. (first day of the brokerage’s fiscal year MM/DD/YYYY)

(last day of the brokerage’s fiscal year MM/DD/YYYY)

All savings institutions accounts of the brokerage opened, closed or maintained during the fiscal year. (Use attachment if required) Name and branch location of
savings institution

Account #

Type of Account
(brokerage trust, commission, strata operating and
contingency reserve, general, etc.)

Date of opening
during fiscal year

Date of closing
during fiscal year

MM/DD/YYYY

MM/DD/YYYY

Address of the brokerage and, if applicable, of all branch offices of the brokerage that operated at any time during the fiscal year:

Accountant’s Report

(Rev 01/2013)

Page 1 of 3

PART B
To be completed by the reporting accountant
1.

Based on my/our examination and subject to any qualifications or exceptions noted in number 4, I/we report that in my/our opinion the brokerage has, for the fiscal year:
a)

maintained books, accounts and other records in connection with their business as a brokerage as required by Part 3 [Trust Accounts and Other Financial Matters] of the Real Estate Services Act, Part 3 [Trust Accounts and Other Financial Matters] of the Real Estate Services Regulation, Part 5 Division 3 Section 15 [Commissions and Other Remuneration], Part 7 [Brokerage Accounts and Financial Requirements] and Part 8 Division 1 [Brokerage Records-Financial Records] and Division 3 [General Recordkeeping] of the Council Rules;

b)

maintained in its brokerage trust accounts and commission trust accounts sufficient funds to discharge its gross trust liabilities as disclosed in its accounts; and,

c)
2.

prepared a monthly trust reconciliation for all month ends that occurred in the fiscal year.

Based

on

my/our

review

of

the

unaudited

financial

__________________________________________________

statements

for

the

fiscal

year,

which

were

prepared

by

and our Review Engagement Report (or Notice to Reader if authorized)

dated __________________________________ , and subject to any qualifications or exceptions noted in number 4, we report the following: a)

Per the Financial Statements:

Current assets: $_________________________________________ Total assets: $_______________________________________________ (exclusive of goodwill, incorporation costs and other intangibles)

Current liabilities: $________________________________________ Total liabilities: $ _____________________________________________ Except as noted in number 4 below,
b)

no changes in accounting principles used by the brokerage have been brought to my/our attention,

c)

no contingent liabilities in connection with this brokerage have been brought to my/our attention, and

d)

there are no material subsequent events that have come to my/our attention that would result in...
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