General information

Persons who carry on business as a Business Agent, Estate Agent or Conveyancer in NT must do so in accordance with theAgents Licensing Act
The audit period is the period: The period of 12 months ending on 30 June in each year (Sect 58)
A licensed agent shall ensure that the agent's accounting records relating to trust moneys received and paid by the agent during the prescribed period are audited within 3 months after the expiration of each prescribed period. (Sect 59)
The auditor must be a registered company auditor (Sect 60)
As soon as is reasonably practicable after the completion of an audit pursuant to section 59, the auditor shall: (a) prepare a report of the result of the audit; and (b) deliver the report to the licensed agent and a copy of the report to the Board. (Sect 62)

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Key details:

Audit Period:1 July to 30 June

Audit Due Date:As soon as is reasonably practicable after the completion of an audit pursuant to section 59

Audit Report submitted to:The auditor must deliver a copy of the report to the agent and to the Board (Agents Licensing Board of the Northern Territory)