In March 2022, Draft Guidelines were published by the Property Practitioners Regulatory Authority, which provided additional understanding relating to the accounting and auditing requirements applicable to the business and trust accounts of a property practitioner. These Draft Guidelines attempt to shed light on some of the areas of the Property Practitioners Act PPA and Regulations PPR, that set out the aforementioned requirements. This session attempts to simplify the Guidelines and provide solutions to many of the questions you may have in relation to your property practitioner engagements.

- Simplify the requirements set out in the March 2022 Draft Guidelines for Audit and Trust Accounts of Business Property Practitioners - Clarify which set of legislation to audit in relation to for February 2022 year ends, i.e.: o Estate Agency Affairs Act or o Property Practitioners Act - Explain how to qualify and apply for audit exemptions, i.e., trust accounts / business AFS - Highlight transitional arrangements from old legislation to the new legislation - Make clear what the trust audit implications are when using a “payment processing agent” - Point you to all available template letters when applying for exemption from trust account audits, amongst other templates

☒Auditors ☒Financial accountants ☒Audit mangers ☒Audit partners ☒Engagement Quality Control Reviewers