Closing fiscal review reports must be completed with information covering the period between the ending date of the last accounting report to the date of termination of the brokerage licence and filed with RECA within 30 days of the brokerage’s licence termination.
Please expect to receive an email from Practice Review requesting a Closing Audit report after ceasing your brokerage.
How do you submit a Closing Audit report?
Closing Audit reports can be submitted by email, mail, or FAX. Please note filing of reports online is no longer available after ceasing your brokerage.
If your brokerage has received or held money in trust during the period being reported on, you must complete, sign, and submit to RECA Closing Fiscal Review Forms 1, 2, and 3.
Form 1: Engagement Letter Between Accountant and Condominium Management Brokerage (Client)
Form 2: Condominium Management Brokerage’s Representations to RECA
Form 3: Condominium Management Brokerage Accountant’s Report
Instruction to Financial Institutions to pay interest to the Alberta Real Estate Foundation, pursuant to section 69 of the Real Estate Act.
The form “Instructions to Financial Institutions from Licensees” can be found on the Alberta Real Estate Foundation website under Industry Information: www.aref.ab.ca.
If your brokerage has not received or held money in trust during the period being reported on, you are required to file Form 4—Declaration of Absence of Condominium Management Trust Transactions (pdf).
