Auctioneers’ Accounts

Auctioneers are not required to have their financial statements audited. However, they are responsible for complying with the Property Services (Regulation) Act 2011, (Client Moneys) Regulations 2012.  These Regulations provide for various requirements of auctioneers and estate agents with regard to the maintenance of client accounts, accounting records and of property management agents with regard to the handling of and accounting for client and office monies.

  • Advising and Identifying the best accounting software to control the client and office accounts.
  • It is inherent for an auctioneer to be aware of the requirements of the Regulations and to ensure the accountancy records are maintained accurately and on an ongoing basis, to ensure the accounts truly reflect the financial position of their firm.
  • To establish an accounts structure that best suits their needs.
  • To advise and implement controls, processes and procedures within the firm to ensure the firm is fully compliant with the Regulations and to ensure that client monies are accurately recorded, at all times.
  • The auctioneer has the comfort of knowing that all necessary systems and controls are in place in relation to the Regulations.
  • We offer an outsourced bookkeeping service to ensure your books and records are maintained on an ongoing basis. The auctioneer has the assurance the records are being recorded by professionals who have extensive experience in dealing with auctioneers’ accounts.
  • We provide a service to attend the auctioneer’s office and review all the accounting records and systems in place. We evaluate the current method of accounting, controls and procedures within the firm and provide recommendations in relation to same.
  • Completion of the annual Accountants’ Report as required by the Property Services Regulatory Authority.