NCREC Letter Audits
Have you received a letter from the North Carolina Real Estate Commission asking you to submit a copy of your latest reconciliations, journals, and trial balances for the trust accounts you manage? Before you begin to worry or, worse, send in those reports generated by your accounting software, be sure to understand that you have only one chance to submit a balanced report that will get the case closed against you and your firm.
Far too often, we learn that licensees submit their trust records to their licensing agency with the knowledge that something isn't quite right. Before you send off those imperfect reports, take the time to investigate the mistakes and get your books in order to ensure that all of your accounts balance and you can answer the questions to come.
Rather than having a letter audit turn into a disciplinary proceeding before your board, call us first. We will reduce the risk of an audit impacting your ability to make a living.