Compliance Audit Forms - Forms - Real Estate Council of Alberta (RECA)

Forms > Trust Assurance and Practice Review (formerly Compliance Audit)

Trust Assurance and Practice Review Forms (formerly Compliance Audit Forms)

Please read the instructions below and complete all of the necessary forms in full. Brokerages are still required to report, even if they have not maintained a trust account during the period being reported on. Incomplete forms will be returned to the brokerage and may be considered not to have been received. Administrative penalties may be issued if the forms are not received by the required date. If you or your accountant choose to prepare the forms below in any other format, ensure that there are no changes to the wording. All documents below are in PDF format.

Fiscal Year End Instructions
Have you received or held money on the account of others during the period being reported on?

Real Estate Brokerages
	If you have received or held money on the account of others during the period being reported on, complete, sign, and return to the Real Estate Council of Alberta the following forms:
	Form 1: Engagement Letter Between Accountant and Client Form 2: Real Estate Brokerage’s Representations to RECA Form 3: Accountant’s Report

	If you have not received or held money on the account of others during the period being reported on. Please click here for instructions on how to file Form 4: Declaration Respecting Absence of Trust Transactions online.


Mortgage Brokerages
	If you have received or held money on the account of others during the period being reported on, complete, sign, and return to the Real Estate Council of Alberta the following forms:
	Form 1: Engagement Letter Between Accountant and Client Form 2: Mortgage Brokerage’s Representations to RECA Form 3: Accountant’s Report

	If you have not received or held money on the account of others during the period being reported on. Please click here for instructions on how to file Form 4: Declaration Respecting Absence of Trust Transactions online.


Closing Audit Instructions

Real Estate Brokerages
	These reports shall cover the period between the ending date of the last accounting report to the date of termination of the brokerage’s real estate licence. Have you received money on the account of others during the period being reported on? If you have received or held money on the account of others during the period being reported on, please complete, sign, and return to the Real Estate Council of Alberta the following forms within 30 days of the real estate brokerage’s licence termination:
	Form 1: Engagement Letter Between Accountant and Client Form 2: Real Estate Brokerage’s Representations to RECA Form 3: Accountant’s Report

	If you have not received or held money on the account of others during the period being reported on, please return to the Real Estate Council of Alberta the following completed and commissioned form within 30 days of the real estate brokerage’s licence termination:
	Form 4: Declaration Respecting Absence of Trust Transactions

Mortgage Brokerages
	These reports shall cover the period from the end of the last fiscal year reported on, to the effective date of termination of the mortgage brokerage’s licence. If you have received or held money on the account of others during the period being reported on, please complete, sign, and return to the Real Estate Council of Alberta the following forms within one month of the mortgage brokerage’s licence termination:
	Form 1: Engagement Letter Between Accountant and Client Form 2: Mortgage Brokerage’s Representations to RECA Form 3: Accountant’s Report

	If you have not received or held money on the account of others during the period being reported on, please return to the Real Estate Council of Alberta the following completed and commissioned form within one month of the mortgage brokerage’s licence termination:
	Form 4: Declaration Respecting Absence of Trust Transactions

Instruction to Financial Institutions to pay interest to the Alberta Real Estate Foundation, pursuant to section 68 of the Real Estate Act. The form “Instructions to Financial Institutions from Industry Members” can be found on the Alberta Real Estate Foundation website under Industry Information: www.aref.ab.ca.

More Forms:
Relationship Forms

Licensing and Registration Forms

Closing a Brokerage

Compliance Audit

Education Forms

Voluntary Broker Resolution Program Forms

Complaint Forms

All Forms