Mandatory Requirement: Business brokers who handle client deposits, sale proceeds, or stakeholder funds in a trust account must complete an annual independent audit.

Audit Period: The standard financial year runs from 1 July to 30 June.

Due Date: Audits must generally be completed and lodged with your state's regulatory authority within three months after 30 June (typically by 30 September).

Auditor Requirements & Qualifications: The auditor must hold a valid public practice certificate from a recognised body like CPA Australia, CA ANZ, or the IPA.