PSRA and MUD - Reporting in Respect of Certain Property-Related Entities PRE-RECORDED

Course details

Balancing important short term tasks with the completion of critical but longer term project-based work is a key challenge for every professional.  This course will give you the skills and techniques to be able to handle a project successfully - ensuring deadlines are kept and objectives are met.

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PSRA (Property Service Regulatory Authority) Reporting for Accountants

The Property Services (Regulation) Act 2011(the Act)introduced a new regime for the licencing and regulation of property service providers in the Republic of Ireland. Since the publishing of the Act there have been a number of related statutory instruments commencing the sections of the Act. More notably the PSRA brought the Property Services (Regulation) Act 2011 (Clients Money) Regulations 2012 into effect on 11thJune 2012.This introduced the requirement for property service providers to have in place appropriate procedures as defined in the Regulations, with respect to the holding of clients’ money. As part of the annual licence renewal process,property service providers are required to submit, amongst other things, an Accountants Report regarding their level of compliance with these regulations. Those familiar with this area will recall the finalization of an Accountants Report format by the PSRA in May 2013. This Course will provide you with an overview of some of the key issues that affect your work, as a Reporting Accountant, and provide you with clarification on most aspects of the procedures, including any updates which have been published as at the date of the course delivery.

Accounting for and Auditing Owners’ Management Company’s and consideration of the Multi-Unit Development Act 2011.

Topics covered include

• Up to date overview of the Property Services Legislation and Regulations
• Clarification of the requirements in preparing an Accountants Report for the Property Service Provider licence renewal process
• Addressing certain key aspects of the clients’ money procedures with reference to a number of different Property Service providers including Auctioneers, Property Management Agents, Letting Agents, Livestock Marts, etc.
• Addressing specific key risks of an Owners Management Company at the planning stage whether a company limited by guarantee, company limited by shares, or other.
• How to audit key issues including transfer of common areas, application of laws and regulations, outstanding service charges, annual report etc.
• Addresses certain aspects of the Multi-Unit Development Act 2011 and implications for the audit and/or financial statements.
• How to address issues associated with outstanding service charges.
• What can go wrong on Property Management Companies and how to avoid it