All business property practitioners whose annual revenue is R2,5 million or above must have their financial statements audited, unless they have a PPRA-issued trust account exemption letter in which case they can have their financial statements independently reviewed.
1. The financial statements need to be audited within six months of the financial year-end of the business property practitioner;
2. The audited financial statements DO NOT need to be submitted to the PPRA, but should be readily available if requested by PPRA or during an inspection