What information is necessary for the commission to audit trust accounts?

For the commission to conduct an audit of trust accounts, deposit amounts and disbursement dates are essential pieces of information. This data provides a clear understanding of the inflows and outflows of funds within the trust account, allowing auditors to track transactions accurately and ensure compliance with legal and regulatory requirements. Monitoring these financial movements helps to ensure that client funds are being handled appropriately and transparently.

While detailed financial statements, a complete ledger of everything in the trust account, and records of commissions paid may provide additional context or assist in a broader financial assessment, they are not the primary data necessary for an audit. The specific details regarding deposits and disbursements are crucial for verifying that funds are managed correctly in accordance with state laws governing real estate transactions. This focus on transaction-level detail aligns with the commission's need to ensure that brokers maintain trust accounts ethically and legally, protecting the interests of all parties involved in real estate transactions.