CPA Engagement Letter to Perform Agreed-Upon Procedures for Real Estate Brokerage Trust / Escrow Accounts - North Carolina

CPA Engagement Letter to Perform Agreed-Upon Procedures for Real Estate Brokerage Trust/Escrow Accounts is a legal document that was released by the North Carolina Real Estate Commission - a government authority operating within North Carolina.

FAQ

Q: What is a CPA engagement letter?
A: A CPA engagement letter is a formal agreement between a certified public accountant (CPA) and a client, outlining the scope of services to be provided.

Q: What are agreed-upon procedures?
A: Agreed-upon procedures refer to specific tasks or tests that the CPA will perform, as agreed upon with the client.

Q: What is a real estate brokerage trust/escrow account?
A: A real estate brokerage trust/escrow account is a specialized bank account where funds related to real estate transactions are held and managed.

Q: Why would a CPA perform agreed-upon procedures for trust/escrow accounts?
A: CPAs may perform agreed-upon procedures to ensure that the funds held in the trust/escrow accounts comply with applicable laws and regulations.

Q: What does the CPA engagement letter for real estate brokerage trust/escrow accounts in North Carolina entail?
A: The engagement letter outlines the specific agreed-upon procedures the CPA will perform for the trust/escrow accounts, and any limitations or exclusions to the engagement.