23 MAY 2014
The Estate Agency Affairs Board (EAAB) is mindful of the legitimate concerns of the estate agency firms and practitioners who have not yet received their Fidelity Fund Certificates for 2014 as a result of audit reporting non-compliance issues.
Estate agents are however reminded that the EAAB is precluded by the provisions of the Estate Agency Affairs Act from issuing Fidelity Fund Certificates under such circumstances.
Estate agents that have been rendered disqualified by virtue of non-audit compliance are required to go through a formal process before the Fidelity Fund Certificate/s can be issued even after the outstanding audit reports have been duly received. The EAAB is doing everything possible to expedite the issue of Fidelity Fund Certificates once the disqualification has been removed. A substantial number of Fidelity Fund Certificates have already been issued under circumstances where the non-audit compliance has been satisfactorily remediated.