Title Agencies

Annual Review of Title Insurance Agent Escrow Accounts

Is your company ready for the new compliance audit of title insurance agents? This newly signed legislation from House Bill 157(HB 157) and Senate Bill 185(SB 185), requires all title insurance agents in Ohio to have a review of all of their escrow bank accounts, by a Certified Public Accountant.  The compliance audit will involve review and testing of several monthly documents, including three-way bank reconciliations, disbursements and receipt items. Every year the audit period under review will be from September 1 - August 31 with  December 31 the deadline for the certified audit report. 

S.J. Meyer & Associates, Inc., CPAs is a public accounting firm located in Clayton, Ohio.  We have dedicated staff members that will be performing these compliance audits. Our firm will be able to give your company the personal attention before, during and after the audit.  Our firm is experienced in audit procedures and engagements and will be able to walk you through the audit, rather than learn the process at your expense.

We encourage you to call our firm to review your business operations to determine the timeline for your compliance audit and estimated fees.  Fees will vary depending on the number of escrows accounts and activity within each account.  Please don't wait till the last minute to arrange your compliance audit.  This could lead to delays and missed due dates, which could lead to the risk of losing your license.

Click on the List of Frequently Asked Questions concerning the Title Agency audits.  Please contact Todd M. Williams, CPA at 937-832-5209 to review any questions you may have and to provide you with an estimated fee for our services to perform the compliance audit.