California Business And Professions Code Section 10238.1

(a) Every real property securities dealer shall file with the commissioner, annually, a report containing financial statements in accordance with generally accepted accounting principles, accompanied by an opinion thereon by a certified public accountant or a public accountant, based upon an audit of the dealer`s business subject to this article which is not materially restricted in scope. The report shall include, but not be limited to the receipt and disposition of all funds handled in connection with transactions subject to this article. The report shall be filed with the commissioner within sixty (60) days after the close of the period of the report unless, for good cause shown, the commissioner, in writing, extends the time therefor. The report shall contain at least the following: 1. Total number of sales, as principal or agent, subject to this article during the period, and 2. Total dollar volume of such sales. (b) The commissioner may, by rule or regulation adopted pursuant to Chapter 4.5 (commencing with Section 11371) of Part 1, Division 3, Title 2 of the Government Code, require such additional information as he deems necessary. (c) In the event that a real property securities dealer fails to file a report pursuant to this section the commissioner may cause an audit to be made and shall charge and collect the cost of the audit from the dealer.