Users are given client out of date error when using SVN on OSX

A user has reported that Subversion source control cannot connect with the editor when running on a Mac (OSX). The following error is given when attempting to do so:

SourceControl:Error: Error svn: E155021: This client is too old to work with the working copy at
SourceControl:Error: Error '/Users/Shared/UEQA_SCTest/SVN/EngineQATest' (format 31).
SourceControl:Error: Error You need to get a newer Subversion client. For more details, see
SourceControl:Error: Error [Link Removed]
SourceControl:Error: Error Failed to connect to source control. Check your settings and connection then try again.

1. Set up a subversion repo (The client used in this repo was SmartSVN)
2. After setting up the repo, add and check in a new blank project
3. Open the new project, enter your information for the SVN repo to set up source control
4. Click "Apply Settings"
   Result: Error message is given (see description)
   Expected: The source control connection should be successful.