The Institute of Legal Finance & Management (ILFM) has today announced the launch of iCOFA – The COFA Institute, a dedicated new resource designed to support Compliance Officers for Finance and Administration (COFAs), Deputy COFAs and members of a compliance team directly supporting a COFA across the UK legal sector.
The role of the COFA is more critical than ever in today’s evolving regulatory landscape. Responsible for safeguarding firms’ compliance with the Solicitors Regulation Authority (SRA) Accounts Rules, managing breaches, and ensuring financial integrity, COFAs carry a heavy burden. Yet many find themselves working in isolation, with limited support or opportunities to share best practice.
iCOFA has been created in direct response to feedback from ILFM members. With the ILFM already representing over 300 COFAs, members consistently highlighted the need for a more specialist, targeted, and independent forum. iCOFA now answers that call, providing practical guidance, resources, and a thriving peer network focused entirely on the challenges and responsibilities of the COFA role.
Independent. Informed. Invaluable.
Membership of iCOFA offers all the benefits of ILFM membership plus:
- Independent advice tailored to COFA responsibilities and challenges
- Exclusive training including the flagship COFA Masterclass
- Peer-to-peer networking with COFAs nationwide
- Practical resources to simplify regulatory obligations, including free access to the ILFM COFA Handbook
- Support in building systems and controls that strengthen firm-wide compliance
Individual membership is available at just £146 + VAT per year, offering exceptional value for those committed to managing compliance with confidence.
A voice for the profession
While iCOFA will remain strictly independent, it is expected that the Institute will, where appropriate, engage with and potentially lobby the SRA on issues directly affecting COFAs. By doing so, iCOFA aims to ensure that the perspectives and practical realities faced by compliance professionals are heard at the highest regulatory levels.
Why iCOFA matters
Tim Kidd, Chief Executive of the ILFM, commented:
“The COFA role is central to trust in the legal profession. Yet too often COFAs face the pressure of compliance alone. iCOFA brings them together, offering expert resources and independent support so that they can protect their firms with confidence – and with the backing of a national network. By launching iCOFA, the ILFM is strengthening its commitment to the profession and responding directly to the needs of our members.”
Join the COFA Institute
iCOFA is open to all COFAs, Deputy COFAs, or members of a compliance team directly supporting a COFA, working in law firms across England & Wales.
To find out more and join iCOFA today, visit www.cofa.institute or contact the ILFM team on 020 8302 2867.
