Accounts Rules Update including recent amendments

The ‘new’ Accounts Rules continue to concern law firms, despite them having been introduced more than four years ago. The intervening lockdown has not helped firms to adapt their processes to the new, leaner environment envisaged by those new rules.

Further, some relaxations have not found favour and recent proposed amendments have reverted to the old position in one or two ways.

The inability to offer banking facilities through client account remains a key bone of contention particularly for some, as does the perennial issue of residual balances. The relationship with the auditors and accountants has changed subtly too.

This webinar covers the following topics:

• The ‘new’ Rules in outline
• Residual balances
• Banking facilities
• Key issues that could justify a qualified report
• Benchmarks to aim for
• Roles of the accountants and COFA