SRA Accounts Rules 2019 – more activity from the SRA

Recorded on: 26/04/2022


Law firms are at last starting to come to terms with the import of the new, shorter Accounts Rules, more than two years after their introduction. A big law firm was recently fined a substantial sum for handling client monies without undertaking any underlying legal work. Another solicitor has been struck off for allowing substantial sums to be passaged through a firm’s client account, and another for allowing control of the accounting systems to be handled by inappropriately trained staff. It goes on.

That said, there are many relaxations of which practitioners can take advantage, and there are some alterations that need to be addressed if firms are to remain compliant and yet operate their businesses with as much ease as possible.

Despite the Covid restrictions and some alterations to the SRA resources that have been published, we offer some thoughts on the measures the regulators would be looking for in the systems and procedures firms should have in place. But some key questions still need fully answering.

Fee-earning and administrative staff would both benefit from this webinar which will consider:

  • An outline of the ethos of the Accounts Rules
  • Does ‘less detailed’ mean ‘less onerous’?
  • Can we bill before we do the work?
  • Dealing with residual balances on client ledgers
  • Duties of the COFA – what future for the reporting accountants?
  • Third-party managed accounts – an increasingly attractive option?
  • Reconciliations – what, when, who and how?
  • Hardening attitude of the investigating accountants
  • Other frauds and scams to avoid

Price


Members:  £115.00

Non members:  £159.00

Sole practitioner:  £80.00

All prices ex-VAT

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01904 653 550 webinars@legalfutures.co.uk
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