SRA accounts rules update – October 2025

This webinar will explore the latest developments in the SRA accounts rules following the Axiom Ince intervention.  The webinar will  cover the current relaxations firms can still utilise, the regulator’s tougher stance on compliance (including Rule 3.3 and banking facilities), and the updated guidance on systems and procedures firms should adopt. We will also discuss the growing focus on the COFA’s responsibility for financial oversight and insights from accountants on strengthening compliance and financial management.

Topics covered include:

• An outline of the current rules
• The key developments
  • How do we describe ‘disbursements’ in our bills?
  • Are we charging the right VAT?
  • Dealing with residual balances on client account ledgers
  • Offering of banking facilities – case studies and examples
• How much is interest a contributor to our overall profits?
• Recent enforcement actions and penalties
• What should our relationship be with our reporting accountants?
• Key checklists and benchmarks
• Duties of the COFA – KPIs