Solicitors accounts rules

Solicitors accounts rules

The solicitors accounts rules (strictly the SRA accounts rules) are shorter and simpler than ever before, but everyone should know about the changes, not just Accounts staff.

Our solicitors accounts rules course will help you understand the SRA’s expectations and operate your systems and procedures compliantly.

Course content

E-learning

E-learning overview

The SRA Accounts Rules were introduced on 25 November 2019. This e-learning course is essential for all solicitors to comply with their obligation (Code of Conduct for Solicitors 7.1) to keep up to date with the law and regulation governing the way they work. It provides a comprehensive survey of the rules and their practical implications.

Content

  1. “Client money” – what is it and how must we handle it?
  2. Correcting breaches of the rules
  3. Paying interest
  4. Operating joint accounts and client’s own accounts
  5. Third party managed accounts
  6. Obtaining accountant’s reports
  7. Systems, controls and records

Outcomes

As a result of completing the course, delegates will be able to:

  • Identify what is (and what is not) client money
  • Handle client money properly
  • Avoid common traps and misunderstandings
  • React properly when errors occur
  • Distinguish between expenses and disbursements
  • Manage the risks effectively and efficiently

Duration

1 hour

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