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.
The “new” SRA Accounts Rules are with us and in full force. They are shorter and simpler than ever before, but the alterations and “relaxations” need to be addressed by everyone, not just your accounts staff.
This course will help everyone to remain compliant and operate your businesses with as much ease as possible.
This session will look at the following topics:
- An outline of the new Rules
- Can we bill before we do the work?
- Dealing with small balances on Client Account ledgers
- Can we avoid paying any interest to clients?
- Duties of the COFA – what future for the reporting Accountants?
- Third party managed accounts – a viable option?
- Reconciliations – what, who and how?
- Frauds and scams to avoid
As a result of attending this course, you will:
- understand all the major changes
- know how to adapt and operate your systems and procedures compliantly
- understand the SRA’s expectations better
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.
- “Client money” – what is it and how must we handle it?
- Correcting breaches of the rules
- Paying interest
- Operating joint accounts and client’s own accounts
- Third party managed accounts
- Obtaining accountant’s reports
- Systems, controls and records
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
Compliance & Professional Ethics Courses
See all our compliance courses
Business Support Courses
See all our business support courses