Regulatory and Compliance Training & Consultancy

Solicitors Accounts Rules Training

Legal Finance Professionals provide three Solicitors Accounts Rules Training courses.

• Solicitors' Accounts Rules 1998: A Practical Guide to Compliance
• Solicitors' Accounts Rules and Beyond
• Acting for Solicitors - A Guide for Reporting Accountants

Solicitors’ Accounts Rules 1998: A Practical Guide to Compliance

3 CPD Hours

“Well paced, easy to listen to and thorough” E.F. Partner, West Midlands

This course focuses on the main provisions of the Solicitors‘ Accounts Rules 1998 as they affect solicitors in private practice. Although assuming no prior knowledge, delegates attending this course will quickly build a sound understanding of the Solicitors’ Accounts Rules 1998 by looking at the most common compliance issues that occur in practice and the pitfalls to be avoided. The course will also cover in detail the significant changes made to the SAR's in July 2008 governing the treatment of residual balances.

Delegates attending this course will benefit from Richard Lane's expert knowledge and experience in the following areas -

• Principals‘ responsibilities under the SAR’s
• Use of client and office bank accounts
• Receiving/Transferring costs & disbursements
• Dealing with regular payments from the LSC
• Accounting requirements
• Deposit interest rules
• Accountant's Reports & waivers
• Monitoring & enforcement by the SRA

This course is designed to meet the needs of all fee earning staff, principals in practice, compliance/risk officers, finance staff, practice managers and reporting accountants.

The Solicitors' Accounts Rules and Beyond

6 CPD Hours

“Very informative & relevant course, particularly as a partner in the firm” D.F. Partner, Norfolk

Pulling together the main elements of several of our most popular courses, delegates attending this course will benefit from Richard Lane‘s expert knowledge of this subject area. Delegates attending this course will further their knowledge of the Solicitors’ Accounts Rules, learn about the common problem areas that are likely to be encountered and gain an invaluable insight into the powers and procedures of the Solicitors Regulation Authority and how to survive an SAR inspection visit.

This course is designed to meet the needs of all fee earning staff, principals in practice, compliance/risk officers, finance staff, practice managers and reporting accountants.

Acting for Solicitors - A Guide for Reporting Accountants

6 CPD Hours

This course has been tailored to meet the needs of accountants involved in the audit of firms of solicitors under the Solicitors' Accounts Rules 1998.

Delegates attending this course will benefit from Richard Lane's expert knowledge and experience of this important topic.

This course will cover the followig topics -

The Role of the SRA

• The regulatory regime
• Latest facts & figures from the SRA

The Solicitors' Accounts Rules 1998: Parts A to E

• Why do we need the Solicitors' Accounts Rules?
• The Accounting Requirements
• SRA guidelines for accounting systems & procedures
• Definition of clients' and office money
• Examples of clients' money
• What is a client bank account?
• The proper treatment of costs & disbursements
• Withdrawals from Client Account
• Transferring costs and disbursements
• Method of withdrawals from client account
• Accounting for legal aid
• Deposit Interest Rules

High Risk and Problem Areas

• Understanding risk in a solicitor's firm
• Identifying problems

The Solicitors' Accounts Rules 1998: Part F

• Duty of care
• Administrative issues
• Test procedures
• Completing the Accountant's Report Form

Open Forum

• Your questions answered

This course is designed to meet the needs of those staff from accounting firms acting for firms of solicitors and is appropriate for all levels of staff from partners to audit clerks. It is also suitable for principals in practice,fee earning staff, compliance/risk officers, finance staff and practice managers.