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Long awaited guidance from the Solicitors Regulation Authority (SRA) on the SRA Accounts Rules has finally been publishe...SRA Guidance on the SRA Accounts Rules [2019] Issued - read more
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SRA Accounts Rules 2011
On 6 October 2011, the SRA Accounts Rules came into force replacing the Solicitors‘ Accounts Rules 1998. The SRA Accounts Rules forms part of the new SRA Handbook and contains the Solicitors Regulation Authority (SRA) rules which govern the handling of all monies received by solicitors including clients’ money.
The fundamental obligation that must be observed when dealing with client money is to keep all funds belonging to the practice and clients separate and to keep client's money in a bank or building society account identifiable as a client account.
Proper accounting systems must be established with controls over those systems to ensure compliance with the rules. Specific accounting records need to be maintained to show the position with regard to the money held for each client.
As an accredited CPD provider we can design and deliver bespoke in-house training courses tailored to your individual needs or you may prefer to book on to one of our scheduled CPD training courses listed below which are relevant the SRA Accounts Rules:
- SRA Accounts Rules: A Practical Guide to Compliance
- Acting for Solicitors - A Guide for Reporting Accountants
- COFA - The Role and Responsibilities Explained
- VAT for Solicitors
View dates, prices and locations for our full range of CPD courses for solicitors.
In addition to the CPD training we provide, our expertise in relation to the SRA Accounts Rules allows us to offer a range of consultancy services for the benefit of solicitors in private practice and the managers of Alternative Business Structures (ABS).
The services we offer include:
- SRA Accounts Rules compliance health checks
- Advising on the implementation of accounting systems and controls
- Assisting solicitors or firms subject to investigation by the Solicitors Regulation Authority including visits by Forensic Investigations
- Due Diligence on merger or acquisition of another firm
- Assistance in the selection and recruitment of legal cashiers and other finance staff
To discuss how we can help you or your firm call us now on 0330 223 5346