SRA Accounts Rules:are you up to date to the serious and common breaches?

A webinar brought to Dorset Law Society Members by Janet Taylor of PKF -Francis Clark.

The latest version of the SRA Accounts Rules came into force in November 2019 and law firms and their reporting accountants will inevitably be considering how things are working so far: whether any changes already made by the firm are suitable; if there are other opportunities for change; or perhaps further concerns regarding the protection of client money.

As the Rules state the ‘authorised body’s managers are jointly and severally responsible for compliance by the authorised body, its managers and employees with the rules.’ And if you are the COFA there are of course extra responsibilities. There is no hiding place!

So do you feel fully up to date? Are you aware of the key common breaches and serious mistakes that arise? Are you confident in your systems and procedures?

This webinar will include:

• A review of the key principles and rules, looking at practical examples;

• Guidance from the SRA on the Accounts Rules;

• High risk areas including: the prohibition on providing banking facilities; dealing with residual client balances; how to properly review the client account reconciliation (warning signs of problems).

By attending this webinar, you will gain

• A practical understanding of the implications of these less prescriptive rules;

• A full update on the latest Guidance from the SRA and what else may be expected from them;

• An understanding of where and how more serious breaches can arise and how to avoid them in your firm.

Duration 75 minutes

Presenter

Janet Taylor, Director, PKF Francis Clark

Janet joined PKF Francis Clark as part of the firm’s specialist legal team in 2018 having been an owner in Taylor Mowbray LLP for over 12 years. Prior to that she spent over 10 years with another top 20 accounting firm heading up their specialist solicitors’ group. A highly experienced presenter Janet provides relevant and practical training on a number of financial issues for lawyers. Over the last 18 years she has regularly presented training on the SRA Accounts Rules to a wide range of accounting and law firms through in-house and public seminars. Clients have included several major international and national law firms as well as their reporting accountants. Janet is the current Subject Matter Expert for the ICAEW’s Solicitors Community Advisory Group

Any solicitor residing or practising within the county of Dorset, Legal Executive or any trainee solicitor with a training contract within the county of Dorset, may apply to become a member of the Dorset Law Society.

Applications for membership are warmly welcomed. Please email enquiries@dorsetlawsociety.co.uk for further details.

Fees for 2020- 2021 only

For the year 2020-2021 and due to the Covid-19 pandemic, the Dorset Law Society Committee have agreed to waive the member fees to assist local law firms.