2024-25 Update: SRA Accounts Rules

by Steve Collings

Part of a series of 2024 updates. The Solicitors Regulation Authority’s (SRA) Accounts Rules have historically been complex issues to deal with in practice. This update course will focus on the SRA Accounts Rules 2019 (which is when they were most recently updated) and some of the related challenges accountants are likely to face.

This module will enable you to

  • Appreciate the risks and obligations involved in onboarding a solicitor
  • Emphasise the importance of fair payment of interest accrued by solicitors holding client or third-party funds
  • Draw attention to the dangers of cyber attacks and outline methods for safeguarding data
  • Highlight issues that can arise as a result of poor accounting by law firms charged with holding client funds

About the module

There are challenges involved in taking on a solicitor as a client, not least being getting to grips with the legislative requirements of the Solicitors Regulation Authority. While the SRA Accounts Rules may seem daunting, mastering a new set of industry-specific regulations will add another string to your bow and equip you with the necessary knowledge to report on solicitors' compliance.

This course focuses on the 2019 updates to those rules (which is when they were most recently updated) and some of the client risks reporting accountants should be aware of.

Contents

  • SRA Accounts Rules

How it works

Author

Steve Collings

Steve is Director at Leavitt Walmsley Associates, a firm of Certified Chartered Accountants. He is an internationally recognised speaker, writer and commentator on all matters to do with financial reporting and auditing. Steve is a prolific author, having written over 25 books and currently represents the North West of England on ACCA’s Practice Network Panel.

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