Solicitors Accounts Rules - A Practical Guide

Introduction

The new Accounts Rules amount to only 13 rules over 6 pages and no longer give as much guidance as to how to comply with the trickier elements.

But the fact that the rules no longer say much does not alter the basic law, the basic jurisprudence of the Courts and the Legal Ombudsman and there is no real expectation that much need change in the light of the new rules.

Steady as she goes, would seem to be the main theme, as recent SRA resources would suggest.

However, the rules do allow some flexibility and this live broadcast session will discuss what has changed, what has not and what the expectations will be of the regulators and the external accountants.

What You Will Learn

This live and interactive broadcast will cover the following:

• The Accounts Rules
• What has not changed
• Use of client account as a banking facility
• Residual balances and how to deal with them
• VAT on disbursements - the latest
• Bank branches in England & Wales - ‘all my branches have closed’
• Duties in relation to interest - do you want to sign away your obligations?
• The new - and current - position on accountants’ reports and qualifications
• The role of the COFA
• New rules on billing?
• New rules on reconciliations - clients’ own accounts
• Do you need to change anything?

Quick Quiz - Test Your Knowledge: Solicitors Accounts Rules

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.