Does Shorter Mean Less Onerous? The SRA Accounts Rules 2019
This live session will cover the essentials of the new SRA Accounts Rules, in force from 25 November 2019, though now is as good a time as any to reflect upon the changes that will need to be implemented in time for the new regime.
Much reduced in length, the new rules will require each firm to make up its own mind about how to satisfy the fundamental principles of our guardianship of client money.
With new definitions, new (arguably tighter) timeframes and new flexibilities the new rules will be much easier to comply with - or will they?
This session will enable you to participate in a round-table discussion of the key issues from your own office, and you will be able to speak and contribute as if we were all in the same room together.
What You Will Learn
This live broadcast will cover the following:
- Outline of the OLD rules - key issues arising
- New definition of client money
- Is there flexibility in when we can be ‘paid’ for our work?
- New timeframes
- Residual balances on client ledger
- Use of client account as a banking facility - new rules
- Loss of interest - a new, more relaxed approach
- Training Performance Monitoring and Appraisal Systems (‘TPMAs’) - a worthwhile option?
- New rules on accountants' reports and qualified reports
- The role of the COFA in future
Troubled by residual client balances or require a SARs health check? Read how to ensure regulatory compliance with our new consultancy services.
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.