1
Type
Speaker
CPD Hours Level
Seminar 6 IntroductionInformation
Accreditation Information
SRA Competency A
VIEW FEEDBACK
'I thought Joanna Morris was brilliant, extremely well presented'

Introduction

The protection of client money is a priority risk in the SRA Risk Outlook 2018/2019 and it is essential that anyone who works in the finance department or deals with the accounts in a law firm has good knowledge and understanding of the rules. The cost of getting it wrong in relation to the SRA Accounts Rules can be devastating!

This year will see the SRA introduce a new set of SRA Accounts Rules - the first major update for over 20 years. The new rules will be simpler with only 13 rules but they will have lengthy guidelines to follow with them. They will allow you to make some considerable changes to the way you work.

This course will guide you through both set of rules comparing the differences along the way.

What You Will Learn

This course will cover the following:

  • Setting the scene - a history of the accounts rules and an update of the SRA Risk Outlook and the SRA Financial Stability Programme
  • The new Standards and Regulations including an overview of the new Accounts Rules and Transparency Rules
  • What makes accounting in law firms so different
  • Double entry book keeping principles
  • Why do we have a client and office account?
  • Which accounting entries go into each account
  • Key definitions in the SRA Account Rules
  • What are disbursements and professional disbursements? How should they be billed and when and how should they be paid?
  • The key rules including:
    • The principles
    • Rules 1 - 12 General Rules including:
      • Overarching objective and underlying principles
      • Interpretation
      • Persons governed by the rules
      • Principals' responsibility for compliance
      • Duty to remedy breaches
      • Categories of money
    • Rules 13 - 21 Client money and the operation of the client account including:
      • Client accounts
      • The use of a client account
      • Client money withheld from the client account
      • Receipt and transfer of costs
      • Receipt of mixed payments
      • Withdrawals from the client account
    • Rules 22 - 25 interest rules
    • Rules 26 - 30 accounting systems and records
    • Rules 31 - 52 monitoring and investigations by the SRA and the Accountants Report
    • Rules that are most frequently breached
    • What is a non-material and material breach
    • Recording and reporting of breaches to the COFA
    • The new SRA Accounts Rules 2019 in more detail - what the changes may mean to you

Quick Quiz - Test Your Knowledge: Solicitors Accounts Rules

Troubled by residual client balances or require a SARs health check? Read how to ensure regulatory compliance with our new consultancy services

Book now

Added to basket

Seminar | 22.10.2019

Birmingham | 9:30am - 5:15pm


SRA Accounts Rules for Finance Staff - Back to Basics

Checkout
Continue Shopping
Oct
22
2019
Birmingham
9:30am - 5:15pm
Add

Added to basket

Seminar | 14.11.2019

Southampton | 9:30am - 5:15pm


SRA Accounts Rules for Finance Staff - Back to Basics

Checkout
Continue Shopping
Nov
14
2019
Southampton
9:30am - 5:15pm
Add

Added to basket

Seminar | 28.11.2019

London | 9:30am - 5:15pm


SRA Accounts Rules for Finance Staff - Back to Basics

Checkout
Continue Shopping
Nov
28
2019
London
9:30am - 5:15pm
Add

Added to basket

Seminar | 05.12.2019

Bristol | 9:30am - 5:15pm


SRA Accounts Rules for Finance Staff - Back to Basics

Checkout
Continue Shopping
Dec
5
2019
Bristol
9:30am - 5:15pm
Add

Added to basket

Seminar | 14.01.2020

Manchester | 9:30am - 5:15pm


SRA Accounts Rules for Finance Staff - Back to Basics

Checkout
Continue Shopping
Jan
14
2020
Manchester
9:30am - 5:15pm
Add

Added to basket

Seminar | 03.02.2020

Exeter | 9:30am - 5:15pm


SRA Accounts Rules for Finance Staff - Back to Basics

Checkout
Continue Shopping
Feb
3
2020
Exeter
9:30am - 5:15pm
Add

Added to basket

Seminar | 11.02.2020

Cardiff | 9:30am - 5:15pm


SRA Accounts Rules for Finance Staff - Back to Basics

Checkout
Continue Shopping
Feb
11
2020
Cardiff
9:30am - 5:15pm
Add

Added to basket

Seminar | 21.04.2020

Leeds | 9:30am - 5:15pm


SRA Accounts Rules for Finance Staff - Back to Basics

Checkout
Continue Shopping
Apr
21
2020
Leeds
9:30am - 5:15pm
Add

Added to basket

Seminar | 17.09.2020

Plymouth | 9:30am - 5:15pm


SRA Accounts Rules for Finance Staff - Back to Basics

Checkout
Continue Shopping
Sep
17
2020
Plymouth
9:30am - 5:15pm
Add
Prices (ex VAT)
Smart
Plan Information
£216
Season
Ticket Information
£240
Standard
£480
Group bookings
Discounts are available for multiple places and if you have 5 or more people interested in this course and would like to discuss holding it in your area or on an in-house basis then please email us at information@mblseminars.com
Can’t Make the Date?

Please let us know if you wish to be notified when new dates are added for this programme

Related Events