Solicitors’ Accounts Rules - Dealing with Residual Balances
Since 2008, when the rules around dealing with residual balances first appeared, this has been a hot topic with both the SRA and a common source of breaches for the reporting accountants.
This webinar will cover recent guidance released by the SRA, and the speaker will share his experiences from his years as a reporting accountant.
What You Will Learn
This webinar will cover the following:
- Applying to donate small balances to charity - what the SRA means by ‘prescribed circumstances’
- How to deal with larger balances and making an application to the SRA
- What the SRA are likely to view as ‘reasonable steps’ to trace the owner of client money
- How to stay on the right side of the reporting accountant and avoid a qualified accountant’s report
This webinar was recorded on 19th March 2021
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