A Toolkit for New Law Firm COFAs - A ‘How to’ Guide

Introduction

Historically, financial issues have been identified as a key risk for all law firms, which is why the position of the Compliance Officer for Finance and Administration (COFA) is vital in ensuring that firms meet their regulatory obligations under the SRA Standards and Regulations 2019 and the SRA Authorisation Rules.

As a newly appointed COFA it can be a challenging prospect to get to grip with the wide ranging and onerous responsibilities of this role. The COFA role also carries personal liability.

Presented by expert speaker Paul Bennett, this new virtual classroom seminar will provide an invaluable insight into the role and offer guidance on how new COFAs can best tackle their duties.

What You Will Learn

This live and interactive session will cover the following:

• What is expected of the COFA?
• Monitoring, recording and reporting breaches
• The SRA enforcement strategy - why it matters to you and your firm
• Firm-based regulation
• The SRA Codes of Conduct and the COFA
• SRA Solicitors Accounts Rules (2019) - common risk issues
• Effective systems and controls - compliance and business systems
• Anti-money laundering - showing compliance at a thematic visit
• Liability and dilemmas for the COFA
• Working successfully with the COLP and partners - some helpful ideas

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.