SRA Accounts Rules for Finance Staff - A Comprehensive Guide

Introduction

Are you confident your finance team is fully up to speed with the latest SRA Accounts Rules? Even the smallest mistake can put your firm at risk of regulatory breaches and financial penalties.

New for 2026, this 6-part modular webinar series is designed specifically for law firm finance staff who want clarity, confidence, and compliance in managing client money. You will gain practical insights into the rules, common pitfalls and the crucial role your team plays in safeguarding the firm.

Presented by expert speaker Jo Morris, you will not only understand the SRA Accounts Rules but also discover how to deal with problem areas such as residual balances, client interest, AML risks, and breach reporting. By the end of the series, your finance team will be equipped with the knowledge to stay compliant, protect the firm and work with greater assurance.

What You Will Learn

This modular webinar series will cover the following:

Module 1: Setting the Scene

This first module will set the scene for the series looking at:

• When the accounts rules were first introduced
• The main reasons for the accounts rules
• What is the double entry bookkeeping
• Glossary terms

Module 2: Overview of the SRA Accounts Rules - Part 1

Now we will move on to the actual rules themselves including:

• Part 1: General
• Rule 1 - Application section
• Part 2: Client money and client accounts
• Rule 2 - Client money
• Rule 3 - Client account
• Rule 4 - Client money must be kept separate
• Rule 5 - Withdrawals from client account
• Rule 6 - Duty to correct breaches upon discovery
• Rule 7 - Payment of interest
• Rule 8 - Client accounting systems and controls

Module 3: Overview of the SRA Accounts Rules - Part 2

• Part 3: Dealing with other money belonging to clients or third parties
• Rule 9 - Operation of joint accounts
• Rule 10 - Operation of a client’s own account
• Rule 11 - Third party managed accounts
• Part 4: Accountants’ reports and storage and retention of accounting records
• Rule 12 - Obtaining and delivery of accountants’ reports
• Rule 13 - Storage and retention of accounting records
• SRA guidance for the Accounts Rules

Module 4: Problem Areas - Residual Balances and Client Interest

In this module we will look at some of the key areas causing the most problems for finance staff:

• Residual balances
• We should never have residual balances!
• Why they happen
• How can we deal with them?
• Why they are a problem for us
• Client interest
• Have you got an interest policy?
• What does it say?
• How much interest are you actually paying the client?
• Why this is a problem area?

Module 5 - The Role of the COFA and the Recording and Reporting of Breaches

The role of the COFA was first introduced back in 2011 with the release of the SRA Handbook. In this module we will look at:

• Why do we need a COFA?
• The responsibilities of the COFA
• How do we record breaches of the Account Rules?
• Which breaches need reporting to the SRA?
• Other responsibilities of the COFA

Module 6 - AML and the Finance Team

The finance team are key in helping safeguard our firm against the money launderers. In this module we will look at:

• An overview of the Money Laundering Regulations
• The Legal Sector Affinity Group guidance and the SRA Sectoral Risk Assessment - key points for the finance team including:
• Cash
• Returning of monies
• Cryptocurrencies
• Payments to and from third parties
• Summary

This pre-recorded webinar will be available to view from Friday 23rd January 2026

Alternatively, you can gain access to this webinar and 1,900+ others via the MBL Webinar Subscription. Please email webinarsubscription@mblseminars.com for more details.