SRA Accounts Rules - Residual Balance Breaches in the Spotlight

Introduction

Residual balances are a common source of breaches noted by Reporting Accountants every year and as such, it is unsurprising that they remain a hot topic for the SRA.

During this webinar, expert speaker Luke Dickinson will provide an insight into what SRA and Law Society guidance on residual balances means to you in practice and will offer guidance on how all firms should be applying best practice procedures.

Luke will also share experiences that will help firms stay on top of the historic problem posed by residual balances.

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
• Creating projects and influencing behaviours within the firm to ensure residual balances do not become a problem.

This webinar was recorded on 14th May 2024

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