In October, 2011 the new accounts rules came into force. Are you up to date?
Solicitors Accounts Rules apply to all solicitors in practice and most working in in-house legal departments.
The rules continue to be very detailed and this course covers all the latest requirements and also considers what constitutes best practice. Currently failure to implement the accounts rules makes up the majority of referrals to the Solicitors Disciplinary Tribunal.
Don’t get caught out by the new requirements. The consequence of non-compliance can be severe and range from fines, to reprimand and suspension, not to mention costs.
The course will cover:
- * The key principles which underpin the Solicitors Account Rules
- General principles and interpretation of the rules and responsibility for compliance
- The new post of Compliance Officer for Finance and Administration
- Correctly distinguishing between client, office and controlled trust money
- Dealing profit costs and correctly identifying disbursements
- Client monies and the operation of client accounts
- Pragmatic approach to key accounting and reconciliation requirements
- New approach to interest payments
- Accounting systems and records
Accountants checklist and report