Accounting for solicitors and legal professionals is a specialist area that requires expertise and an understanding of the sector. On this page you can access a range of articles, books and online resources providing quick links to Solicitors' Accounts Rules, practical guidance and background information.
See our separate information on the amendment to FRS 5, UITF 40 and the taxation of professional firms and on accounting for limited liability partnerships (LLPs).
Useful links
ICAEW
Solicitors Group
The special interest group provides practical support to chartered accountants within the sector. It offers news updates and technical guidance, as well as conferences and seminars.
Solicitors' accounts rules
England and Wales
Solicitors' Accounts Rules
Full text of the guidance for accountants issued by the Solicitors Regulation Authority. The latest version was published in September 2011 and came into force in October 2011.
Solicitors' Accounts Rules – assistance for accountants
Guide to terminology, recent changes and frequently asked questions on topics covering all aspects of preparing, completing and delivering accountant's reports.
Solicitors' Accounts Rules: Previous Accounts Rules
Older versions of the rules, including versions from 2007 and 2008, are also available.
Guide Online
Full text of the The Guide to the Professional Conduct of Solicitors from the Law Society, which applies to conduct occurring before 7 July 2008.
Northern Ireland
Solicitors Accounts Regulations
Full text of the regulations as published by the Law Society of Northern Ireland.
Scotland
Commonly Used Rules
Full text of the Professional Practice Rules and the Guidelines and Accounts Rules from the Law Society of Scotland, including:
- Accounts Rules
- Accounts Certificate Rules
- Simple Guide to Accounts Rules and Money Laundering Regulations
Other resources
Law Management Section
Website for the Law Management Section of the Law Society. The section focuses on various aspects of practice management including accounting, finance and tax issues for practices. For a number of years the LMS has published an annual LMS Financial Benchmarking Survey, which is currently prepared by accounting firm Hazlewoods LLP.
Legal Services Commission
Executive non-departmental public body replacing the Legal Aid Board under the Access to Justice Act 1999.
Review of the Regulatory Framework for Legal Services in England and Wales
Archived website to support the review of the regulatory framework for legal services (often referred to as the Clementi report). Chapter F of the final report, published on 15 December 2004, looked at Alternative Business Structures including Multi-Disciplinary Practices.
Online articles
The library provides access to a range of articles in full text from leading business, finance and management journals.
You will need to be logged-in to the website to gain full access to the range of articles available online.
Articles and books in the Library collection
To find out how you can borrow books from the Library please see our guide to book loans.
You can obtain copies of articles or extracts of books and reports by post, fax or email through our document delivery service.
Can't find what you're looking for?
If you have any difficulty in finding the material you are looking for please contact the enquiry team by phone on +44 (0)20 7920 8620, by fax on +44 (0)20 7920 8621 or by email at library@icaew.com.
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