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COVID-19: Staying compliant with the SRA accounts rules

Robert Blech, Professional Practices sector specialist, looks at compliance issues which law firms may be facing during the COVID-19 pandemic, including client confidentiality, client due diligence/ID checks and court appearances.

Residual client balances: an issue which is here to stay

With the Solicitors Accounts Rules being culled to just thirteen in its new form, residual client balances still remain important enough to remain as one of them. So why it this such a prevalent issue and are there any differences in the new rules to those of the previous ones?

Law firm banking - a decade of change

Heraclitus, Greek philosopher and pioneer of wisdom, is quoted as saying "change is the only constant in life”. Never has this been more true than when considering client money banking arrangements for legal practices.

Regulation and risk – the good, the bad and the ugly

Saffery Champness and the ILFM (the Institute for Legal Finance and Management) recently collaborated to produce their inaugural law firm survey. Titled “Regulation and Risk – The Good, The Bad and The Ugly”

SRA Accounts Rules 2019 guidance are you ready for 25 November

Whether you are working in a legal practice or carry out the role of external reporting accountant you should be fully aware of the new SRA Accounts Rules, within the new Standards and Regulations, coming into force on 25 November. It is vital that law firms give due thought to the implications for their accounting procedures and systems for dealing with client money.

Extending the off payroll working rules

Following consultation in Spring 2019, the Government has published the draft legislation for extending and reforming the current off-payroll rules. These already apply in the public sector but are being amended and extended to the private sector from April 2020.

Five pillars of good financial performance

As accountants we’re often asked by law firm clients what should they focus on to drive financial performance? You’ll get different answers from different accountants but we focus on five key pillars.

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