Displaying 1-10 of 47 results
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Latest on LSB’s list of binding directions for the SRA
- Article
- 21 Aug 2025
On 27 May 2025, the Legal Services Board (LSB) issued a number of ‘Directions’ to the SRA to improve various systems and controls shortcomings in the wake of the Axiom Ince review report.
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Solicitors Accounts Rules: a practical refresher on key compliance areas
- Article
- 29 Jul 2025
In ICAEW’s recent webinar, Janet Taylor of Taylor Mowbray LLP and Andrew Baker of RSM UK discussed recent regulatory insights and took a deep dive into some of the practical issues of SRA Accounts governing residual balances and managing client money.
Why succession planning matters in professional firms
- Article
- 28 Jul 2025
Succession planning is often viewed as a future problem – something to be addressed when retirement is on the horizon. But in reality, it’s a strategic imperative that professional firms must tackle early and revisit often. Whether operating as a partnership, LLP, or company, the absence of a clear succession strategy can lead to operational disruption, financial strain, and reputational damage. This article explores the risks of inadequate planning through illustrative scenarios and offers practical guidance on how to build a resilient, future-ready firm.
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Financial Benchmarking Survey 2025
- Article
- 31 Mar 2025
The results of the Law Society’s Leadership and Management Section (LMS) benchmarking survey have been released. For over twenty years, the survey has been providing detailed accounting and other financial data from law firms and, for the past fifteen years or so, it has been prepared by Hazlewoods: specialist accountants working with law firms in the legal sector.
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Legal sector insights – trends and developments you need to know
- Article
- 13 Mar 2025
In ICAEW’s recent webinar, Jason Mitchell of PKF UK and Andrew Baker of RSM UK discussed three topical issues currently impacting the legal sector: the SRA’s Consumer Protection Review, basis period reform and partial exemption considerations in relation to interest received on client balances.
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Residual balances – the fines and penalties keep coming!
- Article
- 13 Mar 2025
Cases over the past two or three years (Solicitors Disciplinary Tribunal and SRA’s Regulatory Outcomes) make it is abundantly clear that not attending to these balances is leading to some hefty fines and penalties. The issue is not going away.
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Bank service outages: the impact on law firms and the case for multi-banking
- Article
- 10 Mar 2025
Practical steps law firms can take to protect their operations.
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Axiom Ince Limited and what happens next?
- Article
- 05 Dec 2024
It seems highly unlikely now that everyone working in this space isn’t very aware of the Legal Services Board’s report into the events leading up to the SRA’s intervention into Axiom Ince Ltd, published on 21 October 2024. There have of course been numerous commentaries in the legal press, highlighted in this article are the key points for both the law firm and the reporting accountant specifically in relation to the current SRA Accounts Rules.
The secret to boosting morale and maximising profits
- Article
- 04 Dec 2024
Last month, I was invited by the ICAEW to deliver a webinar on how to attract and retain talent in three steps. This topic continues to be a major problem for law firms and accountancy practices across the UK. According to Gallup, disengaged employees is costing the UK economy £256 billion a year, which means that three out of five of your employees is a financial drain on your business.
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Insights from ICAEW Solicitors Conference 2024
- Article
- 02 Dec 2024
This year’s annual conference was as informative as ever and I wanted to share a very brief summary of some of the key takeaways.
Displaying 1-10 of 47 results