Subjects:

Professional Conduct and Ethics

Contents:

1.Solicitors’

Accounts Rules 1998: an overview

2. Solicitors’

Accounts Rules 1998

3. Client account and client money

4. Client money: use of client account

5. Client money withheld from client account

6. Operation of client’

s own account: rule 11

7. Controlled trust money

8. Office money

9. Costs and VAT

10.Interest

11. Accounting systems and records

12. Accountants’

reports

13. Practical application

14. Money laundering

Appendices.

Although the Solicitors’ Accounts Rules 1998 have been mandatory for all practices since May 2000, it is still common for breaches of the Rules to result in qualifications on accountants’ reports. This clear and handy guide explains the requirements of the Rules, providing practical guidance on how to prevent some of the most common pitfalls.

The text outlines the basic requirements of the Solicitors’ Accounts Rules, ensuring a thorough understanding of what is required of solicitors’ practices, before moving on address the systems and procedures that can be put in place that practices are compliant. Key points are illustrated throughout using practical examples.