This latest new edition of the Solicitors’ Accounts Manual will ensure you are fully up-to-date with the latest changes to the Accounts Rules since June 2015, versions 15-18 of the SRA Handbook.
It includes the following significant changes:-
the exemption of some firms from the requirement to obtain an accountant’s report
the removal of rigid restrictions on the format of the report to allow the accountant to exercise their professional judgement and concentrate on risks to client money
the simplification of the overseas accounting requirements.
In addition to these main changes, new additions to the Annexes include:-
the SRA Overseas Accounts Rules 2013
New SRA warning notice (money missing from a client account)
New SRA form AR1: accountant’s reporting form
New guidance on completing the annual accountant’s report, including the transitional arrangements
New Law Society practice notes on residual client balances (January 2016) and protection for client accounts (January 2016).
This is an official source of reference from the Solicitors Regulation Authority, which is relevant to every solicitors’ practice.
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