SRA Accounts Rules update – October 2024

This webinar designed for both fee-earning and administrative staff, will explore the latest developments to the ‘new’ SRA Accounts Rules, five years on from their introduction.

Despite the streamlined version, many firms still adhere to the previous rigid system. But with potential changes on the horizon, including the possibility of banning solicitors from holding client money, it’s time to update your knowledge.

Topics include:

• SRA thinking behind the shorter Accounts Rules
• Less detail does not necessarily mean less onerous; integrity is all
• Banking facilities – thoughts to ponder and things to avoid
• Key questions to answer:
  • Can we bill before we do the work?
  • What about unattributable sums sent to client account?
  • How should we deal with residual balances on client ledgers?
  • Have our time-frames been shortened?
• Reconciliations – what, when, who and how?
• Hardening attitude of the investigating accountants
• Checklists to reflect upon
• Proposed new amendments
• Should TPMAs be made compulsory?