An Introduction to SRA Accounts Rules
The report required by the SRA under the SRA Accounts Rules is one of the more onerous tasks of the independent accountancy practice. Continuing shortages of clients' money has led the SRA to look carefully at the role of the accountant.
It is very difficult to check that a Solicitor is complying with those rules unless you understand what the current rules are. On completion of this course participants will not only know what the rules consist of and what they say but will also understand what they require a solicitor to do in practice
This course is designed for people with little or no existing knowledge of the SRA Accounts Rules who will be carrying out SRA assignments under the 2011 Rules in the near future and is therefore based on the 2011 Accounts Rules.
It will also be useful for inexperienced staff who will be carrying out SRA assignments under the new rules (expected to come into force in 2019) as whilst the new rules are principles based rather than prescriptive, it will be difficult to apply those principles without an understanding of the underlying concepts.
It is not designed for those seeking an update on recent changes who would derive more benefit from attending the SRA Accounts Rules Update.
The content will include:
- Outline of client money rules
- Operation of client account
- Accounting records and systems
- Accountant's report requirements
- Case studies illustrating workings of rules including examples of:
- Client monies, cash book and ledger accounts
- Disbursements - professional and other
- Transfers of costs
- Problem areas
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