SRA Accounts Rules

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As a reporting accountant working for a solicitor, you need to understand and comply with the SRA Accounts Rules. This course aims to simplify these rules and give you the confidence to accept an engagement and fulfil your obligations.

£100 +VAT

4 CPD hours

120 days’ access

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Use ACPD101 for 10% off any purchase.

SRA Accounts Rules

£100 +VAT

4 CPD hours 120 days’ access
Use ACPD101 for 10% off any purchase.

SRA Accounts Rules

This course is not currently available. To find out more, please get in touch.

This course will enable you to

  • Understand the SRA Accounts Rules and how to apply them.
  • Plan an assignment and spot red flags and potential pitfalls.
  • Make sure that “client money” is being treated appropriately.
  • Issue a qualified or unqualified report.

About the course

Becoming a reporting accountant for a solicitor means that you are required to report on compliance with the SRA Accounts Rules and these rules can be daunting.

This course aims to simplify the rules and give you the confidence to take on this role. You will understand how to ensure that independence is maintained and assess when a solicitor client is required to obtain an SRA accountant’s report. You will then explore how to plan the assignment, and what red flags to watch out. Also, you will look at the processes used to test compliance with the rules and finally, how to complete the assignment.

Contents

Regulation and acceptance

Legislative requirements
Following the rules
Accepting engagement as reporting accountant
Structure of the SRA Accounts Rules
Whose money is it anyway?
Client money

Independence requirements and planning

Independence
Maintaining independence
Planning the assignment
Pitfalls
Red flags

Testing the records

Test time
Testing the reconciliations
The file review
Operation of banking facilities
Other areas which may be tested
Key areas of compliance

Report completion

Completing the assignment
To qualify or not to qualify?
Breaches
Anti-money laundering considerations
The last hurdle

How it works

Author

Steve Collings

Steve Collings

Steve is Director at Leavitt Walmsley Associates, a firm of Certified Chartered Accountants. He is an internationally recognised speaker, writer and commentator on all matters to do with financial reporting and auditing. Steve is a prolific author, having written over 25 books and currently represents the North West of England on ACCA”s Practice Network Panel.