Solicitors Accounts Rules
The Solicitors' Accounts Rules present partners and their fee earners and accounts staff with very particular challenges. The consequences of non-compliance can be very serious indeed; a visit to the Solicitors Disciplinary Tribunal, fines, penalties, to name a few.
This course will ensure partners, fee earners and accounts staff are fully conversant with all aspects of the Solicitors' Accounts Rules that impact on their day to day work, providing a practical understanding of the application of the rules and the latest guidance from the Solicitors Regulation Authority.
Key Learning Points
• Main principles definitions and time frames within the SARs
• What types of bank account can be used
• An examination of the detailed rules dealing with receipts and withdrawals
• How to ensure compliance with the rules regarding the solicitors' own costs and interpretation/guidance on 14 day rule
• The 'new' rules for dealing with residual balances
• Interest provisions of the rules
• Responsibility for compliance
• Common breaches and problem areas
• Partners and staff will be fully up to date with all changes to the rules
• Improved compliance within the firm
• A better understanding of the practical implications of the rules for the practice
The Solicitors' Account Rules course is offered on a half day basis.