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  1. In-house Courses
  2. Solicitors Accounts Rules
Courses

Solicitors Accounts Rules

Overview

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

Benefits

• 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.