Solicitors’ Accounts Reconstruction (SRA Accounts Rules)
Common Pitfalls of Non-compliance with the SRA Account Rules
Non-compliance with the SRA Accounts Rules due to tardy or poor accounting practices is an all too common problem. In some cases, it may be necessary to trace back many months or even years of mistakes in order to satisfy your accountants and the Solicitors Regulation Authority.
As experienced legal cashiers, we have dealt with a number of firms in this position and have been able to resolve the problems, reconstruct the accounts and provide them with a clean set of accounts which comply with the SRA Accounts Rules.
How The Law Factory can help
Often the problems are closely linked with communication issues and we are proud of the relationship we have with our clients. Using an inappropriate accounts package can also cause issues with compliance. We have a wide knowledge of the various legal accounts software packages and are able to give advice of the most suitable package for each firm. We are also experienced in dealing with the Solicitors Regulation Authority.
Reconstruction of accounts cannot change the mistakes made but can offer solutions and suggest ways of taking the practice forward in the long term. This is essential due to the Outcomes-focused regulations (OFR) introduced on 6th October 2011 by the Solicitors Regulatory Authority (SRA).
