SRA Accounts Rules 2019 – New Developments [2024]

PLEASE NOTE: This SRA Webinar will be viewable from 20th March 2024.

The ‘new’ rules are a lot more bedded-in now, as well as being simpler and more flexible. But they are still equally significant to anyone in the law firm, as recent examples have shown, and the duties on all of us, but especially those with responsibility for finance or accounts, remain strict indeed. We will discuss

• The key rules including:
• SRA Resources and checklists
• SRA enforcement and penalties
• VAT & Brabners – is it still an issue?
• Rule 3.3: Banking facilities
• Rule 5: Residual client balances
• Rule 8: Reconciliations
• Rules 12-13: Accounting systems and records
• Recording and immediate reporting of breaches to the COFA & SRA
• Other key duties on the COFA
• Relationship with the Reporting Accountant – are they becoming more exacting in their investigations?

Key takeaways from this webinar:

• SRA thinking: integrity is all
• Banking facilities – thoughts to ponder & things to avoid
• Key questions to answer
  • Can we bill before we do the work?
  • What about unattributable sums sent to client account?
  • How should we deal with residual balances on Client ledgers?
  • Have our time-frames been shortened?
• Reconciliations – what, when, who and how?
• Hardening attitude of the investigating accountants
• Checklists to reflect upon

• Proposed new amendments