SRA Accounts Rules for Finance Staff & COFA's

Event Details

Course Code: S3878
Speaker: Joanne Morris
Specialisations: Management, Support Staff,
Venue: Liverpool Law Society, Helix, Edmund Street, Liverpool, L3 9NY
Date: Tuesday, 31 October, 2017
Time: 09:30 - 12:45

Members Price: £105
Non Members Price: £150
------Training Season Ticket: Free

Note: 20% Vat added at checkout

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Event Description

Calling all COFAs, legal cashiers and people who are interested in a career in the accounts department of a law firm! This half day course is for you. 
‘Most solicitors and law firms protect the money their clients entrust to them. The consequences of failing to meet this obligation can be severe’ – SRA Risk Outlook 2017/18
The SRA Accounts Rules – mention these words and everyone will start to shudder at the thought but this course will help you overcome the minefield of these rules.  The cost of getting it wrong in relation to the SRA Accounts Rules can be devastating including fines from the SRA and the striking off of principles by the Solicitors Disciplinary Tribunal so it is essential that everyone dealing with them is trained to a high standard.  
This will take you or your staff back to basics by covering:
þ Setting the scene – a history of the accounts rules and an update of the risks in the SRA Risk Outlook 2017/18 relating to the finance department
þ What makes accounting in law firms so different
þ The role of the COFA and the recording and reporting of breaches
þ Double entry book keeping principles
þ A refresher of the key rules including:
o The principles
o Rules 1- 12 General Rules including:
Overarching objective and underlying principles
Persons governed by the rules
Principals’ responsibility for compliance
Duty to remedy breaches
Categories of money
o Rules 13 – 21 Client money and the operation of the client account including:
Client accounts
The use of a client account
Client money withheld from the client account
Receipt and transfer of costs
Receipt of mixed payments
Withdrawals from the client account
o Rules 22 -25 interest rules
o Rules 26 – 30 accounting systems and records
o Rules 31 – 52 monitoring and investigations by the SRA and the Accountants Report
o The future – SRA and the proposed new accounts rules

Joanna Morris has over thirty years’ experience of working in solicitors practices from being a legal cashier to a practice manager.  Joanna is a consultant having previously worked in a top 40 law firm as a Risk and Regulatory Compliance Training Manager.  She has also worked as the Finance Compliance Manager for the first Alternative Business Structure (ABS) in Wales.  She is a Diploma member of the Institute for Legal Finance and Management (ILFM).  Joanna is a qualified NVQ assessor and holds a Certificate in Education for Teaching in the Lifelong Learning Sector. Jo was highly commended in June 2011 by the Legal Education and Training Group (LETG) in the category Best Programme for Lawyers for Solicitors Accounts Rules training for Hill Dickinson LLP.  She was also shortlisted in the category of Compliance Trainer of the Year for the Women in Compliance Awards 2014.


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