As a legal practice, you may need to have a Solicitors Accounts Rules audit to ensure you are compliant with the rules of the Solicitors Regulation Authority (SRA) that aim to safeguard the assets of clients as managed by solicitors during the course of their transactions with clients.
If your practice has client monies passing through its client accounts and carries an average client balance of more than £10,000 a year, with a minimum account balance of £250,000, then you will need to obtain an accountant’s report within 6 months of the year-end.
Whether you operate in the area(s) of probate, trusts, conveyancing, personal injury claims or power of attorney, we will ensure you are adhering to the principles of proper governance and sound financial and risk management. In addition, we can advise on tax and structuring options, personal tax matters, management accounts and corporation tax if required.
Our forensic accounting team, led by Kate Hart can also assist litigation lawyers with matrimonial, commercial and insolvency matters. The team are often instructed by lawyers representing business and asset owners who may be divorcing or going their separate ways and one party requires an independent asset valuation or expert opinion. We provide clear and concise advice, calculations and expert witness reports. Working for both claimants, defendants and as a single joint expert, our expert witness reports quantify losses and provide a robust figure which will stand up to scrutiny.