SAR audit

We provide a range of specialist (Solicitors’ accounts rules) SAR audit services to Solicitors.

Having an SAR audit ensures you are compliant with the rules of the SRA (Solicitors Regulation Authority) and the new reforms to the rules brought about in 2014 & 2015.

What we do

Our wide reaching experience in the Solicitors sector means we can support you with all aspects of your reporting process. This would include identifying weakness and making control recommendations surrounding, in particular, record keeping and management of client money.

Roffe Swayne will undertake the SAR audit and prepare your accountants report in line with the SRA rules, advise you on updates to the reporting process in compliance with the reforms in 2014, 2015 and the proposed 2017 reforms. You will also be provided with value added help and advice with the preparation of your accounts, personal tax matters, management accounts and corporation tax, where needed.

When will you need an SAR audit?

Do you have client monies passing through your client accounts?

Then you will be subject to the SRA accounts rules.

However only those solicitors with an average client balance of more than £10,000 a year and a minimum account balance of £250,000 need obtain an accountant’s report within 6 months of the year-end. Only qualified reports are submitted to the SRA.

What does an SAR audit cover?

The primary aims of the SRA rules are to:

  • Protect client money and assets by regulating their custody and protection;
  • Comply with regulatory obligations and regulators;
  • Run the business effectively and in accordance with proper governance and sound financial and risk management principles.

Roffe Swayne will ensure that these principles are adhered to and will report on whether client money is safe, client accounts are used for appropriate purposes only and that the appropriate systems and procedures are in place to safeguard client money.

Whether you operate in the areas of probate; trusts; conveyancing; personal injury claims or power of attorney, Roffe Swayne can help manage your risks and ensure your compliance under SRA.

Need our help?

If you would like to discuss your business needs further please contact either Jonathan Vickery→ or Tony Kelly→ on 01483 416232.