Solicitors’ Accounts Rules - Residual Balance Headaches & How to Avoid Them

Introduction

Despite it being over a decade since the rules dealing with residual balances were first introduced, they continue to pose a major headache for firms.

A common source of breaches for the reporting accountants, it is unsurprising that residual balances remain a hot topic for the SRA.

During this webinar, expert speaker Ian Johnson will provide an insight into what recent SRA guidance means in practice.

He will also share his experiences from his years as a reporting accountant.

What You Will Learn

This webinar will cover the following:

• Applying to donate small balances to charity - what the SRA means by ‘prescribed circumstances’
• How to deal with larger balances and making an application to the SRA
• What the SRA are likely to view as ‘reasonable steps’ to trace the owner of client money
• How to stay on the right side of the reporting accountant and avoid a qualified accountant’s report

This webinar was recorded on 16th March 2022

Quick Quiz - Test Your Knowledge: Solicitors Accounts Rules