Expert Support with SRA Accounts Rules Compliance
The Solicitors Regulation Authority (SRA) requires firms that handle client money to comply with the SRA Accounts Rules. These rules, introduced in November 2019, ensure that client funds are properly safeguarded and that firms maintain robust accounting systems and controls. At Zenith Advisory, we provide tailored support to help solicitors’ firms meet these obligations with accuracy and confidence.
What the SRA Accounts Rules Require
Client Money and Asset Protection
Solicitors must have systems and records in place to ensure all client money and assets are managed securely.
Accountant’s Reports
If a firm has held or received client money during an accounting period, it must obtain an accountant’s report from a registered auditor within six months of the period end.
Submission to the SRA
A qualified accountant’s report, showing any failure to comply with the rules, must be delivered to the SRA within six months, especially if client money is at risk.
Appropriate Systems and Controls
The accounting systems used by solicitors must be proportionate to the nature of transactions and the amount of client money handled.
How Zenith Advisory Helps with SRA Accounts Rules
- Preparation and review of SRA reports for solicitors’ firms.
- In-year support and guidance on individual transactions.
- Bookkeeping system design and training to simplify compliance.
- Practical advice to reduce risk and strengthen internal controls.
Stay Compliant with Confidence
At Zenith Advisory, we ensure that your firm complies with the SRA accounts rules and avoids the risk of penalties or reputational damage. Our independent audits and advisory services give you complete peace of mind that your client money is secure and your reporting obligations are met.
