Are you currently below the SRA's Accounts Rules audit threshold? The threshold for holding client money is an average of £10,000 or a single instance of £250,000. If you fall below this threshold, you may not be required to undergo an annual audit of your client accounting systems and controls.

If you have not had an audit and do not require one, or if you are approaching the threshold and will soon require an audit, it may be prudent to conduct a spot check. This helps with:

1. Checking your systems and controls are in compliance with the SRA Accounts Rules AND
2. Having an independent experienced pair of eyes looking your client controls and highlighting issues, including potential residual balances and prohibited banking issues – calling on our experience to all levels in practice in a solicitors firm and also our experience of over 400 law firms

£800 + VAT for a one-off spot check

(We also carry this review out a review every Year for some firms. Arrangements, what is to be covered will be bespoked around your needs. Pricing to be negotiated accordingly.)

What we will do

• Review of the most recent client account and office account bank reconciliation
• Review of your most recent client matter listings
• Review of 2 matters against your client ledger system
• Provide you a report on our findings.

All work is carried out remotely and in the strictest of confidence. You will need to give us login details and let us know when we may use them.

(Please note - this does not include AML, Sanctions & Data Protection/GDPR compliance. We can assist with these. Contact us for details.)

Please feel free to contact us for more information or to discuss our other services – for example the webinar on How LEAP can help with your Compliance.

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