Solicitors’ Accounts Rules Update – All day session October 2016
Date: Thursday 20 October 2016
Time: 9:30 registration & breakfast, 10:00 – 16:00 seminar *lunch will be provided
Venue: Shoosmiths, 2 Colomore Square, 38 Queensway, Birmingham, B4 6BJ
CPD: 5 Hours CPD Accredited by the SRA
Fees: Member Fee for Fee Earners: £150 + VAT, Member Fee Support Staff: £110 + VAT, Non-Member Fee for Fee Earners: £190 + VAT, Non-Member Fee Support Staff: £150 + VAT
Speaker: Linda Lambert
The SRA Rules are part of the Law of the Land so ignorance is no defence! In this changing climate of ever more self-regulation it is even more important to have both knowledge and understanding when applying them. This day workshop is designed to be a refresher or ground work in the Rules. It is designed for COFAs, fee earners and cashiering staff. The rules, which are updated at least annually, have the main premise of ‘keeping client’s monies safe’ but the details of what is expected to accomplish this and also the SRA’s approach to regulation is an ever changing picture. The Accountants Report has also been radically altered and is likely to have an effect on your next year end as this rule change occurred on 1st November 2015.
The lecture covers the following subjects:
- Principles of the Accounts Rules
- COFA/COLP
- Accountant’s Report (new rules)
- Client account
- Client monies and handling such
- (Includes withdrawals, returning surplus monies, and other rules e.g. Joint Accounts)
- Interest policy
- Bank reconciliations and how they work
- Operating a client’s own account
- Office monies and disbursements
- What is a bill and earmarking costs?
- Legal Aid Agency (Account Rules only)
- Systems and RecordsThe course is designed with practical examples and opportunities to both discuss and ask questions to encourage all delegates to leave with a thorough grounding in all aspects of the rules.Linda Lambert:
Linda lives and works in the West Midlands where she came to read Accountancy at Birmingham University. After obtaining her degree she then worked in the banking and financial sector and then as a trainee chartered accountant before joining the legal profession some 25+ years ago.
Linda has in her career worked as a sole Legal Cashier for a small city practice, a Finance Manager for a 14 partner provincial firm and as a Practice Manager before working freelance. She has experience of accounts systems from hand written to computerised and has been responsible for introducing new systems in the practices she has worked in, in particular dealing with management information and credit control.
Linda has trained as a lecturer for further education and is currently the Institute of Legal Finance and Management (ILFM’s) lecturer in Solicitors’ Accounts Rules (since September 2006), was the tutor for the ILFM’s Associate Accounts Course for 8 years, as well as working as a freelance Legal Cashier. Linda has also acted as a consultant for a two partner firm of solicitors in Worcestershire helping ensure an SRA audit went smoothly, covered maternity leave in a Risk and Compliance Department, and currently looks after several sole practitioners and a 4 partner firm in both the Midlands and further away in Yorkshire. She has also done work for firms facing SRA visits including possible intervention.
In the past she has contributed to the ILFM’s magazine with articles mainly about the SRA Accounts rules and also does lecturing In-House to several firms in London, Birmingham and other areas of Southern England.