Our specialists are here to help provide Solicitors with a fully comprehensive service including SAR Audits and Solicitors Accounts Rules Accountants Reports.
Unlike typical businesses, Solicitors have additional requirements when preparing their financial statements. Because of the added complexity and regulatory requirements, we have a team of experts who deal with the unique needs of law firms, from both a tax and regulatory point of view.
The Solicitors Regulation Authority (SRA) seeks to monitor and enforce compliance with the Solicitors’ Accounts Rules 2019. We have a detailed knowledge and understanding of the rules and can offer guidance as to how they should be applied to each law firm. As the Solicitors Accounts Rules are regularly reviewed, it is important to ensure you are always provided with the most up-to-date advice.
Our wealth of experience in this area means that we fully understand not only the SRA’s expectations of Solicitors and the accountants they choose but can help you to review your systems and procedures to gain real commercial advantage from better compliance.
Our audit approach is designed to be highly effective and cause the minimum disruption to the working of your firm. As registered auditors we can prepare and submit the accountants report required by the Solicitors Regulation Authority. This report is due every 12 months and must be submitted within 6 months of the year end.
The work required to complete the Accountants Report will almost certainly involve time at your offices or with your staff, but our flexible approach means this can be achieved either remotely or in person depending on your preference and systems.
Services
Our comprehensive services include:
- Preparation of monthly or quarterly management accounts
- Preparation of statutory accounts
- Audit of statutory accounts
- Solicitors Accounts Rules Accountants Reports
- Advice on ways in which the systems and controls within your firm can be changed so that they become more efficient
- Advice on the most suitable legal structure for your firm e.g. Partnership, Limited Liability Partnership or Limited Company
- Taxation advice for the Directors and the Business
- Use of our in-house Payroll Bureau
- VAT compliance assistance
- VAT specialist reviews
Require more information?
If you would like more information or would like to speak to us direct then call us on 01628 665000. Or if you would prefer, ask us a question online.