Requirements to be a Solicitor accountant
Most of the accountants will act as reporting accountant for solicitor clients and are required to operate client accounts. They need to prepare the checklist and accountants report which is to be submitted to the Solicitors Regulation Authority (SRA) within six months of the client’s year end. The new Solicitors Accounts Rules (SARs) have become more “outcomes-focused”.
It is required by the accountants to get grips with the new regime in order to ensure that new rules have been followed properly and to spot breaches and prepare the accountants report and checklist with minimum error.