SRA Accountants Report | SRA Report | Accountants for Solicitors
Parkinson UK are specialist accountants for solicitors. Under Solicitors Regulation Authority Accounts Rules 2011, all firms authorised by the SRA who deal with client money are required to have an SRA Accountants Report submitted on an annual basis by a firm of registered auditors.
SRA Accountants Report from £95 per month
We offer a fixed fee service for Solicitors - Click Here for full details
We are expert Solicitor and SRA Registered Firm accountants and deal with Solicitors throughout the UK. We offer a fast turnaround for SRA Accountants Reports and can usually complete the work to the required high standards within 5 days.
We offer two methods to carry out the SRA Accountants Report.
Standard Service - We attend your premises to carry out all the work; or
Courier Service - You courier your records to us. This is the most popular choice for many of our solicitor clients.
We offer a substantial discount if you opt for the courier based service and will provide you with a comprehensive list of all the records we need you to supply to us so that we can efficiently undertake the SRA Accountants Report work.
Under Solicitors Regulation Authority Accounts Rules 2011, all Solicitors and Multi Disciplinary Practices (MDPs) who deal with client money are required to have an accountants report submitted to the SRA on an annual basis by a firm of registered auditors. These new rules came into effect from 6 October 2011 and their scope is extended to include all entities authorised by the SRA to provide legal services.
The report to the SRA on the firm’s compliance is submitted by the reporting accountant along with a checklist to the solicitor stating the outcome of the SRA report. The SRA places great reliance on the report to gain assurance that solicitors are complying with the SAR and that client monies are being safeguarded.
The report is sent to the solicitor once a year, at the end of the accounting period, by the SRA. It is due within 6 months of the year end and covers a 12 month period in most cases. A solicitor’s accounts report must be prepared and signed by an accountant who is a member of one of the authorised professional accountancy organisations and who is also a registered auditor with one of those organisations.
Parkinson UK are members of the Association of Chartered Certified Accountants and are also Registered as Auditors. We have many years experience in both the preparation of accounts for solicitors and undertaking solicitor’s accounts rules work and reporting the findings to the SRA.
We can also help you with the following:
- High level practice structure planning and implementation
- Multi Disciplinary Practices (MDPs)
- Strategy, ownership and succession planning
- Alternative Business Structures (ABSs)
- Tax efficient remuneration planning
- Partnership v LLP v Limited Company - Key tax and commercial comparison
- High level SDLT and VAT planning
- How to incorporate tax efficiently
- Mergers and acquisitions
- Valuing practice goodwill
- Partnership changes
- Advice re SRA matters
- The Authorisation Rules requirements
- Legal Services Act
- Compliance roles - COLP & COFA