Our legal sector clients benefit from a people focused and partner-led service, enhanced by local knowledge and access to the wider resources of the UHY Hacker Young Group and UHY International.
We work with many firms of solicitors around the UK and have specialists, including numerous members of the ICAEW Solicitors Group, throughout our UK network, and pool national technical knowledge and experience through regular meetings of the UHY Legal Sector Group.
Compliance and Assurance
The Solicitors Regulation Authority (SRA) rightly put the protection of client money at the heart of their accounts rules.
Our Birmingham team have the technical understanding of the SRA Accounts Rules 2011, including all updates up to and including December 18, combined with Legal Sector experience. We provide the following services to support you with your compliance needs:
- Accountant’s Reports;
- Assistance with systems, controls and procedures;
- Compliance officer for financial administration (COFA) support and self-regulation;
- Statutory Audit.
Firms of solicitors come in all shapes and sizes and this is reflected in their year-end accounting requirements. We make it our business to understand your business, and are committed to providing a service that is tailored to your particular needs. Our approach is underpinned by proactive communication to avoid surprises, and ensuring that timescales are set and adhered to.
Where we are appointed as your statutory auditor to a firm, as opposed to the reporting accountant for SRA purposes, we are obliged to remain independent from the preparation of the financial statements. However, we are able to provide objective, impartial assistance with the preparation of annual accounts by creating independent teams to work on the firm’s behalf.
Aside from the preparation of year end accounts, we can assist with improving your financial management reporting. With solicitors now operating in such a challenging and fast-changing environment, timely management accounts information has never been more important, and can significantly improve your capacity to manage cash-flow and profitability.
We have experience of the various specialist accounting software systems used by solicitors to comply with the Accounts Rules, and can help ensure that these are set-up and operated properly. We can also provide advice and support with the introduction of new accounting software.
The Next Step
For further information on our compliance services, or to arrange a meeting to discuss your specific requirements, please contact one of our legal sector specialists from our Birmingham team.