The SRA Accounts Rules were last updated in November 2019 and are now more condensed with the focus shifting from prescriptive rules to principles-based regulation.
The ICAEW’s Audit and Assurance Faculty have now released TECH 01/21 AAF which provides the latest practical guidance for the role of the reporting accountant when reporting to the SRA under the SRA Accounts Rules.
The Technical Release provides guidance on how to carry the engagements as well as providing know-how to help reporting accountants to scope and perform their work. Of particular help are the appendices which provide numerous examples of scenarios and possible resolutions that reporting accountants may face during these assignments.
How can we help?
At Hawsons we have a dedicated team of accountants specialising exclusively in the needs of solicitors and legal professionals. at our office in Sheffield, Doncaster, and Northampton. Our understanding of the unique issues that many in the sector are facing, combined with our technical experience, allows our solicitor specialists to provide you with proactive, commercial and informed accountancy and tax advice.
More from our legal sector experts
You can find all of our latest legal sector news and newsletters here.
If you are looking for advice in a particular area, please get in touch with your usual Hawsons contact.
Alternatively, we offer all new clients a free initial meeting to have a discussion about their own personal circumstances – find out more or book your free initial meeting here. We have offices in Sheffield, Doncaster and Northampton.
Free initial consultation
0114 266 7141