Solicitors & SAR Audits

Plummer Parsons are experts in dealing 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 1998. 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 changing (the 1998 rules were last revised with effect from 31 March 2009), law firms do need to be assured that their Reporting Accountants are proactive in their advice. This is something we pride ourselves on.

Our wealth of experience in this area means that we fully understand not only the SRA’s expectations of Solicitors and their chosen Reporting Accountants, 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 are an eligible reporting accountant firm and 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 spent at your offices, but our friendly team will endeavour to ensure this is as valuable to you as possible.

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
• Taxation advice for the principals and the business.
• Use of our in-house Payroll Bureau.

For more information and a free consultation please contact Steve Griffen, Partner at the Eastbourne office on 01323 431200 or steve.griffen@plummer-parsons.co.uk or Kieran McCurdy, Partner at our Brighton office on 01273 725123 or kieran.mccurdy@plummer-parsons.co.uk.

[Steve Griffen ]                         [Kieran McCurdy]