Solicitors are responsible for protecting client money. Solicitors often hold significant cash for clients, for example, house deposits or funds to purchase a business. It is crucial that this money is protected from misuse to protect clients, and for confidence in the legal profession.
Reporting Accountants play an important role in reviewing how law firms do this through their reporting work under the Solicitors Regulation Authority (SRA) Accounts Rules. The SRA provides guidance on how reporting accountants should approach their work. It relies on reporting accountants using their professional judgement when planning, scoping and carrying out their work.
Xaviers is fully-qualified and accredited to provide SRA audits. Delivered by experienced auditor and ICAEW and ACCA member Mijos Xavier, Xaviers Accountants specialises in the delivery of SRA Audits for solicitors and legal professionals throughout Wigan, Preston, Greater Manchester and across the UK. SRA audits also allow an auditor to identify areas of inconsistency and areas where a business may wish to improve its processes.