CPDStore Ireland

In this first part of this session, Seamus McGrath discusses the recent changes to the Solicitors Accounts Regulations which came into operation on 1^st July 2023. The talk focuses particularly on the role of the reporting accountants, give an insight on the types of issues that the Law Society investigating accountants encounter in the course of their inspections of solicitor’s accounts, and identify risk factors when reporting on solicitors’ accounts.

In this 2^nd part of this session, Colm Owens discusses the following:

• With continued media attention on solicitors when things go wrong, the role of the Reporting Accountant continues to come under scrutiny from both the Law Society and the various Accountancy Bodies.
• And now finally, The Law Society has published new Solicitors Accounts Regulations which come into operation on 1 July 2023 replacing the current regulations issued in 2014.
• With that backdrop the purpose of this session is to deal with the provisions of the solicitor’s accounts regulations focussing particularly on the role of the reporting accountants & the impact the key changes to the regulations will have on the work required & the standard on file that are required. 

In this part of the session, Colm Owens covers the following topics;

• The Legislative Requirements – Solicitors Accounts Regulations 2023

• The Law Society Accountants Report & Reporting of Breaches of the SARs
• Planning a Solicitors Engagement & the Requirements of the Reporting Accountant