CPDStore Ireland

In the first part of this session, Rory O'Neill concentrates on the recent changes to the Solicitors Accounts Regulations which came into operation on 1st July 2023. The talk gives an insight into the Compensation Fund and the role of the reporting accountants.  It also highlights 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.

Rory O'Neill covers the following topics during this course: 

• The responsibility of the Law Society to protect both clients and the legal profession
• Examples of issues that give rise to claims on the Compensation Fund
• Solicitors Accounts Regulation 2023
• Focus on key changes

In Part 2 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