New Regulations - Solicitors Accounting Regulations (Jun 23)
Category: Financial Reporting | Duration: 1hr | Tag: VODIRE2338 | Type: Video | Speaker: Colm Owens, Lindsay Webber | Date: 22/06/2023 11:30
Course Details
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 key proposed changes to the regulations, to give an insight into the types of issues that the Law Society investigating accountants encounter and identify risk factors when reporting on solicitors accounts.
In this session, Colm Owens and Lindsay Webber cover:
- The Legislative Requirements – Solicitors Accounts Regulations 2023
- The Updates to the SARs effective from 1 July 2023;
- The Law Society Accountants Report & Reporting of Breaches of the SARs
- Planning a Solicitors Engagement & the Requirements of the Reporting Accountant;
CPD Course Speaker
OmniPro
Colm Owens
As a member of our Practice Support team, Colm’s focus is on helping practices achieve on-going best practice compliance, prepare for monitoring visits and assist with post-monitoring visits follow-ups.
Having spent the 6 years prior to joining OmniPro as a quality reviewer with Chartered Accountants Ireland Colm has a unique insight into how firms operate, the challenges facing firms and how firms are responding to current issues facing them and the profession.
Having spent the 6 years prior to joining OmniPro as a quality reviewer with Chartered Accountants Ireland Colm has a unique insight into how firms operate, the challenges facing firms and how firms are responding to current issues facing them and the profession.
OmniPro
Lindsay Webber
As a member of our Practice Support team, Lindsay’s focus is on helping practices achieve on-going best practice compliance, providing in-house training, technical assistance, and file reviews.
Lindsay is a member of the South African Institute of Chartered Accountants and Chartered Accountants Ireland. She trained with KPMG in Johannesburg and specialised in external audit of financial services companies. She then spent six years lecturing audit and financial reporting to under-grad and post-grad students at Rhodes University in South Africa before moving to Ireland and returning to practice in a small, and then a medium sized firm where she was an audit manager. Altogether, she has over six years external audit experience along with over six years academic experience specialising in Audit and Financial Accounting. She is passionate about combining her academic and practice backgrounds to provide technical information in a useful and practical way.
Outside of her accounting qualifications Lindsay holds a PGDiploma in Higher Education from Rhodes University and graduated with distinction from the MBA course at Trinity College Dublin. She is currently working towards a Diploma in Forensic Accounting through Chartered Accountants Ireland.
Lindsay is a member of the South African Institute of Chartered Accountants and Chartered Accountants Ireland. She trained with KPMG in Johannesburg and specialised in external audit of financial services companies. She then spent six years lecturing audit and financial reporting to under-grad and post-grad students at Rhodes University in South Africa before moving to Ireland and returning to practice in a small, and then a medium sized firm where she was an audit manager. Altogether, she has over six years external audit experience along with over six years academic experience specialising in Audit and Financial Accounting. She is passionate about combining her academic and practice backgrounds to provide technical information in a useful and practical way.
Outside of her accounting qualifications Lindsay holds a PGDiploma in Higher Education from Rhodes University and graduated with distinction from the MBA course at Trinity College Dublin. She is currently working towards a Diploma in Forensic Accounting through Chartered Accountants Ireland.