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Law Firm reporting: have we lost our way?

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The apparently poor quality of the reporting and especially the brevity, of the published information has been frustrating.

Latest update on filing a qualified Accountant's Report

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Following on from the article we published in September concerning the filing of qualified reports via mySRA, the SRA have confirmed that 30 September was the final deadline for filing via email under the old system.

An update on the withdrawal of residual client balances

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The SRA consider residual balances significant enough to include within the 13 Solicitors Accounts Rules 2019 which came into force late last year. This emphasises the importance that is placed on this area of compliance.

HMRC reviews of Job Retention Scheme claims

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The press speculation has increased the pressure on HMRC to urgently review JRS claims and there have been some important developments in relation to the planned enforcement activity that has been taking place over recent weeks.

LMS Financial Benchmarking Survey 2020

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The Law Society’s LMS Financial Benchmarking Survey 2020 has recently been published. The survey is the largest of its kind in England and Wales, with 214 firms taking part.

COFAs - Stay alert and take a stand against cybercrime

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The term "stay alert" is something we have all become accustomed to in recent months as we continue through the implications of the current pandemic.

Coronavirus and the impact on law firms

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During April, Saffery Champness and The Institute of Legal Finance and Management (ILFM) ran a survey looking at the impact on UK law firms of Coronavirus and their strategies around furloughing and wider staff issues.

Monitoring financial stability and risk

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Under the SRA Code of Conduct for Firms, there must be active monitoring of the financial stability and business viability of the firm. After the last few months, with the country in lockdown, never has this been more important.

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