In this video, Martin Wardle sits down with Joe Brown from Robson Laidler’s accounts and legal team to discuss some of the key responsibilities that partners and directors of law firms need to understand when it comes to audit compliance and managing client money.
Some of the key topics covered include:
• Managing client money and the risks of mismanaging residual client balances.
• Common audit breaches and how they can lead to penalties.
• The importance of external accountant reports and how they can add value beyond compliance.
• Why strong internal systems and processes are crucial for avoiding audit failures.
• The risks of providing banking facilities for clients and the potential money laundering concerns.
• The need for proper interest policies with client funds.
If you're a partner or director in a law firm, this video covers some of the key areas you need to know about staying compliant and managing your firm's financial responsibilities effectively.
If you found this video useful, check out our other video on Solicitors Accounts Rules here: • Solicitors Accounts Ru...
If you're a partner or director of a law firm and want to ensure your firm is compliant with audit and client money regulations, or if you need guidance on managing your internal processes, don’t hesitate to get in touch with Robson Laidler's specialist legal team. Our team is here to help you navigate these responsibilities and avoid costly breaches.
Contact Details:
Phone: 0191 281 8191
Email: wanttoknowmore@robson-laidler.co.uk
Web: www.robson-lai...
14 окт 2024
