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Compliance , Regulation | Exam

Risk and Compliance Advanced (Legal Practice) Accreditation Exam (26/09/2022)

3hr 45minAdvanced

The Risk and Compliance Advanced (Legal Practice) Accreditation is quality standard for legal professionals managing risk and compliance in a legal practice or department. The Accreditation is an independent objective mark for those who are able to demonstrate the required knowledge, skills and competency in the field of legal risk management, compliance and AML. This is an advanced level examination, targeted at those who are have expertise: in Legal Practice Management.

The 3 hour and 45 minute examination will take place on 26 September 2022 at 13:00-16:45. Bookings close on 14 September 2022.

The next examination date will be released in due course.

Who this is for

Freelance solicitors, Practice managers, Small firms lawyers, Solicitors.

Required prior knowledge

Candidates will be tested on their awareness, knowledge and understanding of law, policy and procedure arising from the syllabus set out in the Candidate’s guidance.

It places emphasis on a holistic, ethics-based and strategic approach to legal practice risk management.

Learning outcomes

SRA competence: A2

The examinations are designed for practitioners with different levels of experience of Risk and Compliance practice. This document applies to the Advanced (Legal Practice) level.

Aims to support those that hold the below responsibilities:

  • Managing and discharging regulatory responsibilities.
  • Driving appropriate  culture and modelling ethical behaviours in the business.
  • Strategic decision making, management & leadership.
  • Conducting regular reviews and strategic analyses to identify improvements.
  • Proactively monitoring of risks.
  • Driving development and training and championing continuous improvement.
  • Driving progress in risk management.
What this will cover

Aims to ensure an ‘Understanding and Competence’ of the following topics:

  • Regulatory requirements
  • Risk awareness and using the SRA Risk Outlook
  • Record keeping and managing breaches
  • People management
  • Risk management as top-down culture
  • Addressing risk within the client journey
  • Communicating with clients
  • Complaints management
  • Closing files safely
  • Data protection
  • Fraud and bribery
  • Cybercrime
  • Solicitors accounts rules and interest on client accounts
  • Business risk management
  • SRA Transparency Rules
  • Supervision
  • Managing archiving and document retention
  • Operational Risk assessments
  • File reviews and file management
  • Managing and monitoring undertakings
  • Use of Practice manuals and establishing audit trails

Candidates are referred to the syllabus in the Candidates Guidance.

Candidates have 3 hours and 45 minutes to complete the examination, which consists of 100 marks separated into 4 parts. In order to pass the examination you must achieve a mark of at least 50%. If your time expires the examination will submit automatically.