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Compliance , Regulation | Exam

Risk and Compliance (Foundation) Accreditation Exam (19/09/2022)

90 minFoundation

The Risk and Compliance (Foundation) 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 the entry level Accreditation. This level requires demonstration of the knowledge, skills and expertise in:

  • Undertaking key risk and compliance tasks.
  • Carrying out front line compliance tasks and routines.

The 90-minute examination will take place on 19 September 2022 at 13:00 – 14:30. Bookings will close on 7 September 2022.

Who this is for

Freelance solicitors, Junior lawyers, Paralegals, Practice managers, Small firms lawyers, Solicitors, Students / Trainees.

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.

This level addresses the basic risk and compliance skills and knowledge required within a business/practice role in a legal practice.

Learning outcomes

SRA competence: A2

Aims to support those that hold the below responsibilities:

  • Compliance housekeeping tasks.
  • Support COLP/COFA/MLRO/MLCO/SMT responsibilities.
  • First line of support.
What this will cover

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

1. Risk Management, Key roles & responsibilities,
2. Conflict & Client Confidentiality,
3. Data Protection,
4. Client Identification & File risk assessment,
5. Client Service,
6. Operational file risk management,
7. Fraud management,
8. Cybercrime & Business continuity planning,
9. Supervision & File reviews,
10. Solicitor accounts rules & financial crime,
11. Archiving & Record keeping,
12. Professional competence.

Candidates are referred to the syllabus in the Candidates Guidance.