SRA Accounts Rules for Managers and the COFA in SRA-Authorised Law Firms

This course does not assume any prior knowledge. 

In this course, we’ll be looking at the following areas: 

• SRA Principles and Codes of Conduct 
• The SRA’s role as a risk-based regulator and what this means when considering client money   
• An overview, purpose and application of the SRA Accounts Rules 2019 
• Specific provisions of Accounts Rules applicable only to senior members of the firm such as the manager and the COFA 
• Common mistakes and who is responsible for compliance with the Accounts Rules. 

After completing this course, you will be able to: 

• Understand the purpose of the Accounts Rules, the meaning of client money and the correct use of a client account  
• Identify duties owed to the client when handling client money including the payment of interest  
• Be aware of the significance of the banking prohibition  
• Gain insights into dealing with costs and the duty to account to the client at the end of your instructions  
• Recognise the issues with residual and historic balances  
• Improve your knowledge of the common misunderstandings when dealing with accounts rules 
• Understand the role of the fee earner in handling client money  
• Be aware of the role of the firm’s Compliance Officer for Finance and Administration and other senior managers in the firm. 
• Understand your role in supporting the firm with its duties to keep client money safe 

Course format 

This interactive online training consists of the following elements. 

An interactive course presentation, with a variety of knowledge checks spaced throughout, to test understanding of the material as the learner progresses. 

Online assessment 

Our modules conform to Web Content Accessibility Guidelines 2.1. However, some members may require an alternative version for accessibility purposes. This is available upon request via our contact us form. 

Assessment 

In order to pass the assessment you must achieve a mark of 70%. 

The knowledge checks included in the course presentation are intended to aid your understanding of the content and offer the opportunity to apply your knowledge. They do not form part of the assessment. 

Length 

The course will take approximately 45 minutes to complete, excluding assessment.