Solicitors

Shaw Gibbs are specialists in assisting firms of solicitors to comply with the Solicitors’ Accounts Rules (SAR).

What is SAR?

The Solicitors’ Accounts Rules 1998, made by the Council of the Law Society and overseen by the Solicitors Regulation Authority, impose strict rules regarding client money and the operation of client accounts, interest, and accounting systems and records. An accountants report on compliance with SAR is required annually and Shaw Gibbs are qualified to undertake this work.

What is the process?

Although the accountant’s report required by the SAR is not an audit, the approach is very similar. Auditing Standards are not applied directly but their principles are followed to ensure the work is undertaken to the required professional standard.

Why choose Shaw Gibbs?

Our expertise and experience in working within the SAR rules gives clients the assurance and comfort of knowing they comply with the rules and this is enhanced with the related assistance in monitoring and improving standards of accounting and record keeping.

How we can help

In addition to providing audit, accounts and taxation compliance services for limited companies, partnerships and limited liability partnerships, we are also able to offer advice and guidance relating to issues specific to SRA monitored firms as well as general business advice, such as:

• Business structures and incorporation issues
• Compliance with Solicitors' Accounts Rules
• Accounting systems and procedures
• VAT advice
• Corporate and partners/ members tax planning
• Goodwill and succession issues

Who we work with

• Limited companies
• Sole traders & partnerships
• Limited liability partnerships

For more information please contact Stephen Wetherall on 01865 292200 or stephen.wetherall@shawgibbs.com. For updates on the latest news and details of our seminars, please click here.