There is always something new and challenging to come to terms with as a legal firm. You need to know that your accountant is there for you, to support you, and to find you the opportunities for growth that you need to continue your evolution.
We’re specialist accountants for solicitors, giving balanced advice and support that gives you a strong foothold for the future of your legal firm. We can find you the resolutions to challenges that you thought were unsolvable.
Worried about compliance? We’ll keep you in line with the Solicitors Regulation Authority (SRA) giving you an approach that will work for your business no matter your size or scale. We’ll give you advice that will allow you to control your general business practices, and stay on top of any developments as and when they happen in the future.
We’ve also got a wide network of professionals that we’ll put you in touch with, who will be able to assist you with any specific needs you may have. Throughout our years of operating, we’ve found that building our relationships with other businesses has given us a great foothold to be considered pioneers.
Our range of financial services are delivered with the same care and attention, no matter where you come from, or what you do. It’s about relationships – not numbers on a page.
At Glen C Rodger we put people and the spirit of adventure at the heart of everything we do. We can open your eyes to a world of possibilities, looking at your business in a new and exciting light.
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We offer a range of business planning services.
Compliance with the Solicitors’ Accounts Rules (SAR) is vital for any legal practice. Our accountants for solicitors assist by keeping financial records up to date and conducting regular audits. This prevents any breaches of compliance requirements.
Non-compliance with SAR can result in penalties, fines, or suspension. Therefore, we review transactions carefully to ensure they meet all the rules set by the Solicitors Regulation Authority (SRA).
We provide detailed financial reports and management accounts to help law firms be transparent and accountable. This builds trust between solicitors and their clients, reinforcing the firm’s reputation and professional standing.
Our accountants implement robust systems to manage and protect client money by maintaining separate client accounts, ensuring funds are never misused or misapplied. Client money held is managed under strict regulatory rules to comply fully with the SRA Accounts Rules.
Through detailed monitoring and reconciliation processes, we review client accounts regularly to prevent errors. This scrutiny helps us identify and address issues promptly, ensuring each client’s money is used solely for their specific matters. Managing client money involves maintaining accounts for individual clients or a general account for multiple clients, in accordance with best practice.
We also provide practical support and advice on client money management to comply with SRA rules. By doing so, we help legal firms build trust with their clients, essential for long-term reputation and professional standing within the legal services sector.
As accountants for solicitors and legal professionals, we bear a significant responsibility to meet the highest professional standards. We are thoroughly familiar with the SRA Accounts Rules, which ensure solicitors’ financial dealings, including management of client accounts and money, are transparent and compliant with the law.
Reporting accountants must be diligent in their work, producing qualified reports when necessary and highlighting any discrepancies or non-compliance issues. This maintains the integrity of the law firm and protects client money.
Solicitors and legal teams rely on us to produce timely and accurate financial reports. Each report must be comprehensive and demonstrate a deep understanding of the solicitor’s business and financial position. We identify potential risks and provide tax advice and planning recommendations to mitigate them.
Our team operates with professionalism, impartiality, confidentiality, and high ethical standards. Handling sensitive information requires care and discretion at all times.
We also comply with anti-money laundering regulations. Given the UK is a high-risk jurisdiction, we apply strict customer due diligence to protect solicitors’ clients and uphold the legal profession’s reputation.
Our expertise extends beyond standard accountancy services; we offer valuable insights through management information and strategic advice to support law firms in decision-making, allowing solicitors to focus on their legal work.
In summary, the expectations of solicitors’ accountants are extensive. They must be thorough, knowledgeable about legal financial rules, and uphold high ethical standards. Our aim is to support and strengthen the financial stability and compliance of legal firms, including sole practitioners, law firm partnerships, and limited liability partnerships, helping them thrive in a challenging profession.
Preparing an accountant’s report requires thoroughness and strict adherence to the SRA Accounts Rules. It is essential to ensure sufficient funds are held on behalf of clients before transferring any monies to the firm’s office account. These reports are key to transparency and regulatory compliance. Our team ensures each report includes a full review of financial records and accurately reflects the firm’s financial activity.
We follow the SRA rules so our reports meet statutory requirements, protecting our clients from penalties and preserving their financial reputation.
Accounting periods are crucial for ongoing compliance with regulatory bodies. We establish a structured timetable to monitor and report financial activity. Regular reviews and updates throughout the accounting period help maintain accurate records and anticipate compliance issues.
We plan and adjust in real time to meet deadlines without compromising quality. We advise clients to set up accounting systems that comply with the SRA Accounts Rules, ensuring each period proceeds smoothly. This allows solicitors and practice managers to focus on legal matters while we handle accounting details.
Risk management and fraud prevention are essential to protecting the financial integrity of law firms. By identifying fraud risks and navigating insolvency issues, we help solicitors manage risk and discharge their fiduciary duties effectively.
Fraud targeting the legal sector requires thorough examination. Solicitors are often targeted because they handle large sums of money and sensitive client information, including money belonging to clients or third parties.
We utilise various methods to detect fraud, including regular audits and forensic accounting, which are key to identifying discrepancies. This enables us to detect unauthorised transactions or unusual financial patterns promptly.
Robust internal controls are another critical element. These include segregation of duties and regular updates to access controls for sensitive information. By limiting access to authorised personnel only, we significantly reduce the risk of internal fraud.
We also work closely with solicitors and legal teams to educate them on spotting warning signs of fraud, such as sudden lifestyle changes in employees or frequent discrepancies in financial reports. Awareness and vigilance are vital for early fraud detection.
Our accountancy services for solicitors cover legal aid, family law, and mental health legal services. We help solicitors navigate complex financial regulations and comply with professional standards.
We ensure compliance with the Solicitors Regulation Authority (SRA) guidance on client money management, including joint accounts. We manage the financial aspects of legal aid funding, ensuring submissions are accurate and timely. This involves detailed documentation and reporting to comply with legal aid regulations.
For family law practitioners, we provide comprehensive financial analysis, including asset evaluation, trust fund management, and financial insight during divorce settlements. Our accountants support solicitors in assessing the financial implications of maintenance and child support.
Key services include: