Objective: To provide a sound and comprehensive knowledge of the accounts rules in legal practice in order to meet compliance requirements.
The Legal Finance Compliance & Accounts Rules course can either be taken after Bookkeeping for Legal Financial Professionals or if you have obtained an exemption; so it could be the first or second course studied with the ILFM. The course is designed to help you build your knowledge of the accounts rules encountered every day in your role within practice. We always focus on best practice and professional ethics. We will give you confidence in using what you have learnt leading to confidence in progressing with your career. Covering legal regulation under the Solicitors Regulation Authority and CILEx Regulation, the course will refer to both the different regulatory bodies and their relevant accounts rules around holding client money. Studying and gaining a qualification will give you a huge sense of accomplishment and give you a greater sense of job fulfilment.
ILFM membership is a requirement for studying with us.
Contents of the course:
- Tutorial 1 Purpose and aims of the legal professionals accounts rules
- Tutorial 2 Client money and client account
- Tutorial 3 Firms own money - Office Account
- Tutorial 4 Withdrawals from client account
- Tutorial 5 Client money not held in client account
- Tutorial 6 Retaining funds not linked to a transaction
- Tutorial 7 Disbursement v. Recharges
- Tutorial 8 Interest
- Tutorial 9 Record Keeping
- Tutorial 10 Reporting Accountants report
- Tutorial 11 Rules not already covered
Each tutorial contains self test questions and an assignment to be submitted for marking
We also high recommend these ILFM Trainings, to help your in your course : SRA Accounts Rules
All Inclusive Coursework and Examination Fee: £560
You are given 18 months to complete the coursework and enter for the exam (each course can be completed sooner). Please check if you are entitled to any exemptions by holding other relevant qualifications.
- Full access to online course material (18 months)
- Dedicated UK based ILFM tutor, including one-to-one support and feedback
- Employer updates (if required)
- Individual study plan
- Full access to extra student resources online
- Dedicated ILFM tutor (one-to-one support)
- Sample examination paper/questions
- Exam preparation session (format may vary)
- Exam preparation material
- Employer updates (if required)
- One Examination Entry Fee included (students wishing to take the exam locally will be required to pay any additional costs incurred)
- You are expected to sit the exam either within the 18 months given or shortly thereafter.
