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SRA Board revises proposal to remove Annual Accountants’ Reports
The Board at the SRA has heavily revised proposals to remove the requirement to deliver an annual Accountants’ Report. Read the story here: http://www.lawgazette.co.uk/law/accounts-reporting-abolition-reined-in-after-rethink/5043212.article
In summary, for most firms, the requirement will still be to commission the report but only to submit the report if there are qualifications identified.”
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The Law Society has issued a practice note about the risks to solicitors posed by this new legislation, which came into force on 30 September.
The SRA has urged all practices to check HM Treasury’s consolidated list of asset freeze targets, which lists designated persons subject to financial sanction under EU or UK legislation.
The practising certificate renewal period opened on Monday 2 October.
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