The following Practice Compliance precedent provides comprehensive and up to date legal information covering:
This accounts manual sets out our [accounting OR finance] systems and controls for fee earners and other non-[accounts OR finance] staff. There is a separate, more detailed accounts manual for use by the [Accounts OR Finance OR team.
The [Head of Finance OR COFA] is responsible for this manual.
We must safeguard money and assets entrusted to the firm by clients and others.
We must at all times comply with the SRA Accounts Rules (the Accounts Rules). Except where the Accounts Rules provide otherwise, we must:
keep client money separate from the firm’s money;
keep client money safely in a client bank account;
withdraw client money from a client account only as permitted by the Accounts Rules;
not provide banking facilities through a client account; and
pay a fair sum of interest on any client money the firm holds.
The [Accounts OR Finance] department is located at [insert location, eg office if you have more than one office or location within your office].
The [Accounts OR Finance] department is led by [insert name and/or title][, who is also the firm’s Compliance Officer for Finance and Administration (COFA)].
[Insert any other information regarding the structure of your accounts or finance department, eg if you have different teams for different functions].
We have a central accounting[ and
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
This Practice Note examines why parties involved in a construction project may enter into an escrow agreement (or escrow deed) to set up an escrow account. It looks at the benefits of paying funds into escrow, how an escrow account operates and the provisions typically found in an escrow
Statutory declaration of solvencyA company enters voluntary liquidation when the members of the company vote to do so by a special resolution. For more information, see Practice Note: What is a members' voluntary liquidation (MVL) and where/when is it typically used?Before the members can vote on a
The principles of the notarial act are that it is:•an act of the notary and not of the parties named in the document•a record of a fact, event or transaction•in the form of a document, notwithstanding the form of the underlying document, fact, event or transactionThe purpose of the notarial act is
This Practice Note considers the legal concept of mistake in contract law. It examines common mistake, mutual mistake, unilateral mistake, mistake as to identity and mistake as to the document signed (non est factum). It also considers the impact of each of these types of mistake on the contract and
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.