The following Practice Compliance precedent provides comprehensive and up to date legal information covering:
This document sets out our [accounting OR finance] systems and controls for fee earners and support staff.
We have an overriding duty to protect client money and assets.
To ensure compliance with this duty and with the SRA Accounts Rules 2011 (the Rules), all fee earners and support staff must comply with the systems and procedures set out in this document.
The [Accounts OR Finance] department is located at [insert location, eg office if you have more than one office or location within your office] and 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 departments, eg if you have different teams for different functions].
We have a central accounting [and time recording] system called [insert name of your system]. [insert name or title] is responsible for the day-to-day operation of the accounts system.
Access to the accounts system is as follows: [state who has access, how to get access and whether access levels vary].
Anyone with access to the accounts system must keep their password confidential and change their password regularly to maintain security. You must not ask members of the [Accounts OR Finance] department to divulge their accounts [or time recording] system password or use
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