SRA Audits | ARK Accountants

Specialist SRA Audit Services for Legal Professionals

At Ark Accountants, we understand the complexities and the stringent requirements set forth by the Solicitors Regulation Authority (SRA).

Extensive Expertise and Personalised Approach

Leveraging our vast knowledge and experience, Ark Accountants is not just proficient in preparing the necessary documentation for both HMRC and SRA compliance; we excel in identifying and implementing enhancements to your systems and controls. Our goal is to not only ensure compliance but to elevate the efficiency of your operations for sustainable success.

Accredited
Excellence

Proudly a member firm of the Association of Chartered Certified Accountants and duly registered as auditors in the UK/Ireland, Ark Accountants brings a level of credibility and trust to your SRA audit process. Our expertise spans across the preparation of accounts, tax returns for solicitors, and a comprehensive understanding of the Solicitors' Accounts Rules work.

SRA Audit & Compliance

Tailored audits that not only comply with SRA mandates but also contribute to the betterment of your practice.

Financial Documentation & Reporting

Expert preparation of all required financial documents for both HMRC and SRA submissions.

System and Control Enhancements

Strategic recommendations to streamline and enhance your existing financial systems and controls for improved efficiency.

What is an SRA Audit?

An SRA Audit is an essential regulatory requirement for solicitors and law firms in England and Wales that handle client money. Mandated by the Solicitors Regulation Authority (SRA), these audits are designed to ensure that firms are complying with the SRA Accounts Rules. These rules set out the standards and practices that firms must follow to safeguard client funds.

Specialised SRA audit expertise.
Enhanced operational efficiency for legal practices.

The Purpose of SRA Audits

The primary goal of an SRA Audit is to protect the interests of clients by ensuring that their money is being managed appropriately by their legal representatives. This includes verifying that:

Client funds are kept separate from the firm’s money.

Client money is available on demand.

Accurate records and accounts are maintained.

Any interest earned on client money is correctly calculated and applied.

By adhering to these practices, law firms demonstrate their integrity and reliability, fostering trust between them, their clients, and the wider legal community.

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Imran Hussain

I moved my accountancy support to ARK earlier this year and have been extremely impressed by the team. The changes and guidance ARK put forward to my business have already shown improvements in productivity. I would not hesitate in choosing ARK when making a recommendation to anyone looking for a accountancy firm.

Muzaffar Ahmad

I have been a client of ARK Accountants and have consistently received excellent service. The team is knowledgeable, reliable, and always willing to go above and beyond to ensure that my accounting needs are met. I appreciate their attention to detail and the clear communication they provide throughout the process. I highly recommend ARK Accountants to anyone in need of accounting services.

Gurpreet Singh

I would like to thank Mr Kashif of this firm for his services. He is professional, fair, courteous and provides invaluable guidance and support. Thank you to Mr Kashif and to Ark Chartered Certified Accountants.

Alpha Global Outsourcing

Happy to share positive experience working with ARK Accountants and M Kashif in particular. Always found them helpful, professional and on time for promised timelines. Can recommend ARK without hesitation.

What makes Ark Accountants different from other auditing firms?

Our specialisation in the legal sector, coupled with our ACCA accreditation, sets us apart. We offer a blend of compliance assurance and operational efficiency improvements tailored to the needs of legal professionals.

How can Ark Accountants help improve our firm’s efficiency?

Beyond ensuring compliance, we focus on enhancing your financial systems and controls. By identifying inefficiencies and suggesting improvements, we aim to streamline your operations and reduce unnecessary expenditures.

What is involved in an SRA audit?

An SRA audit involves a thorough review of your firm’s compliance with the SRA Accounts Rules, focusing on the handling of client money, financial reporting, and related controls. Our approach is comprehensive, aiming not just to audit but to advise on best practices.

How often should we undergo an SRA audit?

The frequency can vary based on your firm’s specific circumstances and the SRA’s requirements. Generally, it’s advisable to conduct an audit annually to ensure ongoing compliance and operational efficiency.

Ready to Ensure Compliance and Enhance Efficiency?

At Ark Accountants, we are dedicated to supporting legal professionals with expert SRA audits and financial consultancy. Let us help you navigate the complexities of SRA compliance with ease and confidence. Contact us today to discuss how we can tailor our services to meet your firm’s needs.