Your career as a Legal Finance Professional.

The legal sector currently sports thousands of opportunities and offers the perfect career path for smart individuals who want to make a difference. The Institute offers a range of benefits to help anyone planning to work in the legal finance and legal management sector: our training and qualifications will open new opportunities to help members on their career path. Institute members will learn the techniques of preparing and presenting information on financial management in law firms as well as the basic day-to-day operations in a compliant legal finance department. We are always available to help and support you and to answer questions you may have. We also of course list vacancies for employment within the sector.

Q&A

What is legal finance and accounting?

The Solicitors Regulation Authority regulates law firms and legal providers to maintain public trust and to ensure legal services are delivered ethically. Solicitors often receive and hold their clients’ money as part of a legal service - buying a house, for example. Rules protect client money which solicitors must hold in a “client” account. The Solicitors Accounts Rules 2011 (SRA Rules) are specific and set out the detailed treatment and rules solicitors must follow in dealing with client money.

What is a legal cashier?

A legal cashier is a specialist bookkeeper who has pivotal role in law firms and who is responsible for the accounting and finance functions of a solicitor's practice, such as recording day-to-day financial transactions and ensuring the firm complies with the SRA Rules. The term "legal cashier" is in common use within the legal profession in England and Wales: nearly all firms that transact client money will have a legal cashier and larger firms will employ a team of cashiers.

Isn’t the legal sector for solicitors?

If you are interested in working in the legal industry, but not as a solicitor or in practising law, the role of legal cashier offers a unique opportunity to develop or start a career in the business management and accounting of a law firm.

Can I enter the legal sector?

The legal sector is a specialist profession and area of business. If you have changed career and are thinking of working in the legal sector, the Institute can offer training and qualifications in legal accounting, in financial management and in practice management, to help you understand the workings of a law firm.

Do you offer continuous support?

Changes in the landscape of the legal industry mean it is important to keep up to date with best practice, compliance and solutions to everyday problems. Our qualifications and training add to your experience and provide you with support to keep on top of current topics within legal management.

I want to start a career in accountancy

Are you considering an accountancy qualification but wonder if you are quite ready? Our qualifications can be an important step in the path to a full accountancy qualification and provide exemptions from CIMA and ACCA examinations. Read more about our exemptions.

How do I book onto a training course?

We offer our training days to members and non-members alike: our members benefit from a discount of 35%.

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