Legal Finance Compliance & Accounts Rules (Diploma Level)

Objective: To provide a sound and comprehensive knowledge of the accounts rules in legal practice in order to meet compliance requirements.

Legal Finance Compliance & Accounts Rules course can either be taken after Bookkeeping for Legal Financial Professionals or if you have obtained exemption;  so it could be the first or second course studied with the ILFM.  The course is designed to help you build your knowledge of the accounts rules encountered everyday in your role within practice.  We always focus on best practice and professional ethics. We will give you confidence in using what you have learnt leading to confidence in progressing with your career.  Covering legal regulation under the Solicitors Regulation Authority and CILEx Regulation, the course will refer to both the different regulatory bodies and their relevant accounts rules around holding client money.  Studying and gaining a qualification will give you a huge sense of accomplishment and give you a greater sense of job fulfilment.   

Contents of the course:

  • Tutorial 1   Purpose and aims of the legal professionals accounts rules
  • Tutorial 2   Client money and client account
  • Tutorial 3   Firms own money - Office Account
  • Tutorial 4   Withdrawals from client account
  • Tutorial 5   Client money not held in client account
  • Tutorial 6   Retaining funds not linked to a transaction
  • Tutorial 7   Disbursement v. Recharges
  • Tutorial 8   Interest
  • Tutorial 9   Record Keeping
  • Tutorial 10  Reporting Accountants report
  • Tutorial 11  Rules not already covered

Each tutorial contains self test questions and an assignment to be submitted for marking

We also high recommend these ILFM Trainings, to help your in your course : SRA Accounts Rules 


All Inclusive Coursework and Examination Fee:  £495

Please check if you are entitled to any exemptions by holding other relevant qualifications. 

Coursework

  • Full access to online course material
  • Dedicated UK based ILFM tutor, inc one-to-one support and feedback
  • Access to students forum
  • Employer updates (if required)
  • Individual Study Plan
  • Full access to extra student resources online

Exam Preparation

  • Dedicated ILFM tutor (one-to-one support)
  • Sample examination Paper/Questions
  • Exam preparation day
  • Exam preparation material
  • Employer updates (if required)

Examination

  • One Examination Entry Fee included (students wishing to take the exam locally will be required to pay any additional costs incurred)