SRA Exemption from Accountant’s Report
Following approval by the Legal Services Board, from 1 November 2015, some firms will be exempt from the requirement to obtain an accountant’s report.
The exemption will apply where during the accounting period the average balance on client account does not exceed £10,000 and the maximum in each balance does not exceed £250,000.
Leave a Reply
Want to join the discussion?Feel free to contribute!