Compliance, regulation, risk and the threat of an SRA intervention; Compliance with the Solicitors Accounts Rules, abiding by Outcome Focused Regulation and COLP & COFA responsibilities add to the burden of running any legal practice.
What could possibly go wrong?
Recent rulings by the Solicitors Disciplinary Tribunal have shown a growing trend of solicitors being struck off for breaching the Solicitors Accounts Rules, from using client funds to fund office account transactions, using client accounts as banking facilities or not having proper and correct accounting records. It is clear that some practices need support. But where from?
The question of data protection and confidentiality is addressed at the outset of any engagement, whereby a confidentiality agreement is signed by the remote legal cashier and firm.
The benefit of a remote legal cashier is that they can work offsite and for as much or little time as required. A practice may only need a legal cashier for a few hours a day or a few days a week. The cost savings compared to employing a full time legal cashier quickly appreciate and the practice has peace of mind. Savings by not directly hiring a Legal Cashier include employer NI, staff benefits, auto enrolment, overheads and office space.
At Bidwell Henderson we have a dedicated department who provide legal cashiering services specifically to law firms. We are offering a free, no obligation, comparison to see if our service could be more cost effective and beneficial to your business. If you would like to receive the free comparison please email firstname.lastname@example.org