SRA Audits
Specialist assurance for regulated law firms.
Solicitors operate in an environment where regulatory compliance, client trust and financial integrity are critical. Meeting the requirements of the Solicitors Regulation Authority demands robust systems, effective controls and expert oversight.
Our specialist SRA audit team works with law firms to deliver efficient, thorough audits that meet regulatory requirements while providing valuable insight into risk management and operational effectiveness.
We understand the unique challenges faced by legal practices and provide pragmatic recommendations that help strengthen controls, improve compliance and support long-term success.
How we can help
Our SRA audit services include:
- SRA Accounts Rules compliance audits
- Client money reviews
- Control and process assessments
- Risk identification and mitigation
- Regulatory reporting support
- Compliance advice
- Systems and controls recommendations
- Training and best practice guidance
- Preparation for regulatory inspections
- Independent assurance reviews
Specialist expertise for legal practices
Our team understands the operational realities of running a law firm. We work collaboratively with partners and compliance teams to deliver audits that are efficient, supportive and valuable.
Why choose Monahans SRA Audits?
- Specialist legal sector expertise
- Deep understanding of SRA requirements
- Practical compliance recommendations
- Efficient and collaborative approach
- Focus on risk reduction
- Trusted adviser relationships
Our SRA audit specialists help law firms meet regulatory obligations while strengthening the controls that protect clients, partners and reputation.
Sector expertise that brings confidence and peace of mind.
Frequently Asked Questions
What is an SRA audit?
An SRA audit is an independent review of a law firm's compliance with the Solicitors Regulation Authority Accounts Rules and related regulatory requirements.
Which law firms need an SRA audit?
Whether a law firm requires an accountant's report depends on how client money is handled and the firm's specific circumstances under current SRA regulations.
How can an SRA audit benefit my firm?
An audit helps identify weaknesses in systems and controls, reduces compliance risks and provides reassurance to partners, regulators and clients.
Will an SRA audit disrupt our business?
Our approach is designed to be efficient and proportionate, minimising disruption while ensuring a thorough review.
What are the most common compliance issues identified?
Common issues include client account reconciliations, residual balances, breaches of Accounts Rules and weaknesses in internal controls.
Do you have experience with law firms?
Yes. Our specialist team has extensive experience working with legal practices and understands the specific challenges and regulatory requirements facing the sector.
Can you provide advice beyond the audit?
Yes. We offer practical recommendations to strengthen your processes, improve controls and support ongoing compliance.