Legal

Financial, COFA & compliance training

We provide a full suite of training courses for COFAs, finance teams, partner groups and fee earners, that can be adapted to the individual needs of your firm.

We’re happy to work with you to develop a training program that meets your specific requirements. Other courses that we have delivered to date include:

Updates on the legal sector
Financial performance metrics – income and gross profit levels
Understanding and interpreting accounts (financial statements)
Taxation – partnership, company, personal, employees (including benefits in kind) and VAT
Different business structures – traditional partnerships, LLPs, limited companies, service companies, corporate partners, ABSs and EOTs
Becoming a partner (aimed at senior fee earners looking to become business owners)
One-on-one training for accounts teams who are new to the legal profession.

How we can support your training journey

Our course content can be tailored to suit, and can include all or some of the following:

A background to the SRA’s various consultations, which led to the 2019 SRA Accounts Rules
Key principles behind the SRA Accounts Rules
Detailed review of the key sections of the Accounts Rules
Common breaches of the Accounts Rules, including tips on how to spot them and how to avoid them
Practical guide to key systems and controls
Client and office account frauds
Practical guidance on fraud prevention and detection
Changes to the role of the reporting accountant
Common VAT issues
For those appointed to the role of COFA, we can provide guidance on responsibilities, reporting to the SRA and practical tips

We provide in-house training to fee earners, covering the importance of time recording for improving business performance. The course covers the following:

Reasons why accurate time recording is becoming more imperative now than ever
Understanding the difference between productivity and recovery to ensure fee earners consider overall efficiency
The difference between profit and cash
Key and practical tips for both WIP and debtor management, to improve your firm’s overall working capital requirement
Ensuring fee earners appreciate where work comes from
Pricing

We’re happy to work with you to develop a training program that meets your specific requirements. Other courses that we have delivered to date include:

Updates on the legal sector
Financial performance metrics – income and gross profit levels
Understanding and interpreting accounts (financial statements)
Taxation – partnership, company, personal, employees (including benefits in kind) and VAT
Different business structures – traditional partnerships, LLPs, limited companies, service companies, corporate partners, ABSs and EOTs
Becoming a partner (aimed at senior fee earners looking to become business owners)
One-on-one training for accounts teams who are new to the legal profession

It was an extremely useful morning for me – I learned more in the two and half hours with you than I’ve gleaned from various procedural guides in the last few months – thank you so very much; it’s greatly helped to improve my confidence in these areas. Thank you for your patience in answering my questions – it was great to be able to run through the accounts with you and also discuss financial management more widely.

I was most grateful for the time you spent running through the various efficiency measures as these will give us much food for thought as we move forward.

Richard Burnside

The Burnside Partnership Limited

Insights

Are compliance risks holding your firm back?

From website breaches to anti-money laundering failures, the stakes for UK law firms have never been higher. Staying compliant isn’t optional, it’s a strategic priority.

Take a look at the top compliance mistakes UK law firms are making in our infographic here.

In a sector where precision is paramount and compliance is non-negotiable, accurate time recording is far more than a back-office task – it’s a cornerstone of financial health, regulatory integrity, and operational efficiency.

Take a look at our why accurate time recording is crucial for law firms blog to find out more.

Top five COFA responsibilities

We’ve outlined the top five COFA responsibilities every law firm should be aware of – from ensuring compliance with the SRA Accounts Rules to acting as the key liaison during financial audits. Click the button below to find out more

Download here