City law firm misses accounts deadline
Embarrassment for Hammonds as it fails to submit compulsory document
City law firm Hammonds has made a double gaffe by missing the 31 January
deadline to file an accountant’s report and also for failing to ask for an
extension for missing the cut-off date.
The filing of such a report is required under solicitors’ accounting rules,
providing the Law Society with details about the handling of client money.
Evidence of this was uncovered in a letter seen by Legal Week, which
was sent to partners earlier this month by the Law Society.
‘The matter may be referred to the Compliance Directorate and either an
Adjudicator or the Adjudication Panel, who will consider your explanation when
deciding on further action,’ the Law Society said in the letter.
A Hammonds spokeswoman said: ‘This was an administrative oversight, and we
are working closely with the Law Society to resolve it as soon as possible.’
Hammonds is audited by PwC.