PracticeAccounting FirmsAccountants encouraged to blow the whistle

Accountants encouraged to blow the whistle

Forensic experts are urging accountants to 'blow the whistle' on law firms where they uncover serious financial irregularities.

The call comes from a senior member of the Office of the Supervision of Solicitors, which polices the legal profession.

Richard Lane, OSS senior investigation officer, said accountants can play an important role in ensuring law firms do not breach the Law Society’s solicitors accounts rules by dipping into clients’ funds.

Lane said: ‘I would encourage people to exercise their whistle-blowing powers much more. If there is a major deficit on the client account, whether it is error or fraud, we would like you to tell us about it.’

Lane, also an accountant, carried out over 400 inspections last year, resulting in 62 solicitors being struck off. A further 29 were suspended and 78 either fined or reprimanded, Lane told the annual conference of the ICAEW’s solicitors group in Coventry.

Related Articles

BDO’s global revenues pass $8bn

Accounting Firms BDO’s global revenues pass $8bn

3d Alia Shoaib, Reporter
Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

Accounting Firms Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

5d Philip Smith, Reporter
Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

Accounting Firms Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

7d Emma Smith, Managing Editor
BDO reports revenue growth of 5.7%

Accounting Firms BDO reports revenue growth of 5.7%

2w Alia Shoaib, Reporter
Taylorcocks announces merger with Surrey firm

Accounting Firms Taylorcocks announces merger with Surrey firm

2w Emma Smith, Managing Editor
Kingston Smith reports 7% gender pay gap

Accounting Firms Kingston Smith reports 7% gender pay gap

2w Emma Smith, Managing Editor
RSM announces two partner promotions

Accounting Firms RSM announces two partner promotions

2w Emma Smith, Managing Editor
Backsourcing: The latest accountancy trend?

Accounting Firms Backsourcing: The latest accountancy trend?

1m Pillsbury Winthrop Shaw Pittman