BusinessBusiness RecoveryLaw firms should notify regulator of financial trouble, says KPMG

Law firms should notify regulator of financial trouble, says KPMG

Solicitors Regulation Authority should know of firms in trouble before they enter insolvency

Solicitors should be duty-bound to notify their regulator of financial
difficulties before they go insolvent, KPMG has recommended.

The Big Four firm is currently working with the Solicitors Regulation
Authority to see how the financial stability of Solicitor firms affect the
public interest, according to lawgazette.co.uk. Currently firms only have to
notify the SRA when they become insolvent.

KPMG’s report also recommended a new core duty on financial management as
part of the solicitors’ rules

Related Articles

EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

9m Emma Smith, Managing Editor
Administrators from KPMG appointed to City Motor Holdings

Business Recovery Administrators from KPMG appointed to City Motor Holdings

1y Richard Crump, Writer
FRP Advisory hires new partner from KPMG

Accounting Firms FRP Advisory hires new partner from KPMG

1y Richard Crump, Writer
Former Torex CEO sues KPMG and RBS

Accounting Firms Former Torex CEO sues KPMG and RBS

2y Richard Crump, Writer
BHS enters administration as Duff & Phelps fail to find suitable buyer

Accounting Firms BHS enters administration as Duff & Phelps fail to find suitable buyer

2y Fraser Simpson, Reporter
PwC questioned over BHS ‘going concern’ audit

Accounting Firms PwC questioned over BHS ‘going concern’ audit

2y Chris Warmoll, Writer
MPs hear from trio of Big Four firms over BHS advice

Accounting Firms MPs hear from trio of Big Four firms over BHS advice

2y Chris Warmoll, Writer