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A solicitor contacted me about doing his accounts. He is just about to start in business, and seems rather green.

Before I set up a meeting with him, are there subsidiary reports that the Law Society would demand that I would have to do? If so are they technically demanding, or dead easy to russle up? I've no previous experience working for solicitors, but I've seen some posts in the past where working for solicitors wasn't exactly trumpeted.

 

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By bernard michael
13th Sep 2019 13:40

They are on my do not touch list along with Pubs & Indian
take-aways

Thanks (2)
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By JDBENJAMIN
13th Sep 2019 13:59

There are indeed specialist things that a solicitor needs. In my opinion it is not worth the effort of gearing up to do these if it is only for one client. For this reason I won't act for solicitors, just as for the same reason I won't act for surveyors, estate agents, and doctors.

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By Moonbeam
13th Sep 2019 14:23

Thank you both. That's good enough for me. I shall politely decline.

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By Duggimon
13th Sep 2019 15:21

The biggest headache is always the client accounts, of which there may be loads.

That and shoddy record keeping generally and lateness/disorganisation. If it's not billable they don't want anything to do with it so admin falls by the wayside.

I'm sure there's exceptions out there but I've never met them.

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By Moonbeam
13th Sep 2019 16:03

I didn't feel particularly inspired by this person, and I suspect Duggimon has accurately described the likely state of affairs by the end of the year!

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RLI
By lionofludesch
13th Sep 2019 16:06

Client money is the barrier for me.

Not that I've ever been asked ......

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Hallerud at Easter
By DJKL
13th Sep 2019 22:03

Here is a link to some of the forms Scottish Law Firms need to submit.

https://www.lawscot.org.uk/members/rules-and-guidance/rules-and-guidance...

It is niche work, it was always compliance heavy even back in the 1980s/1990s when I last did solicitor audit work (we had three firms as clients,) I expect these days it is even more regulated.

Of the non standard entities we did work for (not just company/club audits) ,in ranking of trickiness( I tended to do all these except the charities), it was:-

Solicitors and IFAs handling client money at 1
IFAs with no client monies at 2
Charities at 3
Pension schemes at 4
Travel Agents with ABTA bonding at 5

I would avoid like the plague.

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By In a Daze
14th Sep 2019 13:43

As mentioned it is a specialist area. I don't touch them along with;

Farms
Charities
Potential clients who can be caught by IR35

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