Three independent bodies are now responsible for regulation, complains handling and representation for solicitors, namely the:
The Solicitors Regulation Authority will be responsible for sending requests for and receiving accountants' report forms. The current forms being issued will contain the Law Society name and logo but these will be replaced and reports will refer to the Solicitors Regulation Authority and logo.
However, the Solicitors' Account Rules 1998 have not been amended to reflect the change and Rule 38 - Reporting accountant's rights and duties - letter of engagement, refers to the Law Society.
As an interim measure, and to help your solicitor clients with the change, Solicitors' Account Rules engagement letters should be changed to refer to both the Law Society and/or Solicitors Regulation Authority.
ACCA's example letter of engagement for a reporting accountant under the solicitors' account rules will be amended to reflect the change.