Accounts Certificate
The accounts certificate is an important component of our regulatory tool box. It takes the form of a questionnaire gathering data on practice units' compliance with the 2011 Accounts Rules. Completion of the Accounts Certificate is therefore mandatory for all practice units in Scotland.
If you would like to prepare your answers in advance, please contact a member of financial compliance to obtain a copy of the appropriate certificate depending on the set-up of your practice unit. Your certificate must be completed and submitted online in the the members area of our website.
How can I access the accounts certificate?
The accounts certificate can be accessed by signing into the members area of our website using your individual Cashroom Manager credentials.
If you have lost their username and password you should contact us at loginenquiries@lawscot.org.uk
Can I download a blank copy of the certificate for reference?
No. Should you wish to prepare your answers in advance on paper, please contact a member of the financial compliance team to discuss obtaining a copy of the appropriate certificate.
Only one online certificate will be available to you in the members area. If this is not the correct one, and does not reflect the current status of your practice unit, please let us know at fincomp@lawscot.org.uk
How do I link the certificate to the practice unit if I am completing this in my own name?
This can be done by pressing the 'Find Firm' button and selecting your practice unit from the list.
What information will I need to complete the accounts certificate?
You will need your reconciled client account(s) balances as at the certificate period end date and the previous quarter end date. You will also need a copy of your most recent year-end accounts. You might find it helpful to prepare your certificate on the downloadable paper copy provided, but you must submit your certificate online in the members' area of our website.
How do I sign the certificate?
There is a declaration page at the end of the certificate for you to enter your name, in confirmation that the information provided is correct and accurate to the best of your knowledge.
Can I part-complete the Certificate and then come back to it at another time?
Yes, you can. By clicking the 'find firm' button and selecting your practice unit, you can find your part completed form.
How do I attach my Power of Attorney list?
There is an option to upload this when answering the relevant question.
How do I declare a breach on the digital certificate?
The system is designed to know when a question requires further information and will provide an additional pop up box for the relevant information.
Can I print a copy of my completed certificate for my records?
A copy of your completed certificate will appear in the portal 24 hours after it has been reviewed by a member of the Law Society team. If you require a copy of the certificate emailed to you please email your request to accountscertificate@lawscot.org.uk.
Why do we need to provide information from our year end accounts?
This information allows us to gather a better understanding of the overall health of the profession. This insight enables us to adopt a more risk-based approach in our role to protect the profession and the public.
B6: Accounts Accounts Certificates Professional Practice and Guarantee Fund
The Accounts Certificate is now strictly digital as of 1 August 2020 unless your practice unit has ceased to trade.