Providing specialist legal and regulatory advice to Accountants and Accounting firms

Our specialist team of solicitors provides a wide range of advice and training to accountants and accounting firms on legal and regulatory issues.

Drawing on expertise from the firm’s various practice areas, we are able to work alongside, advise and assist accountants and accounting firms in relation to a number of areas:

Regulatory and civil defence

Our specialist accountancy defence lawyers are able to offer you advice and support should you be the subject of a complaint to, or an intervention from, your regulator. We have significant experience of defending accountants, auditors and insolvency practitioners before all of the UK accountancy regulatory bodies including:

• Financial Reporting Council (FRC);
• Institute of Chartered Accountants in England and Wales (ICAEW);
• Association of Chartered Certified Accountants (ACCA);
• Institute of Chartered Accountants of Scotland (ICAS);
• Chartered Institute of Public Finance and Accountancy (CIPFA);
• Association of Accounting Technicians (AAT); 
• Chartered Institute of Management Accountants (CIMA).

For further information on our regulatory services visit our Defending Accountants and Accountancy Firms page, or contact Julie Matheson.

 

Employment issues

We advise firms of accountants and individual accountants on a number of employment issues, including:

• recruitment issues including examination/professional qualification performance and achievement;
• disciplinary and grievance issues, capability procedures and suspensions;
• flexible working and family friendly rights at work;
• business protection including confidentiality, restrictive covenants and 'team move' situations;
• sexual misconduct in the workplace (or outside) issues;
• allegations of bullying;
• remuneration and bonus disputes;
• data protection/GDPR issues;
• redundancies and re-structuring;
• dismissal/termination of employment;
• unfair dismissal, discrimination and whistleblowing claims;
• partnership/LLP Agreements;
• partnership/LLP terminations.

For further information on our employment services, contact any member of our Employment team.

 

Corporate Services

Our corporate team can assist individuals and firms in a number of ways, including:

Services for firms of accountants

• establishing the entities through which firms operate, and advising on their initial structure and funding;
• drafting the key agreements to govern the relationship between shareholders (if a company) or members (if an LLP), and advising generally on corporate governance in respect of such arrangements;
• advising the firm on corporate procedures or transactions, including on any sale of shares or assets, or on any restructuring;
• advising in relation to ongoing commercial matters, including on the drafting and negotiation of key contracts with suppliers and customers, the protection of intellectual property or on data protection/compliance issues.

Services for individuals

• advising on directors’ duties and liabilities for those involved in management of the firm, or in respect of their outside interests;
• advising on individual rights and duties as members or shareholders of the firm.

For further information on our corporate services for accountants and accounting firms, contact James Fulforth.

 

Immigration advice

Our Immigration department has been advising accounting firms for many years and so understand the challenges they face. The team offer a high end to end service that includes:  

• applying for a sponsor licence for accounting firms that wish to sponsor foreign nationals;
• assisting with the preparation and submission of Skilled Worker or ICT applications;
• taking overall control of the sponsor licence in order to report migrant activity, along with other key changes;
• carrying out compliance audits along with appropriate training;
• providing clear and strategic advice on any matter relating to UK Immigration law, to include issues relating to right to work checks;
• advising on permissible activities for those intending to visit the UK for business;
• working in association with our trusted partner network across the world to ensure that accountants and/or other relevant member of the business travelling to foreign jurisdictions has obtained the appropriate work permission.

For further information on our immigration services for accountants and accounting firms, contact Ilda de Sousa.

Investigations

Our specialist investigations team regularly works alongside accountants, in particular audit, tax and forensic practitioners, in a variety of areas:

• fraud matters, particularly HMRC tax fraud investigations, furlough fraud investigations and corporate criminal offences;
• anti-money laundering issues (AML);
• coercive powers of law enforcement – search warrants, interviews and Judicial Review;
• bribery and corruption - including failure to prevent bribery;
• Criminal Finances Act proceedings – Asset Freezing & Forfeiture, Production orders and Unexplained Wealth Orders.

For further information on our investigation services for accountants and accounting firms, contact David Sleight.

 

Legal training for accountants and accountancy firms

We also provide training and advice on a number of topics relevant to the accountancy profession and the profession’s clients.  These include:

• data protection, confidentiality, and disclosure obligations;
• crypto fraud issues and recovery;
• Directors’ duties;
• using shareholder agreements/articles as part of inheritance planning;
• effective drafting of terms of business and limitations of liability;
• professional conduct and ethical obligations, including conflicts;
• GDPR post-Brexit;
• Immigration options for HNW clients relocating to the UK.

Please contact one of the team to discuss any training needs you or your clients may have. We would be pleased to discuss a bespoke training package with you.

 

Private equity Investment

Our Tier-1 Regulatory team and Corporate team have extensive experience advising on private equity investment into professional services firms, particularly in the accountancy and audit sector.

Having acted on both the buy and sell sides in respect of transactions for ICAEW and FRC-regulated firms in the UK, offshore and internationally, we possess a detailed understanding of the commercial and legal priorities and regulatory obligations of investors as well as target accountancy firms.  

From a regulatory perspective, this includes navigating the regulatory requirements regarding ownership and control, formulating appropriate corporate structures, as well as undertaking the requisite due diligence processes.

In advising on regulatory risk, we draw from our wider expertise of defending large accountancy firms and senior individuals in ICAEW and FRC investigations and enforcement proceedings.

Our corporate team draw on their extensive transactional experience in this sector to ensure appropriate risk allocation and clear consideration mechanisms, as well as making sure that the future relationship of the partners of the target firm and the investor is clearly governed, with both sides being aligned on the next stage of the business. 

Professional Negligence

Our Professional Negligence Team has a wide range of experience in advising accounting firms on potential professional negligence matters both in respect of claims against the firm itself and in dealing with claims which impact their clients including:

• Defending claims against accountants relating to audit practice and procedure;
• Acting in claims relating to accounting firms and fraud allegations;
• Advising claimants and defendants in respect of negligence claims arising from accountancy advice; and
• Acting for individuals in respect of advice relating to tax mitigation schemes.

For further information on our Professional Negligence services, please contact Jemma Brimblecombe

 

Further information 

If you would like more information or require advice in relation to any of the above areas, please contact a member of our specialist team for accountants and accounting firms.