Why the SRA Accounts Rules bind firms

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01
Accounts rules purpose
Say the three core reasons the Accounts Rules exist, in one short run-through.
02
Who must comply
State who must follow the rules when client money is handled by a firm.
03
Classify money first
When money arrives, what is the first classification question you ask before posting it anywhere?
04
Client money or office money
Give one quick distinction between client money and office money in practical terms.
05
Wrong account, wrong ledger
If money is misclassified, what is the immediate accounting risk in the ledger and bank treatment?
06
Technical breach still counts
Can a technical mistake still be a breach if no client loss happens? Answer yes or no, then explain briefly.
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Why the SRA Accounts Rules bind firms

Guided prompts in this topic

Accounts rules purpose

Who must comply

Classify money first

Client money or office money

Wrong account, wrong ledger

Technical breach still counts

1 more building block