Changes for solicitors

View important changes for solicitors made by the Solicitors Accounts Regulations 2023.


  • the regulations apply to all solicitors who handle client moneys

  • cheque signatory / authoriser must include a solicitor with a practicing certificate being the sole practitioner or a partner of the firm

  • responsibility for any breach of the regulations extends to the solicitor responsible for the actual breach, and not just the principal or partners of the firm

  • the firm compliance partner is to provide specific confirmation to the Law Society, through the Form of Acknowledgement, of compliance with the regulations in respect of balancing statements, balances outstanding two years or more, review of client ledger balances for undue or unnecessary delays and back up of computerised accounting systems


  • client balancing statements must be prepared at quarterly intervals in respect of client account transactions and signed off on by the sole practitioner / compliance partner

  • client ledger balances must be reviewed for undue or unnecessary delays in discharging client moneys and immediate action taken to clear same, where appropriate

  • a listing of client ledger balances outstanding two years or more is to be prepared at the accounting date and furnished to the Law Society by the Reporting Accountant (RA) at year end

  • a register of undertakings must be maintained

  • a register of funds held on joint deposit must be maintained

  • a record of electronic transfers must be maintained separately

  • off-site back-ups of accounting records on computerised systems must be maintained

  • the Law Society must be notified of a deficit that cannot be rectified within seven days of the deficit coming to the solicitor’s attention


  • prior to withdrawing costs from the client account, a solicitor is required to notify the client in writing in accordance with Regulation 7(1)(a)(iii). The client must be notified in writing of moneys applied in satisfaction of costs

  • clients are to be furnished with a statement of account in respect of each matter

  • client moneys are to be returned to clients when the legal service is completed

  • witnessed signatures to be obtained from recipients of any cash payments

  • only funds received in respect of the provision of legal services to clients can be lodged to the client account

  • documentary evidence of compliance with S149 to 153 of LSRA must be kept on file


  • client accounts are not to be used for the purpose of borrowing from, lending to, or organising loans between clients

  • client accounts are not to be used to hold moneys other than in respect of legal services provided, or to be provided

  • client accounts are not to be used to hold, or to pass through, solicitors’ personal moneys

  • transfers of fess and outlays from client to office accounts are to be related to specific clients


  • it is no longer a requirement to open a separate bank account where a solicitor is acting as personal representative of an estate

  • estate moneys to be lodged to the client account


  • the Solicitors Accounts (Amendment) Regulations 2021 (SI 463 of 2021), which dealt with interest charges, have been fully incorporated into Regulation 8. Regulation 8 now deals with both interest charges and interest earned on clients moneys