The Lexsure Independent Audit for sole practitioners essentially works in the same way as the SRA audit, minus the terror.
It involves the following steps :
- Lexsure requests a copy of your PCP’s (AML Policy, FWRA etc)
- You will be asked to complete a questionnaire concerning your procedures.
- You will asked for a list of all live and recently closed matters (these will be matters within the scope of the regulations)
- Lexsure will review the firm’s PCPs
- Lexsure will randomly select and review up to 8 files. You would be expected to supply these in a digital format (where audit is remote) or have the files available at the offices for review in an attended situation .
Where the audit is remote we will conduct zoom interviews with a selection of fee earners and support staff. Where the assessment is ‘office-based’, interviews will be ‘in-person’.
Lexsure will provide a post-audit follow-up either remotely or face-to-face depending on the type of audit. A written report follows.
The cost and time frames vary depending on the type of audit.
- Remote : £795 + VAT. The process from start to finish takes approximately one month.
- Office based: £1475 + VAT. The process from start to finish takes two weeks.
The above pricing is available based on scheduled audits in 2024 and paid for one month ahead of the agreed audit date.