Source of Funds - knowing it, doing it, and proving it on the file

Source of funds remains a perennial problem. It features in SRA thematic reviews year after year, and it is still one of the most common failings picked up in audits. The frustrating part is that the knowledge is usually there. Fee earners often do the thinking, but the file doesn’t show it. That gap between what people know and what they document is where firms come unstuck.

In this session, Tom Lyes from Tom Lyes Consultancy and Steve Brett from E3 Compliance Training will look at why source of funds keeps tripping firms up despite years of guidance and training. Tom will give an independent view of the current product landscape and what vendors are actually doing to help firms tackle the problem. Steve and Tom will then turn to the moment of truth: closing the gap between a fee earner’s judgement and what ends up on the file, and why another three hours of PowerPoint won’t fix it. Expect a practical discussion on what does.