In the current regulatory climate, “hoping for the best” is no longer a viable compliance strategy for law firms. With the Solicitors Regulation Authority (SRA) increasing the frequency of audits and the transition toward tighter FCA-level scrutiny, law firms are under more pressure than ever to prove their anti-money laundering (AML) credentials. The cornerstone of… Read more: AML Audit Checklist for Law Firms: Is Your Firm Truly Inspection-Ready?

The regulatory landscape for professional services is changing, with the FCA becoming the primary supervisor for accountants, intensifying oversight akin to that of law firms. This shift necessitates a dynamic, risk-based Accountancy AML Checklist, tailored to specific client profiles. Firms must adapt to comply with evolving regulations by 2026 or risk serious repercussions.

The Solicitors Regulation Authority (SRA) mandates robust AML compliance as it narrows the gap between written policies and practice. Effective January 2026, firms must demonstrate mature AML systems, using AI for data validation. A comprehensive audit checklist is necessary to prepare for SRA audits, highlighting risk assessments, ongoing monitoring, and staff training.