Outcomes focused regulation (OFR) has been applied by the Solicitors Regulation Authority (SRA) since 6 October 2011. After several deadlines the role of Compliance Officer for Finance and Administration (COFA) finally came into effect on 1 January 2013. Whilst many COFAs will undoubtedly have been previously involved in the SRA accounts rules and financial accounting aspects of their firm, for some this new role may seem a little daunting at first.
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