We launched the professional guardianship scheme in May 2017. This introduced a random sampling approach to reviewing annual accounts submitted by professional financial guardians. To date 36 firms have joined and are enjoying the benefits which include a faster processing time meaning quicker access to remuneration.
Now that the scheme has been running for some 12 months now, we will be offering other eligible firms the chance to join.
To be eligible to join the scheme each firm must be acting as a financial guardian for at least 5 cases. The firm must nominate a scheme owner (NSO), i.e. someone who holds a senior position within the firm, who will attend a mandatory ½ day workshop.
We plan to hold workshops in September / October 2018.
How does the scheme work?
- All first and final accounts continue to be fully reviewed however all other interim accounts fall under the scheme criteria.
- A summary and declaration form will be required for all interim accounts due at the end of the account period. The summary includes general information about the case, the account balances and any changes since the last account.
- The declaration is signed by the financial guardian to confirm that the work carried out and any fees and remuneration taken are in line with the AWI Act and the Code of Practice issued by Scottish Government.
- When we receive the signed declaration we will call for a random % of cases to be submitted for a full review.
- We will charge the minimum fee per case selected, currently £80.
Accounts falling under the scheme must meet a 90% quality standard, which will be applied to the accounts OPG randomly sample for full review. When members continue to meet the standard, the percentage of accounts to be fully reviewed will decrease.
Firms wishing to note their interest in making an application to join or requiring more information should contact Amanda Kerr, Communications & Training Manager akerr@scotcourts.gov.uk