COLP and COFA: Compliance in Practice (3rd edition)

The requirement to have a compliance officer for legal practice (COLP) and a compliance officer for finance and administration (COFA) in SRA-regulated legal practices is now a well-established part of the compliance landscape. But what do those jobs look like ‘under the bonnet’?

This updated edition addresses that key question, presenting easy-to-navigate explanations and suggestions that every compliance officer will find useful.

A highly respected former SRA ethics adviser, lawyer, compliance consultant, author and speaker, Tracey Calvert is perfectly placed to facilitate this crucial discussion.  

It is vital for any compliance officer to first understand the regulatory destination, so the book’s initial chapters set the scene, explaining the move from rules-based regulation to the SRA’s current principles-led approach.

Key elements of the Principles, the codes of conduct and the Accounts Rules are explained in context and illustrated with highly practical examples, some drawn from recent disciplinary decisions, thus driving home the consequences of non-adherence.

This book will be of particular interest to anyone considering taking on their first compliance officer role. Calvert’s thoughtful and practical insights will inform that decision-making process, helping potential newcomers decide whether it is the right role for them.

The author also tackles the internal politics of management. Calvert discusses the inter-relationship between the COLP and COFA roles, whether the roles can be successfully combined, and how effectively discharging those roles will depend on appropriate leadership and teamwork.  

This is highly recommended reading for all in-post compliance officers – and those not yet wearing the cape.

Fiona du Feu spent over 20 years in private practice. She now runs her own risk and compliance consultancy for lawyers