Recently taken on the role of COLP or COFA for your firm? If so you're probably already busy working with your firm to ensure the numerous regulatory obligations are met. Integrating these roles and responsibilities effectively within the firm and striving to assert authority to ensure compliance is taken seriously is proving a mammoth task for those new to the roles. However, help is at hand. Managing Partner's COLP and COFA: Compliance in Practice, second edition will be published in just 2 weeks! Packed with new and up-to-date case studies, examples, and advice, this critical guide offers practical support to help you meet the SRA requirements and use your position to maximum benefit. Fully updated, the second edition takes into account version 7 of the Handbook and includes practical examples and advice on: The responsibilities of the COLP and COFA; What a compliance plan should contain; What taking all 'reasonable steps' to ensure compliance means; Reporting non-compliance and what 'material' non-compliance might include; The relationship between the SRA and the COLP and COFA; and, The most recent SRA guidance for COLPs and COFAs and advice on interpreting the guidance in everyday practice. New and up-to-date case studies and expert commentary are included, for example on: The challenges currently being faced by COLPs and COFAs in practice; The early experiences of a COLP in an ABS - David Hartley, Abbey Protection Group Limited; The reporting accountant's perspective on the role of the COFA - Rowan Williams, Head of Baker Tilly Tax and Accounting Professional Practice Team; The similarities to the MLRO role; and, The nuts and bolts of compliance. Practical worked examples of issues to consider with regard to materiality of breaches are included, along with a sample risk register identifying issues, potential risks, and suggested solutions. You'll also find new real-life scenarios from a large international firm highlighting the compliance issues they have faced and how they have successfully dealt with them. Ensure you are better placed to achieve a low risk rating for your firm and avoid falling under the scrutiny of the SRA's new supervision regime.