News

The professional guardianship scheme was launched in May 2017 and introduced a random sampling approach to reviewing annual accounts submitted by professional financial guardians. 36 firms have joined the scheme and are enjoying the benefits which include a faster processing time meaning quicker access to remuneration awards. 

We are offering other eligible firms the chance to join the scheme. To be eligible, 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 early October 2018. Colleagues may attend along with their NSO.

If your firm is interested in joining the scheme, please complete our application form and return by 21 September 2018.  

How does the scheme work?

1. All first and final accounts continue to be fully reviewed however all other interim accounts fall under the scheme criteria.
2. 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.
3. 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.
4. When we receive the signed declaration we will call for a random % of cases to be submitted for a full review.
5. We will charge the minimum fee per case selected, currently £80.

Quality standard

Accounts falling under the scheme must meet a quality standard, which we refer to as ‘a clean account’. A 90% pass mark will be set to ensure that accounts meet our standard. When members continue to meet the 90% standard, the percentage of accounts to be fully reviewed will decrease.

It is hoped that by establishing a relationship between the firm’s scheme owner and our account manager that the quality and standard of accounts will improve, thus improving processing times.

Please contact akerr@scotcourts.gov.uk if you need any further information on the scheme or workshops.