The Institute of Legal Finance & Management (ILFM) has announced the launch of iCOFA – The COFA Institute, a new initiative designed to support Compliance Officers for Finance and Administration (COFAs), Deputy COFAs and compliance team members across the UK legal sector.

The COFA role continues to play an increasingly important part in ensuring firms meet their regulatory obligations under the SRA Accounts Rules and maintain financial integrity. The ILFM has said that iCOFA was developed in response to feedback from its members, many of whom identified a need for a dedicated, independent resource focused on the specific challenges faced by COFAs.

iCOFA will provide access to guidance, training, and peer-to-peer networking opportunities, alongside resources such as the ILFM COFA Handbook. The Institute also notes that iCOFA may, where appropriate, engage with the SRA on issues affecting compliance professionals.

Further information about iCOFA and its membership options can be found at www.cofa.institute.