Financial Systems Review

Are your Financial Systems working as well as they could? We can carry out an independent audit. We have worked with over 350 law firms. We have experience from the viewpoint of a solicitor and equity partner and department head and Board member, but also financial, SAR audit and accounting expertise.

Examples of issues we can include:

• WIP and debtor management review
• Systems improvements and industry benchmarking
• Financial performance review
• Reviewing results and assessing against key financial stability indicators
• Client money systems reviews:
• Review of SRA Accounts Rules client money controls and systems
• Quarterly / Pre SRA Accounts Rules audit review and feedback report
• Pre annual statutory accounts audit review (larger firms only) or annual accounts preparation review (smaller firms) – focusing on key areas of error / estimation:
  • WIP valuation – practical considerations vs. accounting standards requirements
  • Provisioning for bad or doubtful debts
  • Other provisioning – including client claims, dilapidations provisions, onerous commitments, accruals etc.

We will want to have a meeting with you to find out what you want, what your firm does and if there are any particular issues of which we should be aware. We will then need access to reports and also to the system and perhaps to speak with staff in order then to evaluate according to your brief and then provide you with a report with recommendations.

Our consulting rates are £200/hr + VAT

To find out more contact us on 07887 524507 or [email protected]