Legal Sector - Improving Management Information
More than just Accountants to the Legal Sector
We were recently invited to discuss the accounts function of a legal firm who were concerned about their lack of reporting efficiency (i.e. their under usage of IT, duplication of work and large volumes of paper reports were being produced but these provided little information of value to the business) and this reduced their ability to produce timely financial information for their management team.
We were able to review and assess their systems and procedures and look at the responsibilities of the accounts personnel, identifying areas of weakness and providing our proposal for improvements.
Our assessment included an in-depth review of all accounts related processes and reported on the proposals, and we were then asked to project manage in our recommendations for the business.
Working with their solicitors accounts software providers we ensured that these objectives could be met through integrating these new processes with their bespoke case management system.
Streamlining processes through greater use of IT has increased the efficiency of their accounts and reporting function. Our sector knowledge and experience means we have also ensured that all systems are compliant with the SRA requirements and that they support the COFA’s obligations to ensure, report and monitor compliance within SRA Accounts Rules.
This is just one example of the work that we perform for legal firms and we know that our experience enables us to fully understand the sector requirements. We deliver a different chartered accountancy service that adds much greater value to your legal sector business.
For more information call us today on 0845 330 3200