Review of the management information and financial reports generated by law firms with suggested improvements to ensure improvement in financial performance

Armstrong Watson's Legal Sector team will review your current management information and financial reporting practice against your firm's business requirements. We will then present a report recommending improvements to your process to enhance the financial performance of your business.

The recommendations will include what management information should be produced, its format and frequency. They will also include templates, key performance indicators and targets for each department of your firm.

Contact our Legal Sector Partner, Andy Poole, on 07828 857830 or andy.poole@armstrongwatson.co.uk to discuss how we can help you.

  Read more about the benefits of appointing Armstrong Watson

What is it?

A review of the effectiveness of your current management information and financial reporting process.

Who is it for?

All law firms of all sizes in all locations.

What are the benefits for your firm?

  1. Be more aware of the position and performance of your firm
  2. Take appropriate action on an informed basis
  3. Improve fee earner performance

What do I have to do?

Compile required information. Pre-agreed partners and staff to be available for interviews. Partners and head of finance to attend the closing meeting.

What are the deliverables?

On-site interviews with selected Partners and staff. Presentation of draft report. Issue of final report with implications and improvement actions.

What is the cost?

£3,100 plus VAT for law firms of up to 50 people. Bespoke costs agreed for larger firms.

How long will it take?

One month.

CASE STUDY

A recent MI review of a PI department revealed that the firm wasn't time recording correctly, and therefore was unable to make informed accurate decisions due to the lack of, specifically, recovery and utilisation rates. The report issued included recommendations for what management information should be produced, what that information should focus on specifically and who should be provided with that information. Additionally target KPIs were suggested.

Your Key Contacts

Andy Poole

Legal Sector Partner

07828 857830

Email Andy

Rosy Rourke

Legal Sector Director

07557 951148

Email Rosy

Tom Blandford

Legal Sector Director

07793 621951

Email Tom

Get in touch

To find out more about how we can help you or your business, contact one of our Legal Sector Specialists above.

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Armstrong Watson LLP is a limited liability partnership registered in England and Wales, number OC415608. The registered office is 15 Victoria Place, Carlisle, CA1 1EW where a list of members is kept. Armstrong Watson Accountants, Business & Financial Advisers is a trading style of Armstrong Watson LLP. Armstrong Watson LLP is regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities.

Armstrong Watson Audit Limited is registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales. Registered as a limited company in England and Wales No. 8800970. Registered office: 15 Victoria Place, Carlisle, CA1 1EW

Armstrong Watson Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. Firm reference number 542122. Registered as a limited company in England and Wales No. 7208672. Armstrong Watson Financial Planning & Wealth Management is a trading name of Armstrong Watson Financial Planning Limited. Registered Office: 15 Victoria Place, Carlisle, CA1 1EW