Following recent approval by the Legal Services Board of the SRA’s proposals in relation to the future regulation of the legal sector, PKF Francis Clark will deliver a series of one day seminars during May 2019 aimed at helping law firms with the opportunities and challenges arising.
The seminars will cover the new SRA Accounts Rules and will also focus on the commercial impact from a structural and taxation viewpoint that these changes could have on law firms over the coming years. In addition, we’ll discuss key profitability issues such as; having the right management information; KPIs; and profit sharing/incentive arrangements.
- To help you be prepared for future SRA compliance visits and investigations
- Identify efficiencies and possible cost savings under the new Accounts Rules
- Help to reduce the risk of a qualified Accountants’ Report
- Identify tax and commercial planning opportunities for your firm
- Meet your obligations as a COFA or Manager in the firm
- Ensure your firm is ready for the impact of changes from Summer 2019
Who should attend?
- Managing partners
- Finance partners/directors
- Practice managers
- Senior finance team members
- Compliance partners
Morning (9am-1pm) (Accounts Rules and Management Information focus)
- Reviewing the detail of the new rules and considering where firms need to make changes to comply from Summer 2019
- Identifying opportunities where firms can make changes under the new rules which may be more practical and commercial for them
- Reviewing available guidance from the SRA on the new rules
- Considering internal audit processes and the role and obligations of the COFA and Managers JT/AA
- Producing and using the right management information and KPIs
Afternoon (1.30pm-5pm) (Strategic focus)
- Opportunities for law firm structuring following approval of the SRA’s proposals for regulatory change
- Current tax planning strategies in law firm businesses and how this is changing
- Profit sharing and bonus arrangements that really incentivise performance at the margins
- Funding your law firm in the future – how much partner capital should you have? How much external debt?
To reserve a space
Please click here for London’s half day session.
Please click here for London’s full day session (including lunch).
Places are limited so early booking is recommended.