Traditionally an industry in steady growth, the legal services industry has recently undergone a phase of consolidation involving several mergers and closures of small firms. These measures were intended to make firms more resilient in the face of growing competition and complexity. The medium and large firms have experienced most growth in recent years.

We have extensive experience and insight into the way law firms organize themselves, as well as the challenges that are unique to partner-owned enterprises. We serve as auditors and advisors to several of the largest law firms, as well as a multitude of medium-sized and smaller law firms.

  • Audit, preparation of annual financial statements, and tax return/third-party reporting
  • Evaluation of the optimal corporate structure for a law practice, including ongoing reassessments as changes occur in regulations or assumptions
  • Ownership in a law practice, whether personal/direct or through partnerships such as general partnerships, limited partnerships, internal partnerships, and/or limited liability companies; tax-related opportunities and challenges
  • Content of partnership agreements as well as alternative partner models concerning entry, profit distribution, withdrawal, etc
  • Acting as a consultant in the selection of systems and procedures for time tracking, billing, and accounting
  • Advisory services regarding mergers with other law practices, acquisitions, exits/demergers, and liquidation
  • Providing information on news in tax, duty, accounting, and follow-up of such regulatory changes related to law practices

How can we help you?