Show Me the Money!

The rapid and pervasive onset of COVID-19 led many law firm leaders to implement emergency austerity measures. Six months after the pandemic, many law firms are on track to meet budget, though the full financial impact remains to be seen, But just as a drought can reveal discarded refuse in a dry lake bed, the pandemic exposed some of the inherent weaknesses in the current law firm financial model. In this session, we'll identify some of the poor fiscal hygiene that economic shocks tend to surface within law firms. We'll also discuss what law firm leaders can do to change course, both to safeguard against future economic shocks, and to put the firm on a better financial footing. 

Objectives

• Review the elements of poor fiscal hygiene that we can ignore in good times but must address in tough economic times 
• Discuss how alternative approaches to fiscal hygiene can provide more predictability and economic safety 
• Prepare attendees to spearhead or participate in these discussions in their own firm 

$29 for members and $79 for nonmembers

CLM® Recertification Credit: 1 hour in the subject area of Financial Management (FM)