Case Study – Legal Services Industry

Accounting Client

A leading barristers’ chambers based in London.

Accounting Problem

The chambers employed their own temporary bookkeeper and engaged the services of an accountant to submit the annual filings. There was, however, a gap in terms of regular advice, management accounts and cash-flow reporting.

Processes and procedures also needed reviewing and improving.

The chambers also needed recruitment support in sourcing a permanent bookkeeper for the longer term.

Accounting Solution

We allocated one of our senior accountants to work on-site between 2-4 days per month delivering on the following:

• Provide strategic input to the Chambers’ Manager in respect of the development and implementation of financial processes and procedures concerning the chambers accounting services.
• Provide professional guidance to the chambers’ accounts administrator. 
• Provide assistance to the chambers’ manager in respect of the budget process.
• Prepare quarterly management accounts, including spend against budget.
• Prepare monthly cash flow reports and forecasts.
• Monitor the Chambers’ accounts assistant and reporting to chambers management as appropriate.
• Prepare the year-end accounts with full supporting schedules and assist the chambers’ auditors in respect of the annual accounts.

Using our sister company, Braant Recruitment, we later sourced a permanent bookkeeper.