Law Firms, Trust Money, and Financial Risk: What Accountants Must Get Right
Law firms have unique financial rules — and getting them wrong creates serious risk. This session shows how to correctly manage accounting and financial processes in law firms with confidence.
2 CPD units April 15, 2026
What will set you apart
By completing this course you will gain the following competencies
- How law firms differ financially from other businesses
- How trust accounts affect accounting and reporting
- Common financial risks specific to legal practices
- How income, expenses, and cash flow work in law firms
- Key controls needed to protect client and firm money
- Common accounting mistakes made in legal practices
- How to confidently serve law firms as a specialised client base
Event breakdown
- Overview of how law firms operate financially
- Income streams and billing in legal practices
- Trust accounts and their financial impact
- Cash flow management in law firms
- Expense management and profitability
- Internal controls and risk management
- Common accounting errors in legal practices
- Financial reporting considerations
- Positioning yourself as a trusted advisor to law firms
Category: AccountingType: CPD CourseCPD category: Accounting
Description
Law firms operate under strict financial and regulatory expectations, yet many accountants treat them like ordinary businesses. This session focuses on the unique accounting and financial management requirements of law firms, including trust money, cash flow management, and internal controls. Delegates will gain practical insight into how legal practices earn income, manage expenses, and protect client funds. The session highlights common problem areas that expose firms and professionals to compliance and reputational risk. Designed for accountants who work with law firms or want to expand into this niche, the session provides clear guidance on managing legal practice finances correctly. By the end of the session, delegates will feel confident supporting law firms with accurate, compliant, and value-adding financial management.
You will earn a certificate
On successful completion you will receive a certificate for 2 CPD units in Accounting.
Requirements
- Laptop, desktop, or mobile device with internet access
- Microsoft Edge, Google Chrome, Safari, or Firefox browser