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CFOs and financial directors in UK law firms: Time to ease the pressure

Adoption of industry-wide financial management best practice key to risk limitation in law firms.

The last few years have been tumultuous for the legal sector. Many law firms are in financial difficulty and to add to their woes, they are under intense scrutiny from the Solicitors Regulation Authority (SRA). Recently, the SRA has identified is a direct correlation between financial difficulty and misuse of client monies, substantially increasing risks to customers.