Outsiders As Overseers
August 16, 2004
In the wake of Enron, WorldCom, and other corporate scandals, corporate governance has come under the microscope. One reform that has been widely endorsed is the election of more independent, outside, nonexecutive directors to boards of publicly owned corporations. Outside corporate directors provide not only accountability but also perspective, diverse experience, and credibility. <br>Law firms might well benefit from outside directors in the same way. Indeed, some non-U.S. firms have already done so.
Look Before You Leap
August 16, 2004
One of the most difficult decisions any partner faces is whether to make a lateral move. Unlike associate lateral moves, which are relatively straightforward and can be accomplished in as little as one week, the issues facing partners are far more complex, and the process can typically take three to four months ' sometimes much longer. <BR>Before making the leap, partners should consider these questions.
Successful Succession Planning For Law Firms
August 16, 2004
Succession planning is one of those management issues that rarely gets much attention until a senior partner or rainmaker announces plans to leave or retire ' and then the firm goes into crisis mode.
Insurers' Billing Complaints
August 13, 2004
Insurers and auditing firms say that the following types of billing inconsistencies are the most common.
It's Not What You Bill, It's What You're Paid
August 13, 2004
Over the past two decades, the monitoring of legal bills by insurance firms that are paying for outside counsel has become standard practice. Whether using in-house accounting staff or hiring a third party, insurers have put attorneys on notice about what they will pay for, and how work must be documented. In turn, attorneys who defend insurance cases have had to adjust the way they do business.
Attorneys' Major Complaints
August 13, 2004
Attorneys who conduct a large number of insurance defense cases say that they face these problems with the insurance companies that they represent.
Methodology of an Auditing Firm
August 13, 2004
Judy Brompster of Accountability Services (New York) says that some auditing firms are too prescriptive in their approach. "How can an auditing firm say that a deposition should take 40 minutes?" she asks. "Some take more, and some take less."
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