Service Overview
Professional services firms consistently face challenges of fee resistance, client dissatisfaction and more. Managing these changes has become a combination of reducing costs, operating more efficiently and strategically planning for the future.  Crowe Horwath International member firms have developed an expertise to assist professional services firms with both the day-to-day and long-term practice management issues.

What Member Firms Do

• Evaluate the tax and financial impact of partnership agreements including capital requirements, capital payouts, and profit and loss allocations
• Develop merger plans, analyze financial and tax considerations, and perform due diligence reviews for potential mergers or lateral partner additions
• Review internal controls and their implementation to help increase profitability and fiscal security
• Assist in negotiating office leases including analyzing the tax and financial impact of rent concessions and work letters
• Review escalation charges from landlords, including real estate tax, operating expenses, porters’ wages and CPI
• Analyze and review various approaches for financing law firm operations as well as the variable expenses and methods used to control those expenses
• Develop financial reporting packages which can greatly enhance decision making including:
  • Accrual basis and cash basis financials         
  • Attorney/partner collection and billing realization
  • Attorney/partner productivity reports     
  • Cash flow budget/actual variance analysis
  • Client/matter billing and collection realization
  • Client/matter profitability reports
• Review escrow accounts and evaluate financial and internal controls and standards
• Develop both qualified and nonqualified retirement plans
• Analyze retirement and death benefits available for partners and funding alternatives
• Provide partners and associates with marketing techniques to generate new business