Member Since: 10th Jun 2015
31st Jul 2019
As you’ve binned off audit, have you thought of binning off your regulator?
I made the jump 10 years ago and have never regretted it for a minute.
15th May 2019
DS01 can now be done online as well
22nd Aug 2018
When I was a trainee in the early 1990’s, the senior partner of the firm (11 partners about 200 staff) had strict rules on what you could use / wear / say in front of clients. No one was allowed to drive a car worth more than £15k when new to the office or a clients (have what you want for the weekend) Suits were mandatory for all, but were not allowed to cost more than £200. No Rolex watches. The offices were clean and presentable but by no means flashy. I once saw the partnership accounts (they were left on a photocopier) and the firm was very profitable, but never let on. I still consider these rules sound principles to live by (except the suits, which I abandoned 3 years ago) and have insisted upon similar in my own firm.
11th Jul 2018
Third time I’ve seen this said in the last couple of months but zero evidence of it (yet) on the ground.
None of the high street banks appear interested in either my practice or my clients businesses and haven’t for years.
I won’t hold my breath on hearing from any of them soon.
17th May 2018
We purged all non-clients about 6 weeks ago thereby losing 80% of our database.
We’ve asked for specific consent from clients for the last year via our LOEs which we refresh every 12 months.
I too have been inundated with consent requests from organisations I’ve never had any dealings with. Like the OP I’ve either ignored them or actively unsubscribed.
30th Jun 2017
What I believe we are seeing with this is the start of the process of deregulation of law in the same way accountancy was with the continued upwards push of the audit thresholds.
Like accountants, lawyers have an increasing number of regulators and qualifications (CILEx anyone) and are operating increasingly polarised practice models with GPs being pushed down the path of price completion because others can do what they do for less (e.g.: HR companies, debt collection companies, CLC conveying etc etc) while the magic circle share multi million profits across their partners.
I also believe we, as accountants, are going to end up the winners of this; we run better businesses (accountancy firms can be bad, but wow, have you looked at lawyers practices?), systematise more, are trained to look more holistically than lawyers at "the business" and (on the whole) have more customer service skills.
Interesting times indeed.
16th Jun 2017
Deleted - answered my own question