Article Index
19 Results: Accounts, Billings
23 January 2017
, by Shafiq Sobri, Jardine Llyod Thompson Sdn Bhd
Keywords: "bank statement", "clients' account", "clients' accounts", "clinet account", "judgement in default", "judgment in default", non-equity, "partnership agreement", "sleeping partner"
Joffrey and Theon were the partners of Messrs Baratheon & Associates, the Insured Practice (“IP”). When Theon joined the partnership, there was no partnership agreement executed between the two. Instead, they
mutually agreed to a ver...
23 January 2017
, by Shafiq Sobri, Jardine Llyod Thompson Sdn Bhd
Keywords: "clients' accounts", "Deed of Dissolution", "Originating Summon", partnership, property
Emily and Victoria were the founding partners of Messrs Grayson & Co, the Insured Practice (“IP”). After some
time in the partnership, there were some disagreements about the Firm’s business plan, eventually driving a wedge bet...
23 January 2017
, by Shafiq Sobri, Jardine Llyod Thompson Sdn Bhd
Keywords: "clients' accounts", "Disciplinary Board", "Memorandum of Transfer", newly-formed, partnership, "stamp duty"
Alexis began her legal career as a legal assistant at Messrs Morello & Associates where she befriended Piper, a senior legal assistant at the firm. When Piper left Messrs Morello & Associates to set up her own firm, Messrs Chapman & Co, A...
23 January 2017
, by Shafiq Sobri, Jardine Llyod Thompson Sdn Bhd
Keywords: "clients' accounts", partnership, "sole proprietor"
After several years of practice, Max, a legal assistant at Messrs Channing & Associate, the Insured Practice (“IP”) was offered to be a partner of the Firm by Caroline, the sole proprietor of the Firm at that time. Max had been handli...
01 March 2013
Keywords: Accounts, Dishonesty, "Firm Management", Fraud, "Office Management"
Disclaimer: This extract was taken from the article ‘An Explanation of Some of the Main Terms of the 2013 Certificate of Insurance’ which was published in JURISK! March 2013. The information herein has been edited to reflect the ...
08 June 2012
Keywords: Accounts, Dishonesty, Embezzlement, "Firm Management", Fraud, Technology, "third party"
Research has shown that small to mid-size practices are often more vulnerable to fraud than their larger counterparts because they have fewer employees. Firms with fewer employees tend to have less segregation among duties, with fewer intern...
01 June 2012
Keywords: Accounts, "Case Study", Dishonesty, Fraud, Misconduct, PII
…innocent partners within the firm will be protected and covered in a claim involving misconduct?
Dishonest and fraudulent conduct by any member of a Firm is detrimental to any law practice; even more so when it involves the misa...
01 June 2012
Keywords: Accounts, "Case Study", Dishonesty, Embezzlement, "Firm Management", Fraud, "Sole Proprietors"
The following are case studies of claims notified under the Malaysian Bar PII Scheme. All names of people and places have been replaced to maintain anonymity.
Case Study 1: Misusing Trust and Authority
Total amount embezzled: RM2,5...
01 June 2012
Keywords: Accounts, Dishonesty, Embezzlement, Fraud, Notification
Likes working alone
Employees that steal from firms more or less have set modus operandi that requires falsifying documentation, forging signatures etc. In order to successfully do so and keep their actions under wraps, they find working a...
01 December 2011
Keywords: Accounts, "Case Study", Dishonesty, Embezzlement, "Firm Management", Fraud, PII
Does your firm's PII Policy provide cover against dishonesty?
Public policy dictates that only an innocent partner/s can seek indemnity of any form. Clause 11 of the 2014 Certificate of Insurance (“COI”) protects and inde...
01 December 2011
, by Melissa Kraal
Keywords: Accounts, Billing, Finance, "Firm Management", "Office Management", "Practice Management"
Billing
Tracking and billing time to clients is an important and inevitable part of working in a law firm. Now more than ever, billing and collection are processes that practitioners must master if they are to manage their practices effe...
01 December 2011
, by Melissa Kraal
Keywords: Accounts, Billing, "Firm Management"
BILLING
1) Avoid Lump-Sums
Itemise your bills along with the time spent on each piece of work done. Viewing this in detailed lists will make the client more appreciative of the work you have put in. You would also avoid time co...
01 December 2010
, by Shyamala Manoharan and Wong Li Chin
Keywords: Accounts, "Case Study", "Firm Management", Fraud, "Office Management", PII
Partnership/pahrt-ner-ship/ (noun):
The relation which subsists between persons carrying on business in common with a view of profit.[1]
In West Malaysia, there are 5,786[2] law firms in operation, 48.75% are partnerships.
Of...
01 June 2009
Keywords: Accounts, "Firm Management", Fraud, "Office Management"
HOW TO REDUCE RISK OF FORGERY OF CHEQUES?
Ask yourself these 10 questions about your firm's financial and accounting practices.
Do you or your partners:
Regularly ask for status reports from your accounts staff?
Exercise ...
01 March 2009
, by Martin Goh, Echelon Risk Consulting Asia Pte Ltd
Keywords: Accounts, Billing, "Business Continuity", "Client Handling", "Firm Management", "Office Management", "Time Management"
Beyond Survival
As we navigate through what many are calling the worst economic recession since the Great Depression of the 1930s, law firms would not have been spared the widespread impact of the current economic crisis.
Whilst sur...
01 March 2009
Keywords: Accounts, Conveyancing, Embezzlement, "Firm Management", Fraud, "Office Management"
“No, it won’t happen to my firm! We’re always careful…”
A common statement when reading articles of this nature. Nevertheless, news headlines of recent months forecast a challenging year ahead - rece...
01 June 2008
Keywords: Accounts, "Case Study", Embezzlement, "Firm Management", Fraud
Employee embezzlement is a growing threat to legal firms. Members should be alerted to the fact that in 2007 and 2008, there was an increase in the number of employee embezzlement cases (as reported by several legal firms to the Insurer of the Pll...
01 June 2008
Keywords: Accounts, "blank cheques", Checklists, Dishonesty, "Employee Embezzlement", "Firm Management", Fraud, "Improvement and Processes", "Office Management"
The list of questions below are non-exhaustive, they are basic safeguards that all firms should implement, if they have not already.
DO YOU:
Request for status reports periodically from your accounts staff?
Status...
01 March 2007
, by Dan Pinnington and Dave Bilinsky
Keywords: Accounts, Billing, Finance, "Firm Management"
This article is an excerpt from the booklet: “Managing the Finances of Your Practice”, by Dan Pinnington and Dave Bilinsky, published by the Lawyers’ Professional Indemnity Company (LAWPRO®), 2003 (pp. 28 – 31).&n...