Working side by side with our clients to add value to law firms and their partners throughout the world.
In today’s digital, client-centric economy, law firms face significant challenges. To navigate these challenges, firms need a trusted advisor who understands how to turn these challenges into advantages with both traditional issues like strategic planning, consolidation, cost management, pricing and profitability and newer ones like delivering a digital experience, artificial intelligence, cybersecurity and privacy and cryptocurrencies.
PwC offers a full range of services tailored to meet the needs of law firms. Our Law Firm Services (LFS) practice brings a singular, specialized focus on law firms. Our global network is able to provide the guidance and in-country knowledge you need to transact business and handle global, national and local tax issues. We are able to provide timely and insightful answers to your questions, and have a long and proven record as a trusted advisor to clients, which include the majority of the AmLaw 100.
With the passage of The Tax Cuts and Jobs Act of 2017, signed by President Trump on December 22, 2017—many law firms are evaluating how the new legislation will impact their firm and partners, as well as evaluating how they can best position their firm for the future. At PwC, our subject matter specialists are continually evaluating the new tax law and providing valuable insight for our clients. For more information, bookmark our Tax Reform Readiness website.
As a leader within the accounting profession with a full range of dedicated services for law firms, we can help guide your firm through change by identifying ways to improve financial operations, and by improving internal controls, developing risk strategies, managing talent and helping identify, qualify and integrate acquisitions.
For almost 60 years, the PwC Law Firm Services Group has provided premier law firms with comprehensive benchmarking information on a broad range of management topics that confront law firm leaders. Participation in our benchmarking program can allow your firm to: gain a deeper understanding of its position in the market, identify potential opportunities to improve profitability and make better informed strategic decisions.
Law Firm Accounting and Financial Management, co-authored by two of our partners, includes explanations and illustrative exhibits on the latest management, tax planning and accounting strategies for law firms; new information reporting requirements; and special issues affecting multinational firms. Topics covered include:
Advanced topics include: managing risk; pricing strategies, management information reporting; benchmarking; property acquisition; M&A accounting and strategies for successful mergers; capital structures and financing; the uniform task-based management system; and partner compensation.
Law Firm Accounting and Financial Management is also available in loose leaf from Amazon.
Business as usual is not an option for law firms. Like other industries, law firms have been impacted by technology, disruption and client demands for a changing business model. Leading firms look to PwC to help them adapt to this changing landscape to successfully navigate the turbulent seas and position them for long-term growth and success. Popular areas of focus include: digital transformation, artificial intelligence and cybersecurity and privacy.
Digital innovations are changing the way legal services are being delivered and received. Law firms that are quick to adopt these changes will have an advantage over their competition. PwC’s Digital Services practice works with organizations to help them with their digital business transformation strategy and implementation.
Artificial intelligence is disrupting the status quo, changing how law firms can interact with their clients. PwC’s data and analytics practice works closely with clients to help them make faster and better decisions. Learn more about PwC's Data and Analytics practice.
Multiplying cyberthreats have made an effective cybersecurity program a critical business requirement. PwC’s Cybersecurity and Privacy practice helps organizations protect against threats, propel transformation and pursue growth. Learn more about PwC's Cybersecurity and Privacy practice.
Long-term strategic planning has become increasingly important for law firms. PwC’s Strategy& brings specific and deep global expertise that can help law firms adopt responsive solutions, adapt to change in a compressed time frame and apply transformational strategies that enable them to better fulfill their missions. We work with our clients to develop strategic visions, improve business processes, reduce complexity and build new capabilities for long-term success. Strategy& Strategic Planning practice.