Chair: Simon Prideaux (The Royal Bank of Scotland plc)
Speaker: Dermot Power (BDO LLP)

This workshop will consider:

• Highlighting internal and external factors currently impacting the financial viability of professional services firms
• Analysing the key components of a professional firm’s balance sheet (especially the recording and valuation of work in progress)
• Considering optimal financial structures (including the role of external equity funding) and the future for Limited Liability Partnerships
• Discussing the role(s) of lender(s)
• Anticipating and managing financial distress (including retention of key practitioners and clients)
• Optimising tax treatment

Outcome:  

• To improve participants’ understanding of the risks currently faced by profesional services firms and the factors which can lead to financial distress
• As a result, improving the quality of advice/representation participants can give to parties facing or affected by such issues (including the management of their own businesses)