Why Pricing Billable Work May Be Too Important to Leave to the Lawyers

, The American Lawyer


It's time to start talking to clients about money in an unembarrassed, active way.

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What's being said

  • NYS Courts ex-Wife

    This is nothing new. Auditors have been examining the cost of legal bills for decades and questioning the value of the services provided. There are auditors (accountants) who specialize in nothing but analyzing legal costs. Also not new is the lack of comprehension by the lawyers - their eyes glaze over when numbers are mentioned. To quote Harry Markopolos, the auditor who uncovered the Bernie Madoff scam and tried for seven years to explain the finances to the SEC laywers: "if blank looks were dollar bills, I would have left those meetings a rich man". Bottom line - lawyers have to start taking accounting classes in law school. They cannot afford to stay ignorant any longer - it costs everyone too much.

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