Client: MBA Lawyers
Key Contact: Clayton Glenister
Industry: Small Business Accounting

Background

MBA Lawyers, a prestigious legal firm with a long-standing reputation for excellence, found themselves facing a short term challenge in their accounting and finance operations. With the inhouse finance manager moving onto a new role on short notice and various LEAP software issues, the firm was at risk of falling behind on essential regulatory requirements, including their annual Queensland Law Society (QLS) audit. Enter Altias Advisory—the firm’s trusted partner in navigating these turbulent times and securing their financial stability.

Key Challenges

The Challenge MBA Lawyers had long taken pride in providing first-rate legal services, but their finance and accounting department was having difficulties behind the scenes. The company found itself in a difficult situation due to a mix of software issues and team shortages. Their Leap accounting software was not implemented properly, which could have led to mistakes in financial reporting and inefficient workflow. The company’s impending annual QLS audit, a crucial evaluation that necessitated exacting financial paperwork and compliance, was also impending.

Solutions Provided by Altias Advisory

Altias Advisory was engaged to assist MBA Lawyers in meeting their legal and financial obligations.

  • Rebuilding the Finance Team: Altias assumed responsibility for evaluating the deficiencies in MBA Lawyers’ financial team. In order to ensure that all financial activities ran smoothly while the company worked on building its internal staff capabilities, Altias was able to temporarily cover the hole by deploying their own qualified specialists.
  • Leap Software Implementation: MBA Lawyers had been having problems with Leap accounting software. Altias offered professional advice on how to fix these issues. Altias made sure the company’s finance staff could fully utilise the software’s capabilities, which resulted in more precise financial reporting and increased overall productivity, through hands-on support and tailored training.
  • Handling the QLS Audit: Altias carefully examined the financial records of MBA Lawyers, making sure that every piece of paper complied with the stringent QLS criteria. The company passed its audit with flying colours.
  • Virtual CFO Services: Altias offered a Virtual CFO service after realising that MBA lawyers required continuous financial support. During this crucial time, this service helped the company manage difficult financial decisions by providing strategic financial oversight and assistance.

Key Results and Impact

MBA Lawyers came out stronger and more resilient, with their financial team back on track, Leap software fully functional, and a successful QLS audit under their belt. In order to keep the firm at the forefront of the legal sector, Altias’s ongoing Virtual CFO services assist its strategic financial planning.