As the UK law firm financial reporting season draws closer, law firm managing partners up and down the country are desperately thinking up ruses to make their profitability look better than it actually is.
One clever ploy that has reached The Diary is the practice of de-equitising partners just before the close of the financial year, and then divying up the profits between the remaining partners as if the de-equitised partners had never been in the equity.
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