Karen Edwards

Head of Professional Development, The Institute of Legal Finance & Management

I joined the ILFM in April 2023, having worked in private legal practice for over 18 years. During my time in the legal industry, I have worked in a variety of roles, including Legal Secretary, Chartered Legal Executive and, most recently, in law firm management, as Operations Director. I graduated from university in 2005 with a LLB (Hons) Degree in Law before completing my CILEX training to become a Chartered Legal Executive in 2010.

In law firm management, my focus has always been primarily on financial operations and compliance, (including taking on the roles of COLP and COFA). The experience I have gained throughout those years have enabled me to develop a deep understanding of the key business, financial and regulatory requirements of running a law firm, particularly around protecting client money and assets, profitability and cashflow. Key areas of responsibility have also included employee training, and development of Practice Management Systems (and sourcing new technology) to improve efficiency, productivity, financial performance, as well as using the technology to mitigate risk and ensure compliance.

Most recently, I have obtained a CIMA qualification in Management Accounting, and a Diploma in Legal Finance & Compliance to add to my legal qualifications.

Outside of work, I enjoy musical theatre, learning about history and following different sports. I am also a governor at our local secondary school.

Contributed to

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For a firm which is a limited liability partnership (LLP) to be able to sue on a bill, should the member

Q&A

This Q&A is intended for law firms. Where a member of a limited liability partnership (LLP) signs a bill, it considers whether that signature should be in the name of the firm or in the name of the individual LLP member.

Practice Compliance

Is a client entitled to see a copy of their client account ledger and/or any payments made from office

Q&A

This Q&A considers whether a client is entitled to see a copy of their client account ledger and/or any payments made from the office account.

Practice Compliance

Is it possible to ask clients at the outset of a matter whether they are happy for any small residual

Q&A

This Q&A considers whether it is possible to ask clients at the outset of a matter whether they are happy for small residual balances to be donated to charity.

Practice Compliance

Is there a difference between agreed fees and fixed fees? If yes, how must each one be dealt with in

Q&A

This Q&A is intended for law firms. It considers whether, under the SRA Accounts Rules, there is a difference between agreed fees and fixed fees.

Practice Compliance

We maintain a central register of money held outside of a client account. In some instances, money which

Q&A

This Q&A is intended for law firms regulated by the SRA. It considers whether money normally held outside of client account which has been converted into investments such as bonds and shares should be included in a central register.

Practice Compliance