BigLaw Fee Antics Persist Despite Dewey's Cautionary Tale
Law360, New York (July 1, 2015, 6:30 PM EDT) -- Put the books of today's BigLaw firms under the accounting microscope aimed at Dewey & LeBoeuf LLP, experts say, and you'll likely find other instances of firms managing next year's numbers by using creative accounting on the timing of incoming fees.
While prosecutors have focused on a year-end collection push — they contend Dewey leaders encouraged partners to collect backdated checks to fraudulently boost apparent cash flow, among other trickery — law firm bookkeepers say "front-dating" fees is a common, if little discussed, feature of BigLaw accounting.
“There is some gray area there,” said Tim Corcoran of Corcoran Consulting Group LLC....
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