The Gazette 1974

recently the College of Law has appointed a Director

of Continuing Education with a view to providing the

assistance which the profession needs. I look forward

to the extension of continuing education.

To sum up, our aim is the conti-n«ed service of our

profession to the community, and with it the continuing

prosperity of our profession. We believe in an initial

education which will train the mind and which, in its

vocational stage, will inculcate the entrants to the

profession with proper standards and procedures and

we believe that those entrants so initially trained should

during their growing experience in practice continue to

educate themselves and should be assisted by us in

that pursuit.

We shall now have to consider further, how, in the

light of the profession's views, this aim may be attained.

It has seemed to me that your thoughts are largely

similar to ours.

Mr. Joseph Dundon, in proposing the vote of thanks

to Mr. Edwards, emphasised that the Court of Exam-

iners had been guided by the President, Mr. Prentice, in

trying to raise legal educational standards which would

be deemed to have parity in other EEC countries. It

was essential that, as in England, the profession should

maintain the control of practical legal subjects.

Mr. Brendan McGr a th emphasised that he con-

sidered continuous courses in specialized subjects essen-

tial if we are to compete successfully against outside

specialists. It will also be necessary to advertise the

services of specialists. Since our entry into the Com-

munity, it is essential for us to learn how other pro-

fessions work.

Mr. Edwards replied that the question of specialisa-

tin was difficult. The Law Society had considered

whether specialist Diplomas could be awarded in certain

subjects, but had finally opposed it. He thought it would

be a mistake to try to train a lawyer as an accountant

or other profession, although he would favour short

managerial courses.

Mr. Horsfall Turner, Secretary-General of the Law

Society, emphasised that they had encouraged the local

Law Societies to provide lists of specialists, which

would be made available to lawyers of foreign countries,

if required.

Mr. J. M. Sweeney (Athenry), Acting Professor of

Law in UCG, stated that it would be unrealistic to

provide for specialisation in Ireland. In the B.C.L.

course, there were 20 subjects to be studied in three

years, and this only induced excessive cramming.

Mr. Liam MacHale (Ballina) emphasised the diffi-

culty of obtaining legal assistants in the country, and

hoped that steps would be taken to overcome this. It

might be possible to obtain financial assistance for legal

education f r om industry.

Mr. Lomas, Secretary of the Incorporated Law

Society of Northern Ireland, emphasised that the num-

ber of firms specialising in the North was very limited.

T H E F I NANC I AL MANAGEMENT OF

T H E LEGAL PRACT I CE

The Director-General, Mr. Ivers, presided at the first

meeting on Sunday, 12 May 1974 in which Mrs.

Margaret Downes delivered the first lecture on The

Financial Management of the Legal Practice. She said :

In speaking on the Financial Management of the

Legal Practice I believe that the most meaningful way

in which we could all spend the next hour is that we

all participate in a discussion on this subject.

I propose, to talk with you about the results of the

pilot survey which we have carried out on the solicitors

earnings in Ireland and which document was circulated

to you yesterday and also on the draft paper on solici-

tors' time costing and financial accounts, which, again»

you have had since yesterday. (It is hoped to publish

the text in a subsequent issue.)

It is then intended to have a general discussion with

all of you and to have your views. Jim Ivers, your

Director-General, Brian Barry, our Coopers & Lybrand

management consultant and I will be very happy

t 0

answer any questions which you may have.

We have not mentioned in any of the documentation

which has been given to you that one of the mam

reasons why your Society in recent years has been

concerned with obtaining information on the overall

earnings and profits of the profession and the profit-

ability, or lack of profitability, of different types ot

work is so that it would be in a position to have

meaningful information available in the event of an

enquiry by the National Prices Commission into solici-

tors' earnings. You are all aware that this has been

mentioned and written about on a number of occasion*

and already there has been an enquiry into the auc-

tioneering profession.

It may well be that one category of work, convey-

ancing for example, may well be carrying another cate-

gory of work within a solicitor's practice and, if

enquiry by the National Prices Commission should

reveal that the present scale rates on conveyancing are

excessive, due to the inflationary climate in which we

have lived over the last many years, it might be that

those scale rates would be reduced, thereby creating

a n

all-over profitability problem within a firm, due to the

fact that this particular category of work was carrying

unprofitable work. The compilation by your Society of

comprehensive picture of overall earnings and profit'

ability, and of the profitability of different types

work is, therefore, an essential step on the road to

resisting an enquiry or dealing with adverse

recoíp'

mendations arising out of an enquiry. It is also essential

for the development of a satisfactory fee structure m

the profession.

The results of the pilot survey which we have under-

taken on solicitors' earnings in Ireland shows, among

other things :

1. Audited accounts do not always exist. Where they

do, the latest accounts often refer to periods which

ended up to two years ago.

2. The up-to-date value of fixed assets, particularly

premises, is not always known.

3. There is among solicitors unease about certain

aspects of the survey:

(a) Solicitors do not want their individual earning

even if given anonymously, examined by the

Incorporated Law Society or by the general mib-

lic or by the National Prices Enquiry.

(b) The profits of individual practices often vary

from one period to another.

It is to be resolutely stressed that average figure

only will be used and that strict and utter confiden-

tiality will be maintained by Coopers & Lybrand.

4. There is general agreement among your profession

that the earnings survey is desirable and that there '

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