this product is unavailable for purchase using a firm account, please log in with a personal account to make this purchase.

LIV offices remain closed until further notice.

Though we are working remotely to support our members.

Find out more
Select from any of the filters or enter a search term

LIV course equips principals to run business

LIV course equips principals to run business

By Karin Derkley

Practice Management Practising Certificate 


The LIV has introduced a practice management course that complies with new Victorian Legal Services Board (LSB) requirements for lawyers who want to set up their own practice or go into partnership.

LIV education product development manager Elissa Cohan says the course has been designed to equip lawyers with the essential knowledge and skill base they now need to demonstrate to the LSB in order to be granted a principal practising certificate.

The course will equip lawyers with the skills to run a successful business, she says.

"Until now lawyers haven't needed to undertake business management training to run their own business," she says. Those that have set up their own practice or moved into partnership at a law firm have either picked up the skills on the job or organised their own training.

"But the skills you need to set up as a principal are very different from the substantive legal training and knowledge you need as a lawyer," Ms Cohan says. "People underestimate the time and energy that needs to be dedicated to business and practice management.

"When you go out into your own business you have to transition from focusing purely on legal advice to focusing on your firm's business strategy. You need to know how to set a budget, understand cashflow, and be across work-in-progress reports."

The LIV course has been structured according to a set of guidelines issued by the LSB that outlines the minimum requirements for a practice management course.

"We've also worked with leading experts across a range of topic areas," Ms Cohan says.

Topics covered include the regulatory responsibilities of a principal, risk management, business strategy, financial management and accounting, trust account requirements, technology and people management. Expert facilitators include Stephen Bubb from the LPLC, leading consultant Liz Harris and Brent Szalay from SEIVA Accountants.

The course will be delivered as a combination of online and face-to-face workshops. Course materials will be made available online 10 days before a three day face-to-face training workshop with facilitators and experts. Participants then have two weeks from the end of the workshops to complete assessments online.

The first workshop will commence on 19 March. Further courses will run in May and June. The introductory cost for the course is $1980.

The course covers all CPD requirements for the year, and those participating in the course will benefit from ongoing support and networking opportunities.

Find out more about the course here.

Views expressed on (Website) are not necessarily endorsed by the Law Institute of Victoria Ltd (LIV).

The information, including statements, opinions, documents and materials contained on the Website (Website Content) is for general information purposes only. The Website Content does not take into account your specific needs, objectives or circumstances, and it is not legal advice or services. Any reliance you place on the Website Content is at your own risk.

To the maximum extent permitted by law, the LIV excludes all liability for any loss or damage of any kind (including special, indirect or consequential loss and including loss of business profits) arising out of or in connection with the Website Content and the use or performance of the Website except to the extent that the loss or damage is directly caused by the LIV’s fraud or wilful misconduct.

Be the first to comment