Institute of Legal Finance & Management (ILFM) is the successor name of the Institute of Legal Cashiers and Administrators (ILCA) which was founded in 1978 by a small group of cashiers working in practices who believed there was a need to establish and maintain standards for all professionals working in legal accounting. Its motto is Diligentia, Vigilantia which means Diligence and Vigilance.
ILFM is now the UK’s leading education authority and membership body for legal finance, administration and practice management professionals.
ILFM has over 30 years' experience serving the legal profession and assists over 2,500 members every year. During this time, the ILFM has developed and expanded to embrace all aspects of legal practice. Whilst its foundation remains solidly in legal accounting, many of its members have more diverse roles which sees them taking responsibility for practice management, human resources, IT and regulatory issues.
Today, ILFM's members range from billing clerks and finance directors to legal cashiers and managing partners. Many of its members are also the appointed COFA (Compliance Officer for Finance & Administration) or are instrumental in supporting this new role.