In this video, Legal Week editor Georgina Stanley talks to Giles Murphy, head of professional practices at Smith & Williamson, about the insight that can be gained on the financial performance of the UK's largest law firms, based on a closer analysis of the information in their LLP accounts.

Subjects discussed include:

- The key measures law firms should be trying to benchmark themselves against; - How firms are getting more out of their staff; - The huge amounts of annual income sitting as unpaid invoices; and - The prospects for the next 12 months.