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Risk management within law firms is a rapidly developing area. In
the last year economic changes alone (the term 'credit crunch' was
as yet unheard of when the second edition was written) have served
to highlight the need for your risk management strategy to be under
constant review. The credit crunch raises the game for all firms
substantially, bringing to the fore issues involving: People;
Clients; Regulatory risk; and Insurance. This report, substantially
increased in size to deal with the emerging issues, aims to give
you a clear understanding of how they will affect your law firm and
how you need to respond, in order to manage them effectively. The
third edition covers: Solicitors Regulation Authority (SRA)
monitoring and enforcement of the Solicitor's Code of Conduct 2007;
The Legal Services Act 2007 and the risks it presents; and A review
of compliance with the Money Laundering Regulations 2007 - a year
after their implementation on 15 December 2007. The report guides
you through the distinct requirements of a risk management system
including: Responsibility at senior management level; A framework
for managing risk across all parts of the business; Integration of
risk management processes into firm culture; Accountability in each
practice area and support function; A risk evaluation process;
External assessment; and Business continuity planning. Subjects
covered include: Credit crunch risks; People and culture issues;
Client engagement; Finance; Protecting partner assets; Compliance;
File auditing; Managing your insurance; Office systems; Location
and premises issues; Professional indemnity insurance; And more -
Risk Management for Law Firms, 3rd Edition provides an in-depth
analysis of key risk areas within the firm and aims to help firms
meet new and emerging challenges with clear, practical examples.
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