Sunday, May 24, 2009

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Saturday, May 23, 2009

2009 Law Firm Risk Management Survey Published

2009 Law Firm Risk Management Survey Report Highlights Current Industry Practices and Priorities. Sponsored by IntApp and Conducted Through the Risk Roundtable Initiative, the Survey Report Presents Findings Collected from over 100 Law Firms.

Key Findings of the Survey Report:
  • Top law firm risk concerns include business intake, regulatory compliance and confidentiality protection.
  • Nearly two-thirds of firms vest ultimate responsibility for risk management with a single individual, while others rely on committee-based or decentralized approaches.
  • The majority of firms have documented risk management policies. However, most firms do not centrally store and manage their written policies.
  • One-third of firms perform formal internal risk audits to confirm compliance with internal policies and standards.
  • Clients are increasingly raising concerns about the steps firms take to ensure the confidentiality of sensitive business information. Nearly all firms have been asked by clients to restrict and track internal firm access to sensitive information.

 For more information, see http://www.riskroundtable.com/.