Have you identified and addressed all compliance risks your firm faces? Are you monitoring them properly?
Legal Compliance is the conformation and compliancy by a law firm of the requirements of accepted practices, legislation, prescribed rules and regulations, specified standards, the terms of contract and internal policies for the benefit of the clients they serve and in the general public interest. Lawyers and paralegals who fail to meet these standards are subject to the Law Society/Bar Associations complaints and regulatory processes.
The changing nature of the legal services has not only resulted in considerable challenges for practitioners but also challenges for those that are responsible for regulating the legal profession.
Query Point Compliance services are focused on helping law firms meet their practice management and financial reporting requirements. Our services link our competencies in Practice and Finance Management, to support the full spectrum of compliance needs.
We ensure that systems and controls are in place to enable the firm, as well as its managers and employees to comply with their obligations. These obligations include but do not relate:
- any terms and conditions under which the firm is authorized by the Law Society/Bar Association to provide legal services.
- any other relevant legislation, regulations and rules that apply to the firm, its managers or employees.
Query Point also takes all reasonable steps to ensure compliance with any other statutory obligations.
We record all failures to comply and inform the Managing Lawyers and other relevant staff of the failure to comply. We design and implement an internal compliance failure reporting process and maintain a central database of all compliance failures. Our consultants constantly monitor these failures to comply, and initiate preventive measures. We also make the necessary adjustments to rectify the workflow and prevent any future compliance failures.
New systems and processes will only add value if everyone within the firm is aware of them. We, at Query Point usually incorporate new processes into the Office Manual for review and implementation by all related to the law firm including new-starters and temporary employees. However, written processes will only add value if everyone follows them. It is important to ensure new employees are made aware of the processes and these processes are followed by everyone in the law firm them.
Compliance is an ever changing environment and there is a lot of work involved to get everyone trained on new procedures and to ensure all documents, processes and procedures are compliant. Query Point provides training, monitoring and evaluation services to ensure complete compliance.