Practice Management involves strategic, financial & marketing management
Why are lawyers often overlooked by clients in commercial transactions? Most clients are opting to handle their business transactions themselves without involving lawyers. The Clio Legal Trends Report 2018 points out that lawyers are often overlooked as a solution and spend time speaking to clients that never hire them. The report states further that in…
Third party risk management is currently an important topic for most corporate entities. Most corporate entities are carefully scrutinising their third party suppliers in order to minimise the risk exposure inherent in such relationships. This also applies to professional service providers, including, law firms. As a result of the current economic climate corporate entities are…
The answer is yes. Our recent post titled, ‘‘Is Your Law Firm FICA Compliant? Does it make business sense to comply?” received an overwhelming response from lawyers in private practice. Most of the queries raised related to the obligation to appoint a Compliance Officer imposed by the Financial Intelligence Centre Act, 2001 (‘’the Fic Act’’) on…
The Financial Intelligence Centre Act, 2001 (‘’the FIC Act’’) imposes compliance obligations on accountable institutions as part of measures for combatting money laundering and financing of terrorist and related activities. Attorneys or law firms are included on the list of 16 institutions in Schedule 1 of the FIC Act that are deemed to be accountable…
Start-up law firms fail as a result of various factors. In 2013, The Mail and Guardian‘s Thought Leader reported that 78 attorneys nationally were struck from the roll in 2012 (William Saunderson-Meyer ‘Just trust me I am a lawyer…’ www.thoughtleader.co.za, accessed 4-7-2016). Although these are unofficial statistics and it is not clear what offences were…
