This is one of the conclusion of the Washington DC-based Association of Corporate Counsel's 2013 research report 'Skills for the 21st Century General Counsel'. Asked the same question, 37% of directors agreed about the strategic input of GCs.
GCs outside the US are 30% more likely to see compliance as a top value driver than those in the US. Corporate directors rate compliance as one of the most essential parts of the GC's job.
Vera T Richardson, president of the association, said: 'When it comes to matters of compliance, boards of directors see the general counsel as a great ally. Recent legislation has placed board members under greater scrutiny, and directors now place higher value on the CLO’s counseling role and responsibility to ensure a culture of compliance.'
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