The research found that GCs are now attempting to pre-empt disputes and regulatory issues their company may face. However, many also claimed their legal departments are still seen as a last-stop by non-lawyer colleagues. A third of respondents mentioned the term ‘necessary evil’ when asked how their departments are viewed.
Complexity risk
The researchers surveyed 320 GCs across 32 countries, revealing that 67 per cent had become more involved with business decisions than they were five years ago, while 80 per cent said early involvement can pre-empt potential legal issues.
More than 90 per cent of those interviewed said the increase in regulations as well as their complexity posed the greatest risk to their companies. Nearly 70 per cent added that their corporations provide training on legislative developments to help anticipate problems.
‘In many of our clients, it is the role of the internal audit and compliance functions to confirm that the policy put in place at the behest of the general counsel has actually been implemented,’ said Richard Girgenti, a lawyer researcher at KPMG. ‘It is important that these functions speak a common language on corporate compliance.’
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