Is the SRA behind higher audiences at Law Society seminars on file auditing?
Added: (Mon Feb 19 2007)
Pressbox (Press Release) -
The Law Society has been promoting a series of seminars throughout the country to raise awareness of file auditing and position it as a key management tool for Firms. Never the sexiest item on the agenda, historically many have even questioned the benefit in committing time and resources to developing or augmenting in-house file auditing teams. But this year, attendances are up.
It seems that the growing numbers could be driven by concerns surrounding the possibility of increased and, some might argue, intrusive powers that may be bestowed on the Solicitors Regulation Authority (SRA) established in January 2007 and previously called the Law Society Regulation Board.
The Law Society file auditing seminars, now in their second year, are presented by Professor Martin Read, and he concurs. “The seminars position file auditing as a way to control every aspect of risk by improved compliance” says Professor Read, and he goes on “but they also show a clear link between file auditing and increasing the productivity and effectiveness of all fee earners to the level of the best performing Partner”.
Given the SRA’s stated purpose is to protect the public by ensuring that solicitors meet the highest standards and by acting when risks are identified, the feedback of two Partners attending recent seminars was unsurprising “I should have brought all my fee earners” commented one: “It was very uncomfortable but very useful” added the other.
Professor Read, who is a director of Chester based Distinctive Partnerships Limited, has spent eight years developing file auditing techniques which can be easily adapted to the specific customs and practices of any Firm. At the seminars, Firms are discovering that through coaching and training in file auditing techniques, they can not only prepare for any new statutory requirements, but develop a key management tool that also impacts positively on overall profitability. Details of the seminars can be found at www.lawsociety.org.uk/documents/downloads/dynamic/filereviewing2007.pdf or at www.distinctivepartnerships.com .