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Brexit risk management: contract audit—checklist [Archived]

Brexit risk management: contract audit—checklist [Archived] ARCHIVED: This Checklist has been archived and is not maintained. It provides guidance to assess the potential contractual risk to an individual business posed by Brexit, and how to carry out a Brexit risk management contract audit in preparation for Brexit in advance of IP completion day. For information on the impact of IP completion day on contracts and more generally on commercial law, see Practice Notes: What does IP completion day mean for contract clauses? and What does IP completion day mean for Commercial? This Checklist provides guidance on assessing the contractual risk to an individual business posed by Brexit, and how to carry out a Brexit risk management contract audit. It considers the need for a Brexit team, the issues arising in a business unit audit and in a contract audit and matters for contract review. For a more in-depth analysis, see Practice Note: Brexit—contract risk management [Archived]. For the purpose of this Checklist, unless expressly indicated otherwise, all references to: ...

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Workplace culture—SRA action list for law firms

Workplace culture—SRA action list for law firms The Solicitors Regulation Authority (SRA) has increasingly been focusing on issues around culture and wellbeing in the workplace. It has issued guidance on the risks of failing to protect and support colleagues in the workplace environment and conducted a thematic review of workplace culture. This Checklist brings together questions for law firms to ask themselves and suggested actions to take to improve their workplace culture, as identified and recommended by the SRA in its thematic review. For more information on wellbeing, see Practice Note: Protecting staff wellbeing in the workplace environment—law firms. Mental health and challenging stigma Questions to ask yourself Does your firm: • challenge stigma and raise awareness through initiatives such as wellbeing days? • train managers proactively to spot the signs of stress or burnout? • invite colleagues to train as mental health first aiders to support wellbeing? • hold regular one-to-one meetings to facilitate discussions about health and wellbeing? • use risk assessments to monitor risks including the work/clients...

Charities and the VAT treatment of specific activities

Charities and the VAT treatment of specific activities It is very difficult for charities to be entirely sure of their VAT position as the listings for zero rated and exempt supplies is extensive and confusing, with the Value Added Tax Act 1994 (VATA 1994) containing numerous schedules each divided into groups with the groups divided into items. Many of the items have detailed notes ('the devil is in the detail'). Areas of particular relevance to charities include: • specific items zero-rated for charities • education • subscriptions • donations and grants • admission charges • fundraising activities • conferences • aids for the handicapped Zero rated supplies Information on this subject is found in VATA 1994 Schedule 8 Group 15 which was primarily designed to allow charity shops to sell donated goods without having to charge standard rate VAT. The legislation applies to a number of situations but essentially to the sale by a charity of goods donated to it. Note that the goods must be...

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Legal risk register

Legal risk register Please click for the Precedent Legal risk register. Please note that this register has been prepared in Excel and it therefore cannot be downloaded to Word. For detailed guidance on how to complete a legal risk register, see Practice Note: How to create a legal risk register. However, key information is summarised here. What is a legal risk register? A legal risk register is a tool for collating and managing all your legal risk information in one place. To formulate an effective legal risk register, you must first identify the risks your organisation faces. It is also helpful to have an understanding of your organisation’s appetite for risk. The legal risk register then enables you to categorise each risk, score each risk and decide on mitigation actions. There are separate Precedents for a general risk register and for a privacy risk register—see Precedents: Risk register and Privacy risk register. Identifying risks To formulate an effective risk register, you must first identify the risks your...

Legal risk management—board report

Legal risk management—board report 1 Introduction 1.1 Date of report: [insert date] Date of last report: [insert date] Author of report: [insert name and role] 1.2 This report identifies key legal risks, arising from two main sources: 1.2.1 the operation of the legal team itself (narrow legal risks); 1.2.2 other business risks that have a legal component, eg litigation risk, transactional risk, breach of intellectual property rights or risks arising out of a change of law (broader legal risks). 1.3 For more in-depth analysis of [insert organisation’s name]’s legal risks, see Appendix 1 (Legal risk register) and Appendix 2 (Litigation register). 2 Legal operations This section reports on risks to the business arising out of the internal functioning of the legal department. The table below reflects the top [insert number, eg three] highest-rated legal operations risks currently recorded in the legal risk register at Appendix 1. Risk RAG rating Details Mitigation and status [Insert, eg Operational departments dabbling in their own legal work] [Insert, eg Red...

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Investment Association concerned over FCA’s VFM proposals

Law360: The Financial Conduct Authority's (FCA) proposed framework for determining pension scheme value could have 'significant consequences for customer outcomes' as currently set out, the Investment Association (IA) has warned.

Fresh warnings issued over FCA value-for-money rules

Law360: The Financial Conduct Authority (FCA)’s proposed new assessment of pension schemes' value is so complex it risks failing savers, trade body the Pensions and Lifetime Savings Association (PLSA) has warned.