General Counsel Survey 2012
Deloitte Forensic in the UK partnered with Legal Week Intelligence to conduct a survey that considers the increasing significance that companies are now attaching to risk and compliance. The survey includes feedback in the drivers for this trend and the practical steps companies are taking to effectively manage this issue.
The survey results reflect the widely-held view that the main factors driving the risk and compliance agenda are the increasing volume and complexity of regulatory and legal obligations as well as continued expansion into emerging markets. Over 70% of respondents indicated that regulatory and legal risks are frequently discussed at board meetings. In light of this it was somewhat surprising that less than half the respondents had in place a documented incident response plan.
Further findings included:
- 47% of respondents have regular internal risk audits while 13% have regular external risk audits
- 36% of respondents have a board level risk committee
- 38% of respondents have a regulatory and legal risk register
- 55% of respondents have increased their legal and compliance headcount
- 44% of respondents expect the GC to take responsibility for internal investigations