Deloitte Global General Counsel Report 2011
How the game is changing
This global survey of almost 900 private and public sector heads of legal across 10 countries, shows general counsels’ roles and responsibilities are evolving significantly. The 2011 report presents key findings in areas such as the increasing importance of the role of general counsel in the eyes of their organisation’s senior management and their increasing influence over external advisers. The report highlights the growing responsibilities that general counsel have, particularly in terms of dealing with regulators, managing legal risk and handling the increasing volume of electronically stored information in their organisations.
- Globally, the top three ways counsel demonstrated value were the achievement of timely resolution of legal problems, reducing legal risk and cost effectively resolving problems.
- Eighty two percent of respondents said it was likely that members of their organisation’s senior management team would consult them in the first instance if a serious legal or regulatory risk arose.
- Both globally and here in the UK, respondents rated their need to maintain regulatory compliance as the greatest legal risk facing their organisations – unchanged from five years ago.
- Eighty percent of respondents globally reported greater activity among regulators during the past five years with ‘conducting investigations’ cited most often as the focus of this activity.
- UK respondents perceived bribery and corruption – along with breaches of competition and anti-trust law – to be the regulators’ primary concerns in this country.
- Forty two percent of UK general counsel said they were outsourcing less work than they did five years ago.
- Globally, 80 percent of companies of all sizes now have a policy on the management and retention of electronic records, up from 43 percent five years ago. In the UK, the figure has jumped from 36 percent five years ago to 81 percent.
- Seventy five percent of UK respondents said they faced challenges during the past five years whenever they had attempted to gather, sort and preserve information related to litigation matters.