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Legal Audit


Overview

In a legal audit, the company's management team meets with corporate counsel in order to discuss strategic plans and objectives, review key documents and records, and analyze and identify current and projected legal needs of the company. The legal audit also lays the groundwork for the establishment of an ongoing legal compliance and prevention program in order to ensure that the company's goals, structure and ongoing operations are consistent with the latest developments in business and corporate law. Finally, the legal audit helps managers identify the legal issues triggered by changes in strategies, goals or objectives and allows planning for the legal tasks that must be accomplished as a result of the issues identified.

 Legal auditors conduct a detailed analysis of original time records, attorney work production, expenses and hourly rate benchmarks. The purpose of a legal bill auditing is to save money for the company and their clients. Many audits measure performance and quality of services in addition to cost alone. Legal Bill Auditors may be responsible for monitoring the matter as it progresses for purposes of giving a second opinion in major cases or as a post-mortem. Legal bill audits give companies and their clients peace of mind and avoid possible future mistakes.

The benefits of Legal Audit are mentioned below:

  1. Failure to obtain all proper permits and licenses could lead to fines, penalties, and, in some cases, even closure of the business by governmental agencies.
  2. It saves money of the company involved.
  3. Company’s accounts are scrutinized for wrongful legal billing.
  4. It ensures that the company’s goals, structure and operations are consistent with the latest developments in business and corporate law.
  5. It helps identify legal issues and allows planning for legal tasks that must be accomplished as a result of issues identified.
  6. Failure by the directors of the company to keep accurate records and minutes of its decision-making procedures could subject the company and its board to liability to its shareholders and investors.

Procedure

Procedure for Legal Audit

Frequently Asked Questions

What does legal audit include?

The Legal audit includes the following:

  • Vetting and Analysis of documents, agreements, and material contracts.
  • Analyzing issues relating to Human Resources
  • Analyzing issues relating to Properties which includes title searches.
  • Analyzing issues relating to Intellectual property.
  • Analyzing issues relating to Litigation.

Who conducts legal audit?

Legal audit is conducted by experienced lawyers who have thorough knowledge of the law.

What is the risk of not conducting legal audit?

Failure to obtain all proper permits and licenses could lead to fines, penalties, and, in some cases, even closure of the business by governmental agencies. 

How long does Sabkuch Legal take to perform legal audit?

We try our best to complete your task in the shortest possible time.

Why Choose Us

Why Choose us for Legal Audit

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