West London Solicitors

What is an audit ?

An audit typically involves a third party analysing a company’s financial, operational and legal behaviour. This helps our solicitors to give tailored advice on how to improve certain areas and cut out inefficient or potentially inefficient practices and risky areas of practice.

What is a Business Legal Audit ?

This gives a snapshot of your company. Once financial and operational statements are rounded up this will help guide our commercial solicitors on the next direction your company should take.

How can a business audit benefit my company ?

Business owners and directors can use audits to monitor their employees to ensure they follow stipulated methods of behaviour and guidelines. You will be able to remedy any activity that looks suspicious or is detrimental to the company’s well-being. They can also provide potential and actual investors with information relating to the day-to-day activities of the company and demonstrate that the company is being run efficiently and within the norms of legal rules.

What is a legal audit ?

A legal audit is an audit which specifically looks at those areas of the business which are materially touched by UK or international legislation and to see how those areas are complying with the law. Such areas can be anything from how your company deals with employees to terms and conditions of business.

How will a legal audit benefit my business ?

A legal audit will make your business run more efficiently and within UK laws. This should ultimately provide you with long-term cost savings as it will help your business to avoid penalties which may be taking place through inadvertent legal breaches and disputes with customers, suppliers or regulatory authorities.

The legal audit review will take place every year to ensure you are legally compliant and are keeping up-to-date with the law.

The audit includes seminars which will be presented to staff to ensure breaches are kept to a minimum.

What is the general process of a legal audit ?

West London solicitors will perform assessment reviews to immerse itself in as much relevant information as possible. This will involve consulting members of staff and inspecting the how the business is run on a day-to-day basis.

The gathered information will be used to highlight risks and cut costs as well as enabling the exploitation of opportunities to enhance profits.

How often should a legal audit be conducted ?

Many companies who understand the benefits of legal audits conduct yearly audits and treat them as company health-checks.

What other areas of my business can legal audits analyse?

Businesses can use legal audits to analyse operational activities which avoids the costs and hassle of conducting two different surveys.

These surveys are particularly useful if wanting to address or uncover conflicts of business or unlawful trading taking place.