Corporate legal departments have a heightened focus on risk after the coronavirus pandemic.
Corporate legal departments have changed tack after the coronavirus pandemic and now put more emphasis on risk management and preventing litigation than keeping a lid on their spending.
The results are contained in a special section of its latest Peer Monitor report and follow surveys of 102 buyers of legal services in Australia across 2022. They list includes major players such as BlueScope Steel, Fortescue, Alinta Energy and Nine Entertainment, publisher ofIn 2019, the main focus was on improving efficiency and streamlining processes, with one in four respondents saying that was a priority. However, that figure fell to 18 per cent in 2022.
Compliance and regulatory work, which ramped up with the Banking Royal Commission, was the only other notable mover – to 18 per cent from 15 per cent.
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