What Is “Legal Audit”?

Jural analytics involves variety directions, part of them having no pragmatic application for commercial purposes – they are certainly important, but their value resides in academic and practical directionality for lawmaking (legislating) causes.

Direction which gained a considerable momentum in last years and took a reasonable place in consulting companies` activity is legal audit.

Demand for providing such a checkup is determined by reasons equal to necessity in accountant`s audit, videlicet: company authorities` need in appraisement the real state of business (matters) in the field of company`s legal assistance and activity efficiency of jurisconsults. It` not always enough to provide own jurists` attestation as far as such inspection is aimed at appraisal of jurisconsults themselves as well as (or) summing-up what is the extent of their particular assignment considerations, however activity effectiveness and operating qualities are left behind. It`s possible that your personnel is highly expertise nevertheless applying minimum knowledge and vigour in the business workings either they are restricted from efficient acting so the unsatisfactory results of their activity are not their fault. Namely for the purpose of estimating the functional efficiency and business utility, not personnel, it`s necessary to apprehend the activity results (resume).

During the legal audit conducting there are checked out documents/acts/embodied facts – this way the subjectivism is cut `to a minimum` and, how banally it may sound: “when the facts speak, the gods are silent”.

Such checkup is aimed at non-personnel appraisal but inspecting:

  • The way the constitutional documents are established as well as the frame of documents determinating the organizational structure,
  • The way the transaction activity is arranged and what are the quality and particularities of the contracts concluded,
  • The way the juridically relevant document flow of the company is organized,
  • The way the personnel employment and staff records are formalized,
  • What is the status of registration of rights to tangible and intangible assets and many others…

Example №1 : legal auditing the contract system in the company – includes research of:

  • The network of corporate document flow related to transactions
  • The network of corporate record-keeping and archiving contracts and contract accompanying correspondence;
  • Transaction regimentation;
  • Negotiating and concluding contracts;
  • - The content and the form of contracts (blanket breadth, omissions, errors, corporate rights warranties, guaranteeing the corporate rights, expedience and profitableness of contracts)

In resume – the reasons for

  • Generating debtor indebtedness,
  • Non-fulfillment of contractual obligations,
  • Nonrecognition of contractual performance by revenue and judicial authorities.

Example №2 : legal auditing the jural frame of the company – includes research and appraisal of:

  • Constitutional and organizational documents,
  • Contract system,
  • Labour law relations network,
  • Executive acts,
  • Regulating and documenting relations among companies within particular financial-industrial group,
  • Diversification of transactions/relations/production,
  • Outsourcing and out-staffing,
  • Distribution of tangible assets and liquidity of intangible assets.

The signification of the legal audit resides in apprehension of that how the organization is framed and functions in point of the jurisprudence; in what way and to what extent are guaranteed corporate legal concerns into the legal turnover and subsequently detecting the vulnerable spots in the structure. Even if such tasks were presented to the jurists, it`s necessary to gain an alternative independent view in order to form an amplified opinion. In this case only, you can obtain an objective apprehension of the existing and the potential threats and the measures for their elimination, either realize if the executives will singly cope with problems or it`s time to engage an expert assistance (personnel, legal, financial and strategic ones).  

Welcome to the site of

 

DESITI VERUM Ltd. -

 

a legal agency specialized in analytics, consulting and international law.

 

 

We are not proposing ready-made solutions:
we are purposing non-standard approach to a common-problem resolving.

 

Agency activity is based on certain principles of :

  • thorough researching of clients request in order to apprehend the core of the subject;
  • defining in posse means of solving the problem and deciding optimal solutions with regard to concrete circumstances;
  • individual approaching to the form of resulting document/solution/strategies providing clients expectations.

Distinguishing characteristics of the DESITI VERUM Ltd. Legal Agency are particular, qualitative and integrated approach for defining solutions and models due to narrow firm specialization, high experts qualifications and non-mass legal services.

The DESITI VERUM Ltd. corporate purpose is to objectify long-term and diverse juridical experience in the field of first-grade quality legal services.