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Telephone: +44 (0) 191 516 6919

Lexcel v4.1 and the SRA training programme

WHERE? Business & Innovation Centre, Sunderland Enterprise Park, SR5 2TA

WHEN? Wednesday 20th April 2011, 9am - 5pm

AIM

In the morning, you will be introduced to the revised Lexcel Standard, version 4.1. The standard has been revised to maximise consistency and incorporate new essential requirements while remaining relevant to all legal practices.

It is also intended to update accredited practices and legal departments on the revised version. Links will be established between the application of Lexcel and the management of risk.

In the afternoon, you will examine what the SRA looks for when it visits a firm, and provides a refresher on the key Practice Rules that are the focus of SRA visits.

OBJECTIVES

At the end of the first part of the programme, participants will have:

  • a sound basic knowledge of the revised version of the Standard;
  • a clear idea of where their organisation 'stands' against it;
  • the basis of an action plan to achieve the Standard or prepare for the next annual maintenance or reassessment visit;
  • knowledge of how Lexcel links to the management of risk.

At the end of the second part of the programme participants will have:

  • knowledge of some key issues that are examined by the SRA;
  • a checklist to use in preparation for an SRA visit;
  • a 'refreshed' insight to some of the key Practice Rules targeted by the SRA;
  • an update on the 'Outcome Based Regulation' that is to be introduced in 2011.

CONTENT

Part 1 - 3 CPD points

  • Risk and Lexcel
  • The structure of Lexcel version 4.1
  • Common 'difficult areas' of implementation
  • An overview of the assessment process

Part 2 - 3 CPD points

  • How does the SRA choose its visits?
  • What is it looking for?
  • Extracts from reports under common themes
  • Focus on the Practice Rules that are the main focus for SRA visits
  • The current situation regarding 'Outcome Based Regulation'

TARGET AUDIENCE

Senior members of practices or departments to whom any or all of the statements below apply.

  • Has or are likely to have a key role in the implementation of Lexcel
  • Will have to make or contribute to the decision as to whether or not to introduce and implement Lexcel
  • Has or will have a responsibility for risk management
  • Has not yet been visited by the SRA
  • Feels the need to refresh their knowledge of key Practice Rules
  • Wishes to be updated on 'Outcome Based Regulation'

BACKGROUND

The management of risk is a topic that is steadily moving up the agendas of law firms, something that has been hastened by the introduction three years ago of SCC Rule 5 that now requires firms to have a risk management framework. Risk is seen as being so important that the Law Society has recently introduced a Risk and Compliance service to its members.

Although seen by many as simply a quality standard, Lexcel is much more than that; it is a business and risk management framework that if used effectively can provide firms with the tools that they need to manage their business and the risks that they face. There are many firms that would testify to this fact as indicated by the following comments that have been made by senior members of accredited firms.

"Lexcel certainly helped me to get through some difficult times. The fact that I had the structure gave me confidence that things were being checked. I felt that I had my finger on the button."

"Lexcel has made a tremendous difference to us."

No-one will pretend that it is easy but, like anything worthwhile, the benefits far outweigh the efforts.

Lexcel does not guarantee a firewall against the SRA, but there is a mountain of evidence to suggest that it greatly helps, and that the SRA are 'pleased to see' when firms have the Standard.

Visits from the SRA are also high on firms' agendas. What are they looking for? How can you prepare? The second part of this programme gives a clear idea of what to expect from an SRA visit, and highlights areas that firms can prepare in anticipation of a visit. It will also examine the current thinking in relation to 'Outcome Based Regulation' that is to be introduced in 2011.

HOW TO BOOK

Booking now closed.