By Rob Starr, Content Manager, Big4.com
A new report by KPMG, conducted by global research agency Meridien West, interviewed General Counsel from 32 countries who gave their views on a wide range of issues, from relationships with the Board to the risk and regulatory challenges ahead and managing future disputes. It found that companies around the world are threatened by a growing tide of regulation.
“The spread of new technology and concerns surrounding data security and protection are growing risks for all organizations but for those in the hi-tech sector the global speed of change brings particular challenges,” said David Eastwood, Global Head of KPMG’s Contract Compliance Services. ” I was very surprised that even in the technology sector, less than one-third of General Counsel see new technology as a strong risk. The survey showed that today’s General Counsel must now keep pace with technology and other changes to anticipate and mitigate the risk of new disputes and regulatory issues in the future.”
This shift in role to forward-looking commercial consultant has not been without its issues for General Counsel. According to the survey around two thirds of General Counsel are now more involved in business decisions than they were 5 years ago, a very significant move forward.