Australian Corporate Lawyer - Autumn 2018

theAustraliancorporatelawyer
ACC GLOBAL UPDATE
ACC Chief Legal Officers (CLO) 2018
Survey Finds Geopolitical Change and
Regulatory Climate Driving Age of the
Chief Legal Officer
Regulatory or government changes are the
most concerning issue keeping CLOs and
general counsel up at night around the world.
The proportion of CLOs who rank “proactively
addressing legal and regulatory trends” as a top
area where they add value has increased by 38%
since 2013, the Association of Corporate Counsel
(ACC) CLO 2018 Survey reported.
Taking the pulse of more than 1275 CLOs and
GCs in 48 countries, the survey spotlighted
how the professional stature and influence
of the CLO’s position has grown in light of
the prevalence of geopolitical events and
heightened regulatory landscape. The CLO
reporting structure is an important indicator of
influence on the company and the CLO’s role in
creating a corporate culture that reinforces ethics
and integrity.
Among CLOs who report directly to the CEO,
61% work with the CEO, executive team, and
board of directors on strategic initiatives—nearly
double the percentage of those who do not
report to the CEO. Sixty-five per cent of CLOs
who report to the CEO stated the executive
team “almost always” seeks their input on
business decisions, and 81% regularly attend
board meetings, signifying a greater likelihood
that business plans take into account legal and
regulatory risks.
Other notable findings in the ACC CLO 2018
Survey include:
••
Data breaches and the protection of corporate
data is the fastest growing area of concern,
as 36% of those surveyed rated it extremely
important in the year ahead, compared with
19% in 2014. Respondents in the United
States, Canada, and the Asia-Pacific region
were more likely to report that a patent troll
targeted their company.
••
The majority of CLOs globally (56%) expect an
increase to their department’s overall budget,
compared with 43% last year.
ACC Legal Operations Launches
Maturity Model, Toolkit and
Webinar Series
Consisting of 14 different areas, the ACC Legal
Operations Maturity Model, Toolkit and Webinar
Series provides law department leaders with the
ability to benchmark maturity, gain alignment
on department priorities and enhance the
operations of a legal department.
The new reference tool further supports the
advancement of the legal function by helping inhouse
counsel and legal operations professionals
move from early to intermediate and advanced
stages in any of these key functions, such as
financial management, legal technology, vendor
management, knowledge management,
compliance, contract management and
information governance, among others.
ACC Legal Operations members are
collaborating on the foundational toolkit
with leading legal service providers, including
Consilio, Contoural, HBR Consulting, Integreon,
NAVEX Global, QuisLex, Thompson Hine and
UnitedLex. These tools will be presented in a
series of monthly webinars throughout the year,
led by seasoned legal operations professionals
who will offer real-life experiences on how
to implement improvements to the legal
department.
For more information on the ACC Legal
Operations Maturity Model, Toolkit and Webinar
Series, visit www.acc.com/maturity. a
REGISTRATIONS
NOW OPEN!
By in-house
counsel
for in-house
counsel. ®
a
Thursday 2 May 2018 | Crown, Perth
42 | VOLUME 29, ISSUE 1 – AUTUMN 2018