Law Department Management Blog
An interview in Met. Corp. Counsel, Vol. 14, Oct. 2006 at 35, refers to this survey. Alex Brigham, the president and CEO of Corpedia and the person interviewed, does not give any background information about the survey but does mention three metrics from it. It found that 65 percent of all organizations conduct periodic legal compliance risk assessments. When those companies identify a risk, nearly 80% of them rank the risk for likelihood and severity – “of which 44% quantify risk in each relevant risk area.”
The third insight from the survey is that 45 percent of the respondents conduct their risk assessments entirely in-house, while the remainder uses an outside adviser such as a consultant or a law firm (See my post of July 5, 2006 about online compliance training software; and Dec. 22, 2005 for other results from Corpedia and possibly the same survey.).