As the deadline of 31st July for the nominations to the SRA for both a Compliance Officer for Legal Practice (COLP) and Compliance Officer for Finance and Administration (COFA) draws closer, the legal software provider Quill Pinpoint has announced a partnership with Lawclient Ltd to help practices to prepare for the new compliance challenges.
Lawclient Ltd are compliance specialists, whose cloud-based Office Procedures Manual (OPM) is designed to assist with mandatory COLP and COFA compliance responsibilities specifically and SRA regulatory requirements generally.
The SRA is urging legal practices to develop a firm-wide culture of compliance, with a clear focus on delivery of the regulatory outcomes. The OPM can support law firms with their new risk, compliance management and reporting obligations using features such as links to documentation or websites and in-built FAQs. The OPM is provided in a fully customisable format to allow for personalised working.
Paul Wilkinson, Managing Director at Lawclient Ltd commented:
“(The) OPM is the only manual to mirror the exact structure of the SRA Handbook, a format which all law firms are now familiar (with), or should be, so that individuals are never more than two clicks away from locating the information they need for their Compliance Officer roles.
“As the nomination deadline is just a few weeks away, we’re partnering with Quill Pinpoint to introduce the benefits of the OPM to their clients. It’s a matter of critical importance that firms carefully choose their Compliance Officers and introduce systems for managing the responsibilities associated with their roles by the end of July.”
John Donigan, Head of Sales and Marketing at Quill Pinpoint said that the partnership with Lawclient Ltd and launch of the OPM to their customer base would introduce time and financial savings. He added that:
“Users can effortlessly navigate from policies to procedures, indicative behaviours, reference sources and provide evidence of compliance, thus reducing concerns about adhering to regulatory guidelines and quality standards. The OPM is an innovative system, driven by compliance experts, from which all practices can gain valuable assistance at excellent value for money”.
As the deadline for firms to nominate their compliance officers approaches, firms should also give some thought to what software will be a best fit for their operation, to achieve best practice within the new regulatory regime.
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