Managing risk has become one of the greatest challenges for the professional services sector in recent years. Changing regulations, a more litigious culture and an onslaught of cyber crime have all thrown up new, complicated issues to deal with.
This section aims to provide professional service businesses with the latest news and expert advice, helping them to achieve a greater understanding of the professional services risk management process, risk management strategies and risk mitigation strategies.
The information in this area applies to all professional services from solicitors and accountants to IT service companies and financial advisers, to surveyors and architects.
Health and safety is one of the biggest concerns facing every professional services firm, and ensuring compliance with current regulations is a hot topic.
There is sector-specific regulation to consider. For example, those operating in the built environment now have the new Building Safety Bill to comply with. However, there are some areas of compliance that every professional service business is having to deal with, including staying ahead of cyber crime and protecting clients’ personal data in line with current data regulations, and general health and safety obligations.
Supporting a Strong Future for Professional Services
The new work from home culture further compounds these security and health and safety concerns as employees are increasingly operating remotely without the safety blanket of the managed office environment.
Understanding these, and the other risks, your business faces is the first step in the risk management process. Mitigating the risks with a successful strategy will help secure a more prosperous future for the professional services industry as a whole.
