An inside look at legal entity management practices has been saved
An inside look at legal entity management practices
Highlighting governance challenges for legal entities
The Association of Corporate Counsel (ACC), in collaboration with Deloitte Tax LLP, have conducted an in-depth study of 520 organizations. The aim of An Inside Look at Legal Entity Management Practices is to gain a better understanding of current corporate legal entity management (LEM) structures, practices, and expectations.
The demand to satisfy obligations across multiple jurisdictions and meet the new standards of transparency on a global scale is rising. This is causing a reevaluation of operating models and legal entity governance structures. The purpose of this survey report is to improve understanding of existing team structures, procedures, and practices that organizations have in place to manage complex compliance and regulatory obligations.
Key survey findings
The survey results make clear that most respondents face extensive legal entity management (LEM) challenges, reinforcing the need to better understand LEM leading practices. Five key findings:
Learn more about Deloitte’s Legal Entity Management Services
An outdated and inefficient legal entity management process may create needless costs and risks, including potential instances of noncompliance. Deloitte's Legal Entity Management* (LEM) services can provide increased transparency into legal entity governance and reduce cost, all in an effort to make your legal ecosystem more efficient and effective. We are powered by an integrated workflow, data, and document management technology platform providing high visibility into engagement management workflows and real-time analytics.
*The Deloitte US firms do not practice law or provide legal advice
Impact on mergers and acquisitions and subsidiary management
Entity compliance and governance checks help reduce risks