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Addressing the Overlap Between AdTech and Third-Party Risk Management
Third-party risk management is one of the leading areas of compliance risk. Nearly two-thirds of senior compliance executives believe third parties present their greatest risk, regardless of industry, company size or compliance maturity.
In parallel, several significant and multifaceted challenges are emerging with U.S. and global privacy laws. These include the complexity of third-party ecosystems, evolving regulations and data privacy. While these are significant challenges, they are also opportunities to uncover blind spots in company programs.
Being proactive in corporate risk management is essential, especially with third parties. Often, vendors, suppliers and data brokers are being leveraged throughout an organization, so it is critical to bring third-party risk management (TPRM) processes and programs together, ensuring all are consistent and coordinated. To gauge the level of risk and uncover potential gaps, compliance and privacy leaders should collaborate to consider how often they are monitoring third parties, what intelligence they are gathering with and about their partners and vendors, and whether their risk management practices have been diminished due to cost and resource constraints.
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Top 5 Strategies for Managing the End-of-Year Collections Frenzy
End of year collections are crucial for law firms because they allow them to maximize their revenue for the year, impacting profitability, partner distributions and bonus calculations by ensuring outstanding invoices are paid before the year closes, which is especially important for meeting financial targets and managing cash flow throughout the firm.
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Sink or Swim: The Evolving State of Law Firm Administrative Support
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Tax Treatment of Judgments and Settlements
Counsel should include in its analysis of a case the taxability of the anticipated and sought after damages as the tax effect could be substantial.