We provide advice on the analysis, evaluation and implementation of the risk management process.
In essence the objective of risk management is to anticipate and mitigate risks, which could have an impact on a business’s or project’s objectives. This process has been captured in AS/NZS ISO 31000:2009 Australian Standards on Risk Management.
We have advised on the application of the Standards across an extensive range of commercial decisions, and organisational scenarios and projects.
We understand that a strict application of the Standards does not always suit our clients’ business or specific objectives. As a result, we provide advice on and develop risk management plans which adapt the Standards, but are specific to our clients' individual business needs. We also ensure that the plans fit within our clients' organisational processes, as well as being compliant with all legal requirements.
We work across a broad spectrum of industries and our advice covers:
- the assessment and evaluation of risks
- recommended mitigation strategies including insurance implications
- assessment of legal liability
- the referral of risks to the appropriate government or regulatory agencies
We advise corporations and their directors and officers how to manage risk and meet the duties imposed on them.
We work with our clients to help them avoid liability and costly disputes, as well as acting to resolve disputes through litigation (where necessary) or by alternative dispute resolution methods.
Our services include:
- advice on corporate governance, including compliance with the Corporations Act, Trade Practices Act and ASX listing rules;
- advice on directors' duties and complying with disclosure requirements for corporations and their officers at a time when officers have a greater risk than ever for personal liability arising from the James Hardie decision and recent legislative developments;
- advice on risk management for corporations and their officers, assisting them to minimise liability in times of continued economic volatility and uncertainty in dealings with financiers, customers, suppliers and business partners;
- risk assessment and management for corporations and company directors and officers; and
- advice on AS/NZS ISO 31000:2009 Australian Standards on Risk Management, including the processes involved in the Standard and how to apply them in practice.
We are recognised in the industry as being the premier law firm in event risk management and our team has considerable experience providing risk and legal services to venue managers, sporting organisations and event managers.
Our expertise extends to providing both organisational risk advice and event-based risk advice. While we have particular expertise in the sports industry, our capabilities in this area are easily transferrable to other industries as well.
Our experience includes providing advice on risk management and contingencies as well as general legal advice to the organising committees and principal government agencies responsible for the delivery of each of the international events below.
1999 World Sailing Championships
2002 World Masters Games
2006 Volvo Ocean Race Melbourne Stopover
2007 World Swimming Championships
2009 Parliament of the World's Religions
2009 World Masters Games
2010 UCI Road Cycling World Championships
In each case, we established a risk management framework and then worked with our client to identify, assess and treat risks. Our advice also involved consulting with enforcement and regulatory bodies, such as Victoria Police and Parks Victoria with regard to emergency management plans.
For each event, we provided ongoing risk management support and advice so that at anytime during the preparation for, and, delivery of the event the risk management plans remained current. In every case, these events were delivered successfully and risks were managed effectively.
We regularly work with organisations on managing the specific risks relating to their businesses, in areas such as:
- intellectual property
Our experience includes undertaking risk management work for private businesses, not-for-profit organisations and both the Victorian and New South Wales government sport and recreation departments. Our work here has involved reviewing individual organisations and developing a risk profile for each to help them identify and manage the risks inherent in their respective businesses.
We also conduct risk management seminars for directors of government funded sporting organisations.
Client success story
We were appointed to draft and implement an entire business compliance program for a large multinational retailer. Our client had provided undertakings to the ACCC arising from an inadvertent breach of the Trade Practices Act (now the Competition and Consumer Act).
We recommended taking a "holistic" business approach, so that risks across the business were addressed, rather than simply implementing a compliance program to address the Trade Practices Act issues.
Using the process under the Australian standard for risk management, we worked closely with senior management to devise a program that was practical, avoided red tape, added efficiencies and value to business processes and complied with the undertakings given to the ACCC. The implementation was achieved ahead of schedule and satisfied the ACCC's requirements.
The compliance program included a compliance policy statement, compliance monitoring and customer complaints handling procedure. This has led to reduced risks in the business and for the Board, as well as creating greater customer satisfaction. The process is now an everyday part of our client's business.