The Risk & Compliance System allows for audit data to be reported on, so trends can be spotted and evidenced internally.
The ability to report on corrective actions relating to files allows heads of departments and those in practice management to monitor the performance of fee earners and spot trends in process failures.
Navigate to the Reporting Drop-Down Menu on the System Home page and click Audits.
The first corrective action reporting resource can be found in chart section at the top of the Audits Dashboard.
The Department chart shows the number of audits completed by each department internally and, of those completed, the number that required corrective action. Click the downward facing arrow to expand the chart to show the table of results.
If there is a proportionally high number of files requiring corrective action compared to the number of overall audits completed, it indicates areas of the firm that may need to be reviewed in relation to internal processes and training.
Scrolling down the page, the automated report for corrective actions can be located.
This report has its own dedicated reporting filters for the reporting period. Once the date range has been selected, click either Download as PDF or Download as XLSX to export the report as an Excel spreadsheet.
This report provides a summary of the audits in the system that required corrective action, giving a more comprehensive analysis of the individuals involved in the audit, and the details of the corrective actions. This makes the report especially useful for spotting trends, both for individuals who may be responsible for failing to comply with certain processes, as well as examples of the process failures themselves.
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