Review scope & ongoing control
The File Risk & Revenue Exposure Review establishes the firm's current position based on how files are recorded.
It determines whether that position can be demonstrated when tested.
The outcome is determined by what is recorded on the file.
This identifies where legal exposure exists and where financial loss is already occurring across live matters.
This is not a future risk. This is the current file position within the firm.
This is a firm-level assessment. It is not undertaken to attribute accountability to individual fee earners, teams, or specific files.
Initial Review
The review is carried out across a defined sample of files and reported at firm level.
This establishes whether advice can be demonstrated, decisions can be supported, and risks are identified on the file.
If any of these elements are not present, the position cannot be defended.
The review sits within the following range based on file sample and scope:
£5,000 – £10,000
Where revenue exposure is included, the scope extends to quantifying financial impact across those files, including:
- unrecovered time
- reduced fees
- matters settled below value
This establishes the firm's position across the files reviewed.
Firm-Level Impact
The position identified within the sample is not isolated.
It reflects how files are currently recorded and progressed across the firm.
Where this position exists, it extends across live matters.
Financial exposure is not limited to the files reviewed.
This exposure increases with every file progressing in this position.
It compounds across the firm over time.
Ongoing File Risk & Revenue Control
This position cannot be corrected retrospectively.
It must be managed as files continue to progress.
Ongoing control is required to:
- maintain a defensible file position
- identify and manage risk as matters develop
- reduce ongoing revenue leakage
- establish a consistent standard across departments and across the firm
Without this, non-defensible files will continue to progress and the firm will continue to carry the outcome.
Monthly Engagement
Ongoing review and control is implemented on a monthly basis across live files.
This ensures that the position is maintained and does not continue to deteriorate as matters progress.
The monthly engagement is structured based on file volume and scope across the firm and typically sits within:
This establishes a controlled and consistent approach to how files are recorded and progressed, managing both legal exposure and financial performance across the firm.
Next Step
You do not know which of your current files would withstand scrutiny.
This position exists across live matters.
This requires immediate application across current files.