DAC Beachcroft has published its annual Risk Register, focusing on ESG (environmental, social and governance) and its implications for professional services firms
It notes that ‘ESG is such a rapidly moving field at the moment that competitive advantage could quickly be lost’.
World events, including the Ukraine war, have forced firms to focus on governance, while lawyers and accountants are at risk of professional indemnity claims should they fail to advise clients on the ESG aspects of their business.
From ‘greenwashing’ accusations to whistleblowing claims of poor working practices, ‘it’s a testing landscape, and one where reputations which have taken generations to build can be damaged overnight’.
Read the Risk Register here.
