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As the new millennium draws near, the business world is experiencing a number of radical changes on a global scale. Globalisation, information technology, increasing competitive pressures and changing international law have set the scene for a vastly changing business environment for the 21st century. The future prosperity of the accounting profession will depend on its ability to manage this change and to be prepared to adapt to capitalise on new opportunities. In particular, the Big‐5, with their immense size and resource pool, are well placed to respond to and take advantage of these changes in the global business environment. The impact of the response of the Big‐5 to the anticipated market parameters of the new millennium raises a number of interesting issues in terms of the impact they have on the various segments of both the accounting profession and the entire business community.

Entrepreneurs starting new ventures will encounter a host of legal issues requiring consultation with an attorney on an episodic or ongoing basis. It is critical that careful attention be given to the attorney selection process to properly match the needs of the company with the credentials of the attorney.Additionally, options should be explored regarding the billing and payment methodologies the attorney is willing to entertain. The financial resources and cash flow of young companies will likely have a direct impact on the financial agreements entered into with legal counsel. Further, companies desirous of offering the attorney a stake in the company as full or partial payment for legal services need to be mindful of ethical restrictions applicable to the lawyer, as well as exceptions to the lawyerʼs malpractice coverage arising from his or her role with the company

Nearly all legal firms and in‐house counsels will have to consider the opportunities and risks afforded by the rapidly changing legal process outsourcing (LPO) market, estimated to be worth $2.4bn globally, and growing rapidly. The purpose of this Industry Insight is to assess the current LPO provider landscape by analyzing data on 27 LPO providers.

The authors analyzed LPO provider data collected in 2011 by Orbys, a leading sourcing and transformation advisory firm based in Europe. The 27 providers in the sample include specialist LPO providers, full service LPO providers, and global BPO providers that offer LPO services. The authors assessed LPO provider services, provider competencies, geographic location, pricing, team composition, and staff turnover rates.

The LPO providers in the sample provide a variety of services, including litigation, intellectual property, corporate, compliance, procurement, employment, property, and consulting services. LPO providers allocated most of their human resources to litigation (26 percent), intellectual property (14 percent) and corporate/compliance (12 percent) services. LPO providers balance team composition – the percentage of onshore resources located close to the client versus offshore resources in low‐cost locations – to reduce client costs while still delivering quality services. The average team composition average was 22 percent of resources onshore and 78 percent of resources offshore, mostly in India. The authors also analyzed LPO prices by skill level and location. For example, the average daily rate for a fully qualified lawyer based in India was $248. LPO provider turnover rates ranged from 3 percent to 34 percent, with an average turnover of 15 percent.

This research on the LPO provider landscape helps to inform potential clients about LPO services and the global LPO landscape. The authors also identify three practices to help clients achieve success with LPO engagements. First, consider overall value, not just price. Second, mediate the effects of high LPO provider turnover. Third, assess and develop client‐retained capabilities, because outsourcing legal services is not about abdicating responsibility, but about learning to manage legal services in a different way.

Legal process outsourcing is the next evolution in the provision of services. Because the LPO market is less mature than the information technology outsourcing (ITO) and business process outsourcing (BPO) markets, very little research has been done on LPO in general or on LPO provider capabilities specifically. This Industry Insight helps to bridge the knowledge gap.

Reports on the Change and Convergence Workshop, held at the Institution of Electrical Engineers in London in March 1996. Identifies social, economic and other barriers to effective exploitation of new forms of information systems and considers actions that might be taken to eliminate or reduce their effects.

The purpose of this study is to highlight how people acting as Enduring Power of Attorney (EPoA) abuse their privilege in relation to real estate transactions through analysis of five court cases. This study thereby provides insight into how and why adult children cross the line into the realm of misconduct.

The approach involved a review of various court proceedings relating to elder financial abuse, and the synthesis of the important facts and judgements made that constitute unconscionable conduct, undue influence and passive acceptance of benefit. The cases selected focus on real estate transactions.

The research revealed some key commonalities and that property and living arrangements are the issues highly contested in courts for small estates.

The case review provides some critical findings that are valuable for wealth management professionals or managing an ageing person’s care and living arrangements. It provides practical insights for the importance of independent legal and financial advice when entering real estate transactions. The findings also inform real estate agent practice in helping to reduce elder financial abuse through robust checks if an Attorney is acting on behalf of a Principal. The authors also support improving EPoA guidance and professionalization to assist Attorney’s to carry out their duties with appropriate care.

A review of cases relating to EPoA in relation to real estate is novel and makes an important contribution to developing resources to educate Attorney’s and financial service professionals, including real estate agents.

May 26, 1971. Limitation of action — Asbestosis — Workmen contracting progressive and insidious disease over number of years due to employers' breaches of statutory duty — Actions commenced pursuant to leave in extended time — Whether workmen entitled to bring action outside satisfactory three‐year period — Limitation Act c.47, 1963, ss. 1 and 7.

This study aims to analyse the effects of the Presidential Powers (Temporal Measures), amendment to the Money Laundering and Proceeds of Crime Act to include legal practitioners under the list of designated non-financial business and professions.

The study is a textual analysis of anti-money laundering legislation [anti-money laundering (AML) legislation] within the context of legal practice in Zimbabwe.

The amendment put Zimbabwe on the international standard in the fight against money laundering, as legal practitioners have become a soft target for money laundering. Despite its noble aim, in Zimbabwe there is anecdotal evidence that the AML legislation turns lawyers into watchdogs or law enforcement agents. On the contrary, the amendment prevents lawyers from falling to the mercy of organised criminals and money launderers. Furthermore, there is a dearth of empirical research that can demystify the impact of some of the provisions of this law on contested issues, such as legal professional privilege.

This study aims to outline the rationale for anti-money laundering policy and law. This study will analyse how the issue has been approached in other jurisdictions such as England and Wales. The paper will then try to establish coherent principles in the prevention of money laundering. This study will also suggest a number of recommendations as to how Zimbabwe could approach some of the issues while still considering the need to balance competing influences of legal privilege and money laundering regulations.

The paper will bring this issue to the fore and initiate an informed debate, as well as provide practical talking points for legal practitioners to embrace the AML regime and to engage policymakers on the issues that need reform.

This paper provides the first in depth analysis of the money laundering legislation in the legal fraternity in Zimbabwe and goes to offer practical tips and entry points on the application of the regulations or for advocacy towards any reform as might be needed.

The purpose of this paper is to present the risk of the non-financial sector in Croatia concerning the threats of money laundering through the prism of national and supranational risk assessment. In addition to a brief overview of the financial sector, the specifics of the non-financial sector have been highlighted. This paper aims to emphasize the peculiarities of the non-financial sector, focusing on the consequences of arbitrary application on the right to professional secrecy and independence.

Specifics of the national risk assessment in Croatia have been analyzed using deductive and inductive methods. To provide an overview of the non-financial sector, the risk assessment at the supranational level has been discussed and compared with the national one. Particular attention has been paid to the areas of increased risk.

The effectiveness of risk assessment depends on several factors such as the characteristic of the sector being observed, the specifics of each profession or business, changes at the level of awareness-raising and efficient and coherent supervision. Most deficiencies were observed in the area of beneficial ownership identification, conducting due diligence, awareness of the risk exposure and permanent education.

By recognizing the risk profile faced by the non-financial sector, this paper seeks to point out their role as “Gatekeepers” that is far from being negligible. By analyzing the risk of money laundering in Croatia, the tendencies of harmonization with international standards are pointed out along with the occurrences indicated by the practice.