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TR

Legal Audit and
Legal Risk Assessment

PREVENTIVE LEGAL AUDIT

Preventive law is a philosophy of legal practice that involves anticipating legal problems and taking action to prevent them.

A preventive legal audit has three purposes

  • Identifying previously undetected legal problems;
  • Identifying actual legal risks;
  • Identifying potential legal risks.

1. Legal Due Diligence

The prudent investor is aware that he should not fall into any carelessness as he thinks of the advantages of buying a business. Comprehensive due diligence reduces risks in mergers and acquisitions. Legal due diligence can prevent a financial disaster, provide purchasing at a better price and more advantageous conditions.

2. Legal Risk Assessment

Legal risk refers to the risk of financial and reputational loss to the business, business relations, business processes, products, and services due to misunderstanding, lack of awareness or legal gap in the law and all other legislation or contract-like legal transactions.

Companies need an effective legal risk management to identify and evaluate legal risks that may arise carefully and in detail, and to take measures to eliminate or minimize risks.

Legal risk management can be categorised as follows:

  • Lawsuit risk assessment (such as Unfair Competition or Termination of Contract lawsuits)
  • Contract risk assessment (such as Determination of Obligations in Contracts, Interpretation of Liabilities and Termination Conditions)
  • Legislation Risk Assessment (such as the possible effects of changes in Law, Regulation or Communiqué on the sector and the company)

3. Compliance Audit

Preventive legal audit also includes the audit of the company’s compliance with the legislation. As a strategic tool of corporate governance, compliance provides effective protection against legal risks and reputational damage.

LEGAL AUDIT DURING DISPUTE RESOLUTION

It is a legal audit service for the establishment of the right legal relationship at the most advantageous position and at the most appropriate time for the solution of a legal problem that has arisen, or to determine the most valuable perspectives for the case. 

1. Out-of-Court Settlements

It is an audit service performed at the stage of resorting to alternative solutions in the process of a legal problem that has arisen before going to the court.

Sample Services:

  • Analysis of the legal problem
  • Supervision of negotiation, reconciliation, settlement, waiver agreements
  • Determination of reconciliation strategy in arbitration and mediation negotiations
  • Determination of reconciliation strategy in cases where the counterparty is public.

2. Before the Lawsuit is Filed

It is the supervision service performed at the stage of bringing a legal problem to court.

Sample Services

  • Analysis of the legal problem
  • Risk / benefit analysis of the case
  • Determination of the evidence for the case file
  • Determining the litigation strategy.

3. After the Case is Filed

It is an audit service performed to determine, prevent or reduce the effect of legal risks in a court case. If requested, this service can be made permanent until the decision is finalized – until the end of the appeal process.

Sample Services

  • Analysis of the legal situation
  • Risk analysis
  • Analysis of the process until the pre-examination hearing, reporting of the strategy.
  • Investigation phase audit.
  • Determination of the appeal strategy.
  • Monitoring of compliance with the international conventions to which Turkey is a party of the proceedings; Determination of the strategy to be followed in case of any contradiction.
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