Being approached by the Parliamentary Review to contribute an article for the 2019 publication was a great honour, particularly given that we are the only law firm in Scotland to feature.
The Parliamentary Review is a guide to industry best practice which demonstrates how different sectors, including the legal sector, have responded to challenges in the political and economic environment.
We were approached by the Review as a consequence of our unique approach to management of the firm. The Review also sought our comments regarding how any recent changes to legislation had impacted upon as a firm – what we found challenging over recent years and months.
Giving back to our community
We never underestimate the importance of our reputation within the local community and always strive to integrate ourselves as much as possible into the lives of those in our local area. We value our loyal clients and strive to support them and the wider community in everything that we do.
To achieve this, we have internal teams tasked with different aspects of our day-to-day operations. These teams are made of a cross-section of our workforce. This is an innovative arrangement being one of very few firms to do this in Scotland. One of the teams is focused on delivering Community Contribution. As a firm we have won many national awards for our contribution to the community. Approximately 5% of the firm’s net annual profit is reinvested into the community in various ways – and ‘reinvestment’ is how we see it. Our clients and the community which we serve are our foundation and giving back to them will always be a cornerstone of our ethos.
Recent changes to legislation – Data protection and Anti-Money Laundering
The introduction of the General Data Protection Regulation in 2018 and the Money Laundering, Regulations in 2017 have impacted us greatly. We take compliance in these areas very seriously in order not only to protect our firm but also, more importantly, to protect our clients. We undertake compliance in-house and one of the greatest challenges we face is ensuring that we keep ahead of developments in these areas to ensure the firm’s reputation is maintained.
On 20 March 2019 we attended an evening Gala reception of the Review at The Mansion House in London. At an unprecedented time in British politics it was interesting to meet other representatives from across the UK and listen to their experiences. The BBC’s political correspondent Andrew Neil delivered an insightful message regarding Brexit and its potential impact upon British businesses.
Innes & Mackay’s contribution to the Parliamentary Review has given us valuable cause to pause and reflect. A copy of our best practice article be viewed at https://www.theparliamentaryreview.co.uk/organisations/innes-and-mackay – we hope you enjoy reading it as much as we have enjoyed participating.