The Law Society is to launch a revised version of its Lexcel standard in October, incorporating a greater emphasis on risk management.


Lexcel v.4 will require practices to decide how they will manage strategic, operational and compliance risks. The standard also addresses the use of IT in this area.



Another significant change is the need for greater business continuity planning to help meet professional obligations under the new Solicitors Code of Conduct.



Lexcel v.4 will be available for assessment against from 1 January 2008, and will be compulsory for assessments after 1 June next year.



More than 700 practices now have Lexcel, including in excess of 100 local authority legal departments. A further 300 practices have told Chancery Lane they are signed up to obtaining Lexcel in the future.



Law Society President Fiona Woolf said: 'Solicitors who meet the high standards set by Lexcel, offering good-quality service and high levels of client care, will stand out and prosper in an increasingly competitive market.'