Effective risk management is essential for all legal practices. The new edition of the Lexcel Risk Management Toolkit is designed to help you and your firm to formulate and implement appropriate procedures and policies to identify, mitigate and manage risk. The Toolkit contains templates to help you to manage risk at three levels, as identified by new Version 5 of the Lexcel Practice Management Standard: Strategic risk - impacting the viability and success of the business Operational risk - arising from the work conducted by the business Regulatory risk - relating to the need to comply with the rules and regulations governing solicitors. This second edition has been comprehensively revised with the needs of law firms in mind. It includes more guidance on file reviews, conflicts of interest, supervision and avoiding delay. New policies include an outsourcing register and a health and safety policy.