ILTA and Braintrace hosted an educational webinar, on 5/5/2020, on the risks to compliance as part of your pandemic disaster scenario. Most organizations have focused on alternative resources to keep operations working, forgetting that a pandemic scenario may last several months and impact not only regulatory schedules but also internal control processes – all of which affect external audit certification.
Below are the topics covered in this webinar.
Topic 1: Before COVID-19, did HaystackID complete a risk assessment or business impact assessment for a Pandemic disaster scenario? Can you describe the process Haystack has adopted to implement its COVID-19 disaster plan?
Topic 2: Has Braintrace noticed any impacts on law firms resulting from a lack of preparedness? Describe the differences based on readiness, such as performing risk assessments and testing of plans versus firms that did not complete risk assessments.
Topic 3: How are you addressing the return to normal? Will staff be following social distancing in the office, wearing masks? Is there a new normal for in-office activities? Curious if these were considered in the risk assessment/BIA for a Pandemic scenario.
Topic 4: What are the impacts of compliance programs resulting from COVID-19? Describe how law firms can prepare for their compliance audits and what impacts they may face as a result of the business disruptions this year.
Question 1: I haven’t been able to evidence the Disaster Recovery decisions in my law firm. What should I do now?
Question 2: We did not do a risk assessment and are not sure how to go about doing one.