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Most GCs Find Jobs Rewarding

Here's a twist: Lawyers who like their jobs. Sheri Qualters reports in The National Law Journal on a new Association of Corporate Counsel survey that finds 85 percent of chief legal officers find their careers to be rewarding. But their job satisfaction was not without its downside. Qualters writes:

While 59 percent of CLOs and general counsel revealed that increased monitoring by law enforcement and regulators had only a modest influence on their career satisfaction, 30.6 percent said it would make a 'considerable impact' on their future decisions, such as looking for a new CLO job or retiring.

Survey respondents also reported strained relationships with outside auditors, with only 16 percent noting improvements over the past few years, 25 percent characterizing interactions as more difficult and 59 percent responding that the relationship was unchanged.

ACC President Frederick J. Krebs attributes these strained relationships to changes in how GC and outside auditors perceive their roles and boundaries. "Although employed or engaged by the same company, and sharing a common interest in appropriate financial disclosure as required by securities laws, outside auditors and in-house lawyers bring different perspectives to their roles and each must meet different legal and regulatory requirements that apply to their respective missions in the audit process," Krebs said.

Posted by Robert J. Ambrogi on April 18, 2008 at 02:19 PM | Permalink | Comments (0)

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