Legal Audit Checklist

“Chance favors the prepared mind.” -Louis Pasteur A properly conducted, a legal audit is a practical way to stay atop your legal affairs and, thereby, help you minimize legal troubles for your condominium. With a legal audit you try to ascertain your current condition, correct any problems, and take action to prevent future problems. Your legal audit can be broad or narrow, depending on what you seek to accomplish and the stakes involved. For example, a broad audit could include a look at operations to insure compliance with employment and cyber law issues. A narrow audit could be limited to a simple review of corporate records and licenses. A good place to start a legal audit is with a look at the operating statements, financial audits, and business plans of a particular condominium. Contact our office to obtain the comprehensive checklist that covers the basic areas that would normally be included in a legal audit. This checklist can stand on its own; it can also serve as a starting point for those wishing to develop a expanded checklist for a particular condominium. The following contains a representative sample of the topics covered in the checklist.

1. Condominium Issues
2. Contracts.
3. Corporate Minute Book.
4. Government Filings.
5. Intellectual Property Protection.
6. Employment.
7. Record keeping.
8. Laws . Has the condominium determined the applicability of the following laws to its business?
9. WEB Sites.
10. Insurance Coverage & Indemnity Agreements.
11. Status/Review of Pending Litigation, Including Contingent or Threatened Claims .

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