b'BACK TO NAVIGATIONRISK MANAGEMENT, BUSINESS CONTINUITY,ETHICS AND CODE OF CONDUCTChallenges and OpportunitiesIn law firms, universal standards for managing risks, continuity, ethics and codes of conduct are guided by government regulation, state law societies, customer expectations and industry standards. The ongoing effects of the COVID pandemic, economic conditions, global security, and the rapidly developing climate crisis have shown how high-impact scenarios can manifest quickly and relatively unexpectedly with profound and unexpected impacts and consequences.While long understood amongst the health, economics and environmental specialties, these risks are now becoming mainstream risks to be understood and managed by both business and governments. This rapid change has shaken the belief that the constants that we have relied on will stay true in the medium term. This provides a valuable lesson and highlights the real benefit of exploring new scenarios for the economic, social and environmental impacts from issues such as human rights progress, climate change, and biodiversity loss. Risk management and continuity as well as governance systems need to take account of these risks, make adaptation plans, and address the strategic and ethical issues this raises for firms.This report finds that all members have systems in place. However, from time to time, there are examples where organisational systems fail to identify, avoid or properly manage breaches. Actual ethical and professional conduct and the effectiveness of a firms codes and procedures are significantly influenced by organisational culture and leadership. Where these are misaligned, it almost always creates cultural norms that can undermine policy codes and determine behaviours. Senior leaderships role is to ensure that an organisations culture demonstrates its publicly projected values and that the leadership and behaviours they demonstrate and reward continue to strengthen these values.RISK MANAGEMENT PLAN BUSINESS CONTINUITY PLANYES NO YES NO90% 10% 88% 12%83'