Page 2 - COL Asia Newsletter (30 May 2018)

CFE Legal and Accounting Services “Today, lawyers (and accountants) are expected to not only
provide legal and accounting advice but to also use their
he CFE Legal and Accounting Services working group professional expertise
T made 15 recommendations for strengthening Singapore’s to bring value and help Legal and Accounting Services
position, as a global leader for clients shape business
legal and accounting services, strategies. Lawyers Singapore has 6,444 lawyers
with four key thrusts: (and accountants) to employed across 874 law firms. In
1. Strengthening global market have deep regional the accounting industry, 17,812
position. knowledge and people are employed across 689
2. Transforming the legal and networks; regional legal firms. The two industries have a
combined $1.1 billion worth of
accounting sectors. expertise; and
knowledge of their services exports.
3. Building thought leadership.
clients’ industries and
4. Equipping legal and needs.”
accounting professionals to
be future-ready.
The report’s recommendations
in the two areas of MOU
collaboration are below: ▄▌

College of Law CEO Neville Carter and Law Society
president Gregory Vijayendran with the signed MOU

At the opening session of the Law Society’s July 2017 Future
Lawyering Conference - ‘Law Firm Leaders – What to expect
in the next 50 Years’ - panel speakers agreed that “domain
knowledge in relevant
“Collaboration to drive industries expertise was an
thought leadership in important skillset for the
the
legal education policy” lawyer of should future.
also
Lawyers
leverage on technology and
Law Society of Singapore move up the value chain.
newsletter—JusNewSG They must be able to
(March 2018) interpret and strategise
research done by a
machine. The lawyer of the future would require a higher
order skillset encompassing not only technical skills but soft
skills including people skills, domain skills, judgment and
strategy.” ▄▌

COL events in Singapore on 26 & 27 June 2018
wo introductory
T College events in
Skillset of the lawyer of the future Singapore have been
he MOU will be assisting the Law Society achieve the arranged to support the
T CFE Working Group on Legal & Accounting Services’ new MOU with the Law
vision of the skillset of the lawyer of the future - as “holistic society - a CPD seminar
trusted business advisers with the ability to “see around the featuring CLI Director
corner” to guide clients in making strategic business Terri Mottershead and a
decisions.” CLI Legalpreneurs
Roundtable event:

MAY 2018 Page 2