Highlight the risk involved in the functioning of a mega professional firm.

CS Executive · Company Law · PYQS · June 2023
Highlight the risk involved in the functioning of a mega professional firm.

Answer & Explanation:

Risks involved in the functioning of a Mega Professional Firm are as follows: Lack of understanding and multiplicity of directions to the staff could be disastrous; More cost on infrastructure and technology; Dominance of senior partners over the younger partners; Defining exit route is difficult; Lack of transparency may lead to disputes; If crack develops in mutual faith and trust, difficult to cure; Communication gap between partners.

Topics: Professional Ethics

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