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Sep
06

Paralegal Roles In Accounting

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Paralegals are an incredibly valuable business asset, relieving time and pressure from your primary attorney as well as being able to perform some of the more basic legal day-to-day tasks within an organization. An increasing number of businesses are opting to pay for employees from various departments across the business to complete an online paralegal program so that they can fulfill a greater variety of functions. Most departments within a large corporation will require some form of legal advice or aid over the course of months or years. Accounting departments are one of those who can benefit the most from the presence of a paralegal, particularly when this person is an existing staff member who can work alongside a fully qualified lawyer. Below are some of the roles a paralegal can tackle within an accounting department.

Administrative Assistance

Many students who are studying for a paralegal degree, particularly those who already have a specified role within an organization, will take on some kind of relevant work experience. Providing assistance to an accounting firm or the accounting department within a company can expose students to many of the day to day tasks they will be fulfilling as a paralegal. In general, a paralegal will be there to ensure that any legal obligations relating to day to day operations within a department are met. For example, a paralegal may be involved in ensuring that physical records are stored securely and appropriately. There will be at least one fully qualified attorney who will provide periodic oversight and ensure that the paralegals are performing up to standard.

Contracts

Contract law is a specialty all of its own and ultimately any contracts will need to be referred to a fully qualified attorney for review. However, any student studying for an online paralegal degree, such as that offered by George Washington University, will benefit enormously from working alongside and assisting a qualified contract lawyer. It goes without saying that contracts are incredibly important documents and if they are handled improperly, the results can be devastating for businesses and individuals alike. Flawed contracts can open a business to litigation, lost custom, and serious financial dangers.

Database Management

When it comes to collecting and storing the personal data of customers and clients there are certain legal obligations that businesses must ensure they are meeting. These are mostly related to the security of the data; ensuring that it can only be accessed by authorized personnel. Database security is always important, but when financial services and records are involved it is even more essential that data is safe and secure. Paralegal graduates are well positioned to oversee databases on a day to day basis and to advise the rest of the department on how to ensure that best practices are always being followed. Failure to take data security seriously can result in breaches and these breaches can negatively impact a business’s reputation, as well as open it up to compensation claims from affected individuals.

Paralegals are becoming an increasingly common sight in many businesses and of these many are working across different departments in various roles. Every new skill you learn will add to your value in the eyes of future employers and solidify your value with a current employer.

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