Partner, Corporate & Funds (Melbourne)
Prior to using Atticus, verification at Hall & Wilcox involved a process familiar to many capital markets and funds lawyers across Australia, Singapore, Hong Kong and the UK. It required a lawyer to manually footnote every sentence in the disclosure document, tracking the support for these sentences in a separate index table, and compiling folders of supporting materials.
As lawyers know too well, this is a process that results in a mountain of emails back and forth between themselves, their client, and other stakeholders, containing different versions of the various verification documents, with days spent simply compiling the work.
Vanessa described this method as having the potential to get “messy and increasing the risk that things could be missed”.
Vanessa and her team found it “very easy” to get started on Atticus. The client hadn’t used Atticus before. Preparing the client for verification involved 30 minutes of training which included an introduction to Atticus. A large part of this training was an explanation of the legal process of verification generally.
better client collaboration
“The client could directly verify the management representations themselves on the platform. We could log in to Atticus and work on the verification document at the same time, using the notes function to communicate” said Vanessa.
simple version control
Vanessa insisted that “the ability to upload a new version of the disclosure document made the biggest difference”. This was the process she was “most concerned” about, however, she found it “seamless”.
saved time, with better accuracy
strengthened client relationships
quick & comprehensive reporting
Atticus allowed the Hall & Wilcox team to wrap up the verification quickly, and produce the final reports in minutes; a process that usually takes days.
The best thing about Atticus is that “the output for the client is significantly better, and it helps ensure that the verification process is done properly” declared Vanessa. “We wouldn’t do a verification without Atticus”.