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Private library: analysing financial statements to identify legal risks

How to have Lexroom analyse financial statements uploaded to the Private library: legal risks, regulatory obligations, inconsistencies with current legislation and corrective actions.

Written by Caterina Tiziani

Step-by-step procedure

  1. Open the Private library from the left-hand panel and upload the document (supported formats: PDF, TXT, Word). In the example: a company's consolidated financial statements for the 2024 financial year

  2. Go back to the home page and write the legal query

  3. Tick the Private library among the sources, so that Lexroom can retrieve the document directly

  4. Select the most suitable module (in the example: Corporate), to help Lexroom identify the inconsistencies with the legislation

  5. Send the query

An example of an effective prompt

Analyse the consolidated financial statements for the 2024 financial year uploaded to the private library, identifying any legal risks or regulatory obligations arising from the asset, financial and income situation. Highlight the inconsistencies with current legislation, such as irregularities in the management of funds and reserves or potential liabilities of the directors. Finally, give me a clear summary of the critical points and, if possible, suggestions on any corrective actions.

The result

Lexroom's answer (in the example produced from 14 sources, all viewable and downloadable in the right-hand panel) addresses point by point everything requested in the query:

  • Analysis of the asset and financial situation

  • Management of reserves and funds

  • Potential liabilities of the directors

  • Critical points and corrective actions

After the answer

  • Copy the answer or export it to PDF or Word

  • Carry out further follow-ups, including by attaching additional documentation

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