Why lawyers and accountants are thinking about a one-stop shop

Article Abstract:

Accounting firms in the UK are increasingly acknowledging that they could gain considerable benefits from linking with law firms. They realize that law firms offer more opportunities for 'value-added' work, and regard linking with law firms as part of the existing trend towards cooperating with merchant banks to offer corporate finance services. Some law firms believe that linking with accounting firms could bring negative repercussions, especially in terms of offering independent advice.

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Going global is goal that may prove elusive

Article Abstract:

Accounting firm Arthur Andersen has announced plans to purchase the entire Canadian practice of rival firm KPMG. The latter concern has taken care to emphasize that a deal has not yet been formalized and that, even if the purchase does go ahead, it will be possible for KPMG to recreate a viable Canadian operation. Some observers believe that Arthur Andersen is seeking to build up its strength in preparation for a split from Andersen Consulting.

Comment:

Has reported acquisition negotiations to take over Canadian assets of KPMG

United States, Canada, Asset sales & divestitures, Acquisitions & mergers, Planning, KPMG Peat Marwick L.L.P., Arthur Andersen and Co.

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Invasion of the bean-counters

Article Abstract:

Leading accounting firms are making considerable efforts to establish a strong presence in legal services. The shift towards multidisciplinary practices can bring serious conflicts of interest, but this trend is likely to continue, especially as clients favour the multidisciplinary approach. At present, Law Society regulations oblige accounting firms to place their lawyers in separate firms, but these regulations may be relaxed.

United Kingdom, Strategy & planning, Laws, regulations and rules

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