The Big Four accountancy firms have set a precedent for their legal counterparts by disclosing updated gender pay gap figures that include equity partners.
The result is a substantial increase in the pay gap between men and women, adding pressure on law firms to follow suit and reveal the disparity in remuneration at the top. Continue reading “Upping the ante: City Law feels pressure on transparency as Big Four includes partners in gender pay stats”
Often trumpeted as a potential disruptor to the UK legal market, the last of the Big Four accountancy firms, Deloitte, is primed to enter the fray as an alternative business structure (ABS).
The global professional services giant confirmed yesterday (10 January) that it would be using technology such as automated document review and contract management to underpin the new legal offering. In addition, Deloitte will be launching a consulting service to help in-house legal teams get the best out of technology. Continue reading “‘Not another mid-market law firm’: Deloitte to make much-anticipated foray into UK legal market”
PwC will continue to spearhead the push by the Big Four accountancy firms into the global legal services market with the launch of a law firm in Washington DC.
ILC Legal will open in the US capital later this month to service US multinationals in their business dealings overseas. Continue reading “The rise of the accountants continues as PwC launches in DC”
At the debate I recently attended on future of law-type stuff everything was proceeding to plan. Once the panel finished on artificial intelligence (AI), the law firm model and partners being useless, conversation turned to the Big Four. You know the gist: HERE THEY COME – GLOBAL – SLICK – WAY-AHEAD-OF-LAW-FIRMS.
Continue reading “Comment: The Big Four – they’d have done it by now if they cared”
At the debate I recently attended on future of law-type stuff everything was proceeding to plan. Once the panel finished on artificial intelligence (AI), the law firm model and partners being useless, conversation turned to the Big Four. You know the gist: HERE THEY COME – GLOBAL – SLICK – WAY-AHEAD-OF-LAW-FIRMS.
Of course, the case that these professional service giants with superb boardroom access and resources way beyond the largest law firms should become leaders in law sounds persuasive. And yet discussion of the Big Four still gives so little weight to the plain fact that, with varying degrees of enthusiasm, they have been at this for more than 20 years and have yet to get anywhere near justifying the hype. The only conclusion can be that there is something fundamental to their approach and models that frustrates their progress.
Continue reading “The Big Four – they’d have done it by now if they cared”
The Big Four accountants are pushing once again into the legal services market as they hunt beyond their audit heartlands. Should you be worried?
‘It has happened to me where you serve a client, have a great book of business, and then Ernst & Young [EY] is lucky enough to win the audit work for that client,’ says EY global legal head Cornelius Grossmann, reflecting on the vagaries and rewards of providing legal services in a Big Four giant.
Continue reading “Who’s afraid of the Big Bad Four? – Inside the accountants’ assault on law”
PwC Legal is to integrate into the wider accountancy firm PwC UK from tomorrow (1 October), enabling the outfit to operate as a multi-disciplinary practice instead of a standalone LLP.
Revenue at PwC Legal has soared this financial year, from £48.5m to £59.9m, an increase of 25%. Led by senior partner Shirley Brookes, the legal arm of the accounting giant has also posted net income of £11m. Of the total revenue, £56m of that is UK fee income.
Continue reading “Rise of the accountants: PwC’s legal arm posts 24% revenue jump to £59.9m”
Bakers City head Alex Chadwick argues that law firms are increasingly primed to take core tax work off Big Four rivals
As the international tax framework becomes subject to increased scrutiny and legal change, the demand for strategic global advice has never been stronger. In the UK, law firms have traditionally played second fiddle to the Big Four accountants when advising on tax. Today, however, law firms with the right infrastructure are incredibly well positioned to take more of a leading role in the tax affairs of their clients. This is down to a combination of greater regulation of audit services, tougher restrictions on the provision by accounting firms of non-audit services, such as tax, valuation and legal services and deregulation of the legal profession.
Continue reading “Fighting back – a golden opportunity to take on the Big Four in tax services”
Big Four accountant Ernst & Young (EY) has appointed Axiom’s Aaron Stewart as a director to head up the launch of a legal services arm in Belfast.
Continue reading “The accountants keep coming: EY launches in Belfast with Axiom appointment”
