They're laying down the law
Article Abstract:
Big Six accounting firms in the UK are making forays into the legal world by setting up their own law firms. The first to establish a legal offshoot was Arthur Andersen which launched Garrett and Co. in 1993. The young law firm marked up its profile when it acquired Glasgow's 14-partner firm Dorman Jeffrey and Co. in 1996. The second to make headway into law was Price Waterhouse. It set up Arnheim and Co. in Mar. 1996. It is headed by former Hammond Suddards partner Chris Arnheim. Other firms, including Ernst and Young, Coopers and Lybrand and KPMG, are already studying the feasibility of having their own offshoot. This trend is being fuelled by a rising demand for global provision of integrated cross-border accountancy and tax services, thereby eliminating the need to deal with different firms for different services. Lawyers are already worried about the repercussions of this development.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1996
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In the hall of the merger king
Article Abstract:
Douglas Llambias is a successful independent adviser who specializes in arranging mergers between accounting firms. He played a key role in the two of the more prominent mergers of 1992, namely, Baker Tilly's merger with Milne Ross and Stoy Hayward's merger with Finnies. Llambias notes that significant financial advantages can be gained from the merger of accounting firms for they permit cost-cutting through the elimination of duplicated operations, while allowing the costs of compliance with new regulations to be spread out. Llambias, however, notes that the principal arguments for merger activity remain the need to increase fee growth and the enhancement of the competitive position of firms involved in a merger.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1992
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