Legal team to grow at KPMG as firm acquires multi-disciplinary ABS licence
updated on 21 October 2014
The accountancy firm KPMG has recently been awarded an alternative business structure (ABS) licence by the Solicitors Regulation Authority (SRA).
Other accountancy firms have already secured an ABS licence (PricewaterhouseCoopers was granted its licence in early 2014), but KPMG argues that it is the first of the 'big four' with an ABS licence to operate on a multi-disciplinary basis. Speaking to Legal Business, Simon Collins, KPMG UK chair, stated that the firm will not develop a separate legal practice. Instead legal services will be offered where the firm has a "proven and successful track record".
SRA executive director Richard Collins commented: "The vehicle KPMG has created to deliver a range of professional services in a one-stop shop is exactly the kind of entity envisaged when the Legal Services Act was introduced. We believe ABSs of this type will benefit consumers by providing greater competition in the provision of legal services, greater opportunities to access holistic services, and potential reductions in cost by services being made available in one place."
