KPMG makes ABS innovation in UK

KPMG has just been given an ABS (Alternative Business Structure) license but claims that it will use it to run a multi-disciplinary practice, rather than setting one up for a separate legal arm.

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The accountancy giant says it is the only one of the Big Four to be awarded an ABS licence on this basis. It has received approval from Richard Collins, executive director of the licensing body, the Solicitors Regulation Authority. He said: ‘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.’ Source: Law Careers Net

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