Lawyers and accountants: Collaborators and competitors

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Remaking News of the Week: Collision of legal and accounting services

The collision of legal and accounting services is this week’s Remaking News featuring Stephen McGarry’s new report. Stephen analyzes the imminent ‘collision’ of legal and accounting services and subtitles his report ‘Global Disruption and Opportunity’.

Consider the facts and prognostications and decide for yourself what tectonic shifts lie ahead for BigLaw firms.

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Making News of the Week: EY to acquire Riverview Law

Today EY announced an agreement to acquire UK-based Riverview Law.

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Remaking news of the week: Deloitte acquires law offices

On Law.Com on June 06, 2018, Dan Packel reported that Deloitte UK will acquire the Berry Appleman & Leiden’s eight overseas offices. This is in addition to regulation-circumventing (my words) alliance between Deloitte and Berry Appleman & Leiden’s US operations. 

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Big Four’s Big Bite

“Just when you thought it was safe to go back in the water …” Thirty years ago, that was the tagline for Jaws 2, the 1978 second installment to the iconic shark movie, Jaws, that three years earlier kept many movie goers from daring to dip a toe in the water never mind venture out for a swim.

The odds of being killed by a shark are 1 in 3,748,067. Furthermore, according to the Florida Museum of Natural History, you’re more likely to be killed by fireworks (1 in 340,733), lightning (1 in 79,746), drowning (1 in 1,134), a car accident (1 in 84), stroke (1 in 24), or heart disease (1 in 5).

However, if you’re a law firm, the odds of being badly bitten by one or more of the Big Four professional services firms are chillingly high.

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The accountants re-enter legal. Meh!

There are countless articles on the threat of the Big 4 re-entering the legal market. Yes, they’re cashed-up, capable and well-connected, but I don’t think it will be as smooth a road for them as many are predicting. A deeper analysis suggests there are six factors that will limit their growth.

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