Door left open for profession to offer legal services

Option left open in response to legal services bill for accountants to work within multi-professional entities

Written by Kevin Reed

The accounting profession has been given hope that reforms aimed at opening up the legal services market could be more inclusive than first suggested.

A response to the legal services bill by the Department of Constitutional Affairs (DCA) has left the door open include accounting firms under the remit of an Alternative Business Structure (ABS) in certain circumstances, which would enable different professionals to work together as partners in the same firm. The DCA said the timetable for this reform should not be delayed if the bill becomes law.

'The government… intends to enable those professional bodies with appropriate regulatory and other arrangements to regulate entities that fall short of the Bill's definition of an ABS entity,' the DCA said.

Will writing should remain an unreserved service, the DCA added.

'It appears they could be considering something short of a full-blown ABS,' said Caron Bradshaw, business law manager at the ICAEW.

'We feel clearly that well-qualified professionals should be able to work on an even footing.'

The ICAEW had criticised the Joint Committee's report into the bill in July for failing to remove additional regulatory burden on the profession to provide advice in areas such as probates and trusts.

Further debate in parliament on the bill is understood to be timetabled for November.

Enjoyed this article? Help spread the word:

Comments

Reader comments for this story

White papers

Related jobs

Spotlight

Richard Atkinson, FD of All England Tennis Court

Profile: Richard Atkinson, FD of All England Tennis Club

As Wimbledon reaches a heady climax, the FD of All...

PwC 10-year anniversary special report

Relive how the controversial mega-merger of Price Waterhouse and Coopers...

Make partner fast with YP

The latest edition of Young Professional features our definitive guide...

Find your next job

Find your next job
Salary Checker

Newsletters

Sign up here for the very latest news delivered to your inbox. Choose from the following options:

Search white papers

Search white papers

Have your say

Has the credit crunch made you fear for your job?
Yes, my company says jobs will go
Maybe, if things get worse, I could be hit
No, business is quite stable

Job of the week

More finance jobs...

Your next job