Law firms pressed over financial transparency
Minister calls for law firms to improve disclosure and not 'cocoon themselves' from the world
Prentice, legal services minister, has said it is in
lawyers’ interests to become more open about the way they operate and backed
calls to improve transparency.
Prentice’s calls follow similar comments from Guy Beringer, senior partner of
& Overy, who said that minimal financial details released by
many firms detached them from a world in which business had to show it was
In an interview with the
FT Prentice, Beringer’s comments marked a postive contribution
to the debate on law firms’ role in public life.
‘I think it is not in lawyers’ interests to cocoon themselves outside as if
they are separate from the rest of society.
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