RegulationAccounting StandardsICAEW: legal services bill ‘blocks multi-disciplinary practices’

ICAEW: legal services bill 'blocks multi-disciplinary practices'

ICAEW warns that current legislative plans could mean accountants will not be able to operate fully in MDPs until 2011

Advisers looking to operate multi-disciplinary practices will have to wait
until 2011 due to the wording of the legal services bill, warns the ICAEW.

The institute has criticised lawmakers over the content of the bill currently
going through parliament, arguing that the wording slows up the provision of a
more open market for legal services.

Caron Bradshaw, business law manager at the
ICAEW ,
said the bill did not include a system to allow firms that want accountants and
lawyers as partners to be created more quickly.

Brashaw said a system where low-risk business structures can provide legal
services, such as a firm containing a combination of legal and accounting
professionals, should be introduced more easily than those containing
non-professionals.

Bradshaw is unhappy that the
Department of Constitutional
Affairs
does not expect accountants to be able to work in MDPs
until 2011, as all structures are treated as the same in the bill.

‘The DCA should have attempted some type of risk scale, they’ve not
considered the professional standing [of an MDP],’ said Bradshaw.

Further reading:

ICAEW awaits probate decision

Door left open for profession to offer
legal services

Related Articles

Demystifying GDPR for accountants

Accounting Standards Demystifying GDPR for accountants

5m Ellen Temperton, Lewis Silkin
EY fined £1.8m over Tech Data audit

Accounting Standards EY fined £1.8m over Tech Data audit

6m Emma Smith, Managing Editor
The great professional services shake-up

Accounting Standards The great professional services shake-up

7m Fergus Payne, Lewis Silkin
What do clients actually want from an accountant?

Accounting Standards What do clients actually want from an accountant?

8m Emma Smith, Managing Editor
Accountants shouldn’t neglect hybrid mismatch anti-avoidance rules

Accounting Standards Accountants shouldn’t neglect hybrid mismatch anti-avoidance rules

9m Alison Conley
Membership of the accountancy profession on the rise

Accounting Standards Membership of the accountancy profession on the rise

9m Alia Shoaib, Reporter
The real price of mates' rates in the provision of professional services

Accounting Standards The real price of mates' rates in the provision of professional services

10m DAC Beachcroft
IASB overhauls insurance accounting with issuance of IFRS 17

Accounting Standards IASB overhauls insurance accounting with issuance of IFRS 17

11m Alia Shoaib, Reporter