Big Four face delay in MDP goal
Big Four plans to expand their legal arms are to be delayed pending further government consultation on competition issues in the legal profession.
Multi-disciplinary partnerships, or MDPs, which allow lawyers and accountants to share fee income, were given the green light last year following an inquiry by the Office of Fair Trading.
But the collapse of Enron, the break-up of Andersen and the myriad accounting scandals emerging from the US has caused a re-think in legal and government circles raising concerns over potential conflicts of interest and whether such a move would be in the public interest.
A consultation document issued today by the Lord Chancellor’s department will again question the benefits of multidisciplinary partnerships.