PracticeAccounting FirmsDeloitte heads for spring LLP vote

Deloitte heads for spring LLP vote

Deloitte & Touche has said it will be voting on whether to change its status to a limited liability partnership in the spring. The announcement means all the Big Four firms have now either moved to LLP status or revealed an intention to do so.

Link: PwC gets liability protection

A spokeswoman told Accountancy Age: ‘There will be an announcement in the early spring,’ adding all Deloitte partners in the UK were expected to vote at the same time and ‘within the next couple of months’.

Although a ballot of partners will take place, it is unlikely Deloitte will vote against limited liability status, as its US arm became an LLP in 1994.

The Big Four firm would become the third of the large firms in the UK to opt for LLP status. Ernst & Young and was the first to vote for limited liability in April 2001.

It was followed by KPMG last year. E&Y’s move was welcomed by many who saw it as beneficial to business. PwC took on LLP status in January this year.

The move to LLP has been slow with few of the big accountancy firms rushing to take it up. This surprised many observers after the big names lobbied hard for the new corporate status.

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