It was interesting to read in the Law Society Gazette today that KPMG and Ernst & Young are considering applying to become regulated suppliers of legal services. Apparently they are not intending to carry out high street work, but do wish to be in a position to meet the legal needs of their existing clients.
The big accountancy firms in particular are well known for having first class systems in place and their potential ability to undertake legal work in an efficient and cost effective way will undoubtedly be a threat to the law firms who are currently providing legal services to those accountancy firms’ clients.
Yet another incentive for law firms to ensure that their knowledge management and IT functions are in good shape!
