CPA Trendlines Podcasts Pushing into Law? A Seismic Shift for Firms | Accounting Influencers
AZ opens the door to multidisciplinary firms, and Big Four competitors are watching closely.
Accounting Influencers
With Rob Brown
Accounting and law have long existed in parallel, separated by strict professional boundaries. That wall may be crumbling. KPMG is moving to become the first Big Four accounting firm in the United States to own a law firm, a step that could reshape the profession.
The opening occurred in Arizona, which recently amended its rules to permit non-lawyers to own law firms under alternative business structures (ABS). KPMG seized the opportunity, announcing plans to launch KPMG Law US. The firm will not enter courtroom litigation but instead focus on contract management, legal project support, and M&A contract harmonization.
Globally, KPMG already operates legal services in 80 countries. With the United States representing the world’s largest legal market, the Arizona initiative is widely seen as a beachhead for national expansion. Partnerships with local firms and co-counsel agreements are expected to follow.