PwC vows to become a top 20 law firm by 2019

Thursday, 20 March 2014 By Legally India Legally Wired

PricewaterhouseCoopers’ legal services head Leon Flavell said that the consultancy firm would become a $1bn global legal services player, aiming to grow from the $500m it generated from legal services in 2013. In the UK the firm has won a licence to operate as an Alternative Business Structure (ABS), allowing non-lawyers and companies to own legal services businesses. In India accountancy firms have been building legal capacity too for the last several years, winning a growing number of instructions [The Lawyer]

PricewaterhouseCoopers (PwC)chartered accountants (CA)

Comments

Not-a-CA 20 Mar 2014, 10:50
+3 -0
This ushers in a new era where Accountants try to double up as Lawyers. Jack of all trades and Master of none, eh? I guess they wouldn't be that much of a threat to lawyers. These sister firms of the Big 4 and the like would need a team of lawyers anyway, for spell-check and drafting, at the very least.

Maybe the CAs should stick to what they know best, number crunching audits etc. and leave the law to us.
Guest 20 Mar 2014, 16:01
+0 -0
Yes, the CAs should get confined to their basic competence in accounting and must not be permitted to dabble in practice of law which is reserved only for advocates. Tax statutes allow even MBAs and Commerce graduates to practice law which is a travesty in this country. Indian lawyers are yet to wake up.
Guest 20 Mar 2014, 15:57
+0 -0
Foreign firms such as PwC or E&Y are ambiguously entrenched in India. They cut across the board as advisory, auditing and law firms. But one thing is clear. They cannot engage in practice of law in India without their parent Western countries affording equal opportunity to Indian Law Firms on reciprocal basis. If they attempt to practice in India, Indian lawyers can bring an objection before the Court/Tribunal where the attempt is made.
Not-a-CA 21 Mar 2014, 06:41
+0 -0
What are we waiting for? :/
BCI! 20 Mar 2014, 18:35
+0 -2
Is the BCI sleeping?!We must put an end to this now or otherwise amend the law to allow CA firms to practise law... But this is a joke!!!
green lantern 21 Mar 2014, 09:32
+3 -0
They can always hire lawyers. Nothing stopping them from hiring lawyers or lawyers from joining them. Someone should research the Chinese walls and ICAI rules for an informed discussion.
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