fb

ACCA AUTUMN SAVINGS 20% OFF

Legal issues for the Big 4

Legal issues for the Big 4

If you ask a person in the street the question “What do the Big 4 do?”, the chances are that you’ll either get a funny look back or if the person has heard of the Big 4, they will probably say something like “accounting”.

The Big 4 are made up of Deloitte, EY, KPMG and pwc and whilst historically they had a strong accounting focus, nowadays they have a much wider remit and include many more business functions than pure “accounting”.

The legal side of business is playing a bigger part now for the Big 4 and earlier this year EY in the UK purchased Riverview Law, one of the “new breed” of legal firms.

Prior to 2012, law firms in the UK in effect had to be owned by lawyers (ie most law firms were partnerships owned by partners who were lawyers). Since 2012 though the regulators have been licensing non-traditional law firms.

Riverview Law is one of these non-traditional law firms and has built a reputation of being a disrupter in the industry due to its clever use of technology to minimise its overheads and offer clients fixed fees instead of hourly rates.

Cornelius Grossman, EY’s global head of law, was quoted as saying “This acquisition underlines the position of EY as a leading disrupter of legal services. It will provide a springboard for current EY legal managed services offerings and will bolster the capabilities that we can help deliver for EY clients”.

Whilst this expansion into legal services is good news for the Big 4, it’s not so good news for the traditional legal companies. The mid-tier legal firms especially are likely to be under threat from the expansion of the Big 4’s legal offerings.

Share this entry

Related articles

View All Articles

Recent articles

View All Articles
Two jobs, one big mistake…
Sep 10, 2025
Title
Two jobs, one big mistake…
Excerpt

Can you really hold down two full-time jobs at the same time? For most of us, it sounds […]

Cash is (no longer) King…
Sep 08, 2025
Title
Cash is (no longer) King…
Excerpt

For generations, a wallet or purse has been an everyday essential — a small, leather-bound companion holding coins, […]

Nestlé CEO fired over office relationship…
Sep 04, 2025
Title
Nestlé CEO fired over office relationship…
Excerpt

Nestlé is the world’s largest food and beverage company, with a portfolio that includes some of the most […]

When ethical claims backfire: Armani’s €3.5m fine
Aug 20, 2025
Title
When ethical claims backfire: Armani’s €3.5m fine
Excerpt

Luxury brands are often seen as the gold standard of quality, exclusivity, and prestige. They charge premium prices […]

The benefits of sleeping on the job…
Jul 21, 2025
Title
The benefits of sleeping on the job…
Excerpt

My guess is that not a lot of you have gone up to your boss and said that […]

A car wash, wallet and apartment – laundering explained…
Jul 18, 2025
Title
A car wash, wallet and apartment – laundering explained…
Excerpt

Money laundering might sound like something from a gangster movie, but it’s a serious real-world issue that affects […]

Take a selfie and then return it…
Jul 16, 2025
Title
Take a selfie and then return it…
Excerpt

The latest must-have outfit trending on TikTok might be out of fashion by the time it arrives on […]

When auditors overstay their welcome…
Jul 11, 2025
Title
When auditors overstay their welcome…
Excerpt

A cornerstone of audit is independence. A recent stumble by EY – one of the Big Four accounting […]