Accounting-legal tie-ups: managing the conflict

THIS week, we reported that the Big Four accounting firms in Singapore are beefing up their legal services through partnerships with boutique law firms (BT, July 24). While not a wholly new development, it's a trend that seems to come in waves, with the latest crest making itself felt in just the last couple of weeks or so.

The reason such tie-ups continue to be favoured and attempted by both parties is that they seem to make good business sense for the large accounting networks and specialised law practices involved.

But news of such collaborations also tends to spark concern among clients and other stakeholders in the marketplace about how the inherent conflicts of interest in such a set-up will be managed.