Accounting firms have cautiously welcomed a report that could ease their transformation into multidisciplinary practices (MDPs). The report, by a commission of the American Bar Association (ABA), has recommended that lawyers should be allowed to practise law in organisations other than law firms. The ABAs' refusal to permit lawyers to practise in MDPs has been a stumbling block to the aspirations of the big five accounting firms.
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The OECD had previously missed a June 30 deadline to agree an MLC on amount A; in other news, UK corporation tax bills surged to a record high last year