KLegal announced on Friday that the network has formally ceased to exist, although member firms will endeavour to keep close working relationships with each other.
Speaking to the Legal Week news service, chief executive of the former KPMG international operation, Robert Glennie explained that:
"The structure of our relationship with KPMG is changing for regulatory reasons. These changes will allow our members to work with KPMG, as independent legal practices, while offering the widest possible choice to our clients and ensuring full regulatory compliance."
The network announced last year that it would be ceasing operations under the KLegal branding, due to provisions in the Sarbanes-Oxley Act concerning the provision of non-audit services to audit clients by accounting firms.
Mr Glennie went on to add that:
"Although the formal structure of KLegal International will be wound down, the underlying relationships between member firms will continue. Close contact will be maintained, as will work for clients on cross-jurisdictional matters. Meanwhile, plans continue for a new, international legal grouping, with a 'best friends' relationship with KPMG to be unveiled later this year."
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment