{"id":1000896654,"date":"2024-07-17T16:33:21","date_gmt":"2024-07-17T20:33:21","guid":{"rendered":"https:\/\/www.goingconcern.com\/?p=1000896654"},"modified":"2024-07-17T16:33:26","modified_gmt":"2024-07-17T20:33:26","slug":"kpmg-australia-gives-up-on-the-idea-of-competing-with-big-law-or-medium-law-or-small-law","status":"publish","type":"post","link":"https:\/\/www.goingconcern.com\/kpmg-australia-gives-up-on-the-idea-of-competing-with-big-law-or-medium-law-or-small-law\/","title":{"rendered":"KPMG Australia Gives Up on the Idea of Competing With Big Law (or Medium Law, or Small Law)"},"content":{"rendered":"\n

KPMG Australia has been busy doing some decluttering this year. First a “radical restructuring” that meant shunning a lot of the traditional advisory work — which has dried up of late anyway — and going all in on “tech-related advisory and software installation.” That move is supposed to save the firm $80 million AUD ($53.8 million USD), part of that coming from not having to pay the salaries of the 200 senior consultants and above it laid off. See: KPMG launches radical overhaul, cuts 200 senior jobs<\/a> from AFR.<\/p>\n\n\n\n

Now KPMG Australia is nuking its law practice. Fellow Americans reading this are probably like “KPMG has a law practice?” Well, it did. That’s a thing they’re allowed to do over there. It sounds like they finally arrived at the conclusion that’s fucking stupid and they should stick to what they know.<\/p>\n\n\n\n

Writes Maxim Shanahan in Australian Financial Review<\/em><\/a>:<\/p>\n\n\n\n

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The decision will cost dozens of jobs and marks the end of the big four consultancies\u2019 ambitious attempt, launched at the peak of their influence, to take on established major law firms in traditional commercial practice areas.<\/p>\n\n\n\n

KPMG Law\u2019s Tax Controversy & Disputes practice will be incorporated into the firm\u2019s tax division, but the big four firm will no longer operate its own distinct commercial law practice.<\/p>\n\n\n\n

Ben Travers, head of the firm\u2019s tax and legal division, said KPMG would now \u201clook to further develop alliances with law firms that offer complementary services to ours, rather than invest in our own commercial law businesses\u201d.<\/p>\n<\/blockquote>\n\n\n\n

Sky News clip for the reading-averse:<\/p>\n\n\n\n

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