Multi-disciplinary Professional Practice: Recent Developments and Attitudes of Accounting and Legal Practitioners

Recent developments in the professional accounting market and by the New South Wales legal profession indicate increasing pressure to consider multi-disciplinary professional practice in some form or other. Two of the Big Six accountants have launched new legal firms. In NSW, legislation has been amended to permit solicitors and other professionals, for the first time in Australia, to share their income. Australian legal and accounting professionals must seriously consider whether, and how, to facilitate the formation of multi-disciplinary partnerships (MDPs) where members of different disciplines combine to service clients' needs and share commercial profits.