Accounting Today reports that accounting giant PwC is about to open a law firm in the U.S. The article, compiled from various sources by Daniel Hood, points out that this constitutes a significant new development in what many see as an increasing encroachment by accounting firms into the legal services marketplace.

The firm, to be called ILC Legal, will operate independently of other PwC interests, and according to the article will not offer clients advice on U.S. law, but rather on international legal matters – “such as international corporate structuring, M&A, immigration, and tax controversy.”

The Accounting Today article reports that “69 percent of law firm leaders view [accountants who are moving into the legal-services market] as a major threat.”

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