KPMG approved to establish US-based law firm
KPMG has been cleared by the Arizona Supreme Court to launch KPMG Law US, becoming the first Big Four auditor to host a law firm in the US. This follows Arizona’s 2020 regulatory amendment that permits non-lawyers to invest in law firms, a major departure in the legal sector.
KPMG Law US will specialize in delivering technology-enabled legal services such as legal operations consulting, contract management, compliance, and corporate transaction support. The firm will not provide legal services to clients audited by KPMG LLP to ensure that there are no conflicts of interest. This is in accordance with regulatory needs and ethical concerns in legal and financial services.
KPMG already has legal practice offices in some 80 countries and offers the same kinds of services internationally. But the U.S. expansion represents a significant foray into the American legal marketplace. The firm is hoping to use its technical knowledge to optimize legal operations and provide alternative legal services solutions as opposed to pure litigation or courtroom representation.
The expansion puts KPMG in front of its **Big Four rivals—Deloitte, PwC, and EY—**who have not yet ventured into the U.S. legal market in this role. Experts indicate this may shake up traditional law firms by providing companies with a single-stop shop for legal, tax, and advisory services.
By combining legal technology solutions and corporate law services, KPMG will be in a position to compete with law firms and alternative legal service providers, changing the face of the future of legal and consulting services in the U.S. market.
