All Offshore: The Sprat, the Mackerel, Accounting Firms, and the State in Globalization

Willmott, Hugh; Sikka, Prem

doi:10.1093/acprof:oso/9780199546350.003.0018

Cited by 2 publications

(3 citation statements)

References 28 publications

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“…In the light of the resistance to permitting the LLP form from the UK government in the early 1990s, the largest firms did not consider changing to a corporate form, but instead these largest of all global partnerships argued that the general partnership law is no longer an appropriate vehicle on grounds of sustainability and following extensive lobbying, a new vehicle, the LLP, was introduced limiting partners' exposure to risk in Jersey, Channel Islands (Sikka & Willmott, 2009;Boatright, 2007;Sikka, 2008). Partners of large accounting firms threatened to take their operations "off-shore".…”

Section: Partnership Law and Its Spawn: Did Llp Deliver On Its Promises?mentioning

confidence: 99%

“…The enactment of the United Kingdom Limited Liability Act of 1855 granted companies limited liability. Such freedom from liability did not pass to partnerships, as being in a partnership meant it was not recognised in law as a separate entity from its partners (Mackenzie 2008), although it was specifically the 1948 Companies Act 1948 which prohibited company auditors from trading through limited liability entities (Sikka and Willmott, 2009).…”

Section: Historymentioning

confidence: 99%

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Partnership Law and Its Spawn: Did LLP Deliver on Its Promises?

McMeeking¹,

Baskerville²,

Sim³

2017

Change Management: An International Journal

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Institutional theory discusses whether organizations increase their profitability and sustainability by converging around socially legitimated forms. This study contributes to the literature by examining the benefits of strategic choices (legal form) of accounting firms. The results suggest that the change in percentage of income from audit activities is different for partnerships than LLP firms. Inflation (CPI) adjusted revenues (fees per partner) is not statistically different from 2005 to 2013. We also observe that spread of offices, specialisation and the degree of hierarchy lead to efficiencies of operations and wealth enhancement (through changes in Revenues (Fees) per partner) but 'LLP choice' per se does not necessarily increase fees.

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Section: Partnership Law and Its Spawn: Did Llp Deliver On Its Promises?mentioning

confidence: 99%

Section: Historymentioning

confidence: 99%

Partnership Law and Its Spawn: Did LLP Deliver on Its Promises?

McMeeking¹,

Baskerville²,

Sim³

2017

Change Management: An International Journal

View full text Add to dashboard Cite

show abstract

“…After the exit of Andersen, concentration ratios in the large client markets increased to enormous levels (Beattie et al, 2003;Oxera, 2006) and in the UK, the supply of mid-tier firms fell, largely as a result of mergers and firms leaving the market, voluntarily or otherwise. The Big Four have a history of influencing policy, regulatory and professional bodies through their collective lobbying and other legitimation activities (Malsch and Gendron, 2013;Puxty et al, 1987;Robson et al, 1994;Sikka and Willmott, 2009). In the following analysis we first present our findings regarding research questions one and two, which reveal three social mechanisms associated with the dominance of the Big Four, namely rites of institution, euphemised discourse and socialisation.…”

Section: Setting the Scene: Professional Accounting Firms In The Ukmentioning

confidence: 99%