Multidisciplinary practices: Never say never?

Multidisciplinary practices: Never say never? This month’s contribution to the ongoing Millennium Series provides three opposing perspectives on the controversial topic of multidisciplinary practice (MDP). Two professions that no one ever thought would live under the same roof are being asked to cohabitate to benefit their clients and themselves. The authors provide ample food for thought as the MDP debate—which has largely been resolved overseas, in favor of union—continues to rage in this country.

The United States is unique, and, especially where accounting and legal practices are concerned, the obstacles and issues are huge. For example, independence: Can a single firm audit a business’s financial statements while providing litigation and other legal services?

In the end, market forces and consumer preferences will go a long way in dictating the future shape of the two professions. For now, both sides see ownership and management as key to a firm’s identity and nature and value this identity over uncertain pressures to join together. Nevertheless, as one author suggests, the change may be inevitable and eventually the two sides may create a mutually beneficial solution. The end to this story yet to be written.

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