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November 30, 2022


r d

The publication of Big 4 Financial Statements will only serve to increase the demands of litigious law firms who will increase their demands if they see the levela of assets that are controlled by the Firms.
Additionally, if the Big 4 firm fully records its unfunded partner pension liabilty, it will be deemed insolvent.

Jim Peterson

Thanks - except that, as my later installments discuss, the firms are "asset light" compared to other large entities, which is what puts their survival at risk -- as is already well known, and as published financial statements would confirm (see the practice in the UK).
As for their pension liabilities -- local law would provide the framework under which they could choose to be funded or not, for partners -- a separate issue.

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