New Accounting Rules Put M&A Fees Under Spotlight
London law firms look set to face greater scrutiny on bills thanks to new accounting rules that mean M&A fees will directly hit clients' bottom line. The new regulations, drawn up by the International Accounting Standards Board and the U.S. Financial Accounting Standards Board, mean that the costs of legal and financial advisory fees racked up on major deals -- often in the millions -- will be subject to greater scrutiny, with shareholders able to see the direct impact of deal costs on profits.
