A surprise turn in the economic stature of consultants means that Brexit has provoked a boom in demand for legal and financial services as UK businesses race to make sense of the situation ahead of the UK leaving the EU.
KPMG, one of the fourth largest accountancy firms in the world, has created a head of Brexit position to manage client advice as the UK leaves the EU.
The announcement suggests accountancy firms could benefit from the post-referendum uncertainty as more and more clients try to make sense of what the outcome of the referendum means for them, and how they should deal with the backlash of uncertainty.
Steve Varley, UK chairman at EY, announced that they had a team in place to prepare for the potential outcome of the referendum – remain or leave – since last year.
“We are already working with many of our clients on the impact of the EU Referendum on their business. Brexit will affect their business strategy, supply chain, funding, tax position, regulation, growth opportunities and talent pipeline,” Varley said.
“We have a big and diverse team in the UK – in the heart of our business we have mobilised a group of more than 60 partners to help our clients respond. Given the importance of UK business in global trade, we are working with our global business to put together the right teams and solutions for our clients across the world,” he added.
Rick Cudworth, head of Deloitte UK’s Brexit Centre, said there has been a lot of interest from clients in understand the implications of Brexit for their business, with more than 10,000 joining their webinar on 24 June.