KPMG last week became the third member of the Big Four to ink an alliance with a U.S. law firm, when it partnered with Ogletree, Deakins, Nash, Smoak & Stewart.

Now, as observers carefully watch for any moves by EY—the only Big Four firm that hasn’t yet sealed a partnership with Big Law—the benefits of such arrangements are coming into focus. The law firm participants and legal industry consultants say those benefits include global scale and more client business for each side.

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