Arthur Andersen, the professional services firm, is understood to be planning an internal overhaul in response to regulatory and commercial pressures on the industry. Proposals to be put to partners worldwide include spreading profits widely around the firm to attract and retain staff.

The plan sets Andersen on an opposing course to rivals Ernst & Young and PwC, which have decided to split their consulting businesses from their audit practices. Andersen's strategy of keeping the firm together risks incurring the wrath of the US Securities and Exchange Commission, which is concerned about potential conflicts of interest between firms' audit and consulting work.

"It's more difficult than a clear separation," said a person familiar with the firm. "It does have some frictional costs."

It is thought, however, that the firm will argue its internal controls are strong enough for it to satisfy regulatory concerns by amending its existing structure. The plan, likely to be put to partners this year, may involve changing some businesses from partnership structures to companies and giving them a degree of autonomy.

Andersen is thought to be considering releasing more information about its finances, in an attempt to allay concerns that firms lack capital to invest in technology. This would be a big departure for the firm, which has always sought to maintain a high degree of privacy.