Grant Thornton is asking employees if they want to own the firm by becoming a John Lewis-type mutual organisation.
Last week, 99% of the the accounting firm's 185 partners supported a proposal to consult on changing the firm from traditional partner-run to become a shared enterprise.
Grant Thorntonsaid allowing all of it's 4,500 UK workers to share in the firm's profits and have a say in how it's run would be a "more inclusive form of ownership, which will be attractive to its people and its clients".
Sacha Romanovitch, CEO-elect at Grant Thornton UK, said: “My ambition is for all of our people to have a stake in Grant Thornton becoming the go-to firm for growth.
"The only way we can fully harness the potential of all 4,500 of our people is through shared enterprise - a sense that we are all in this together sharing our thinking and ideas, sharing the responsibility to drive the business forward and sharing in the resulting rewards."
Businesses with shared ownership structures significantly outperform other businesses in sales and productivity, Romanovitch said.
Grant Thornton said it expects that the first part of its new structure will be ready by 1 July.
Phil Shohet, senior consultant at Foulger Underwood, who advises accounting firms how to run their practice, said he didn't know of any professional services firm that's owned by it's employees. He said it was a "brave move" that should help Grant Thonrton recruit staff but would require a "huge" change in its management culture.
"I think there's every chance it will succeed if they get the shape of the business right," he said. But, he added, other accounting firms would probably watch how Grant Thornton's new structure works before deciding whether to follow it's example.
Previous attempts to re-invent accounting practices as listed companies have largely failed.
In 2014, Grant Thornton increased it's revenue by nine per cent for the year to June. It plans to double its profitability by 2020.