Beyond private equity: third party ownership in the accountancy and audit sector

This publication analyses and highlight both risks (such as on quality, independence, governance) and opportunities (including innovation, investment and growth). It also examines the motivations driving third-party ownership investors to enter the accountancy and audit market, and why parts of the profession are increasingly open to this evolution.

How have ownership models evolved?

Historically, most accountancy firms were partnerships owned and managed by practicing professionals. This ensured accountability and independence. As firms grew, many formed international networks, legally separate entities bound by shared standards and brands.

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