The Association of International Accountants (AIA) has launched a targeted survey to better understand professional views on the growing role of private equity (PE) investment in the accountancy and audit markets.
Private equity involvement in the profession has accelerated rapidly in recent years. While investment has historically focused on advisory, tax and accounting services, PE interest in firms with audit practices has also increased significantly, despite regulatory ownership and control restrictions. In the UK, recent surveys suggest that nearly half of leading accountancy firms are now open to private equity investment, with more than a quarter having already accepted PE funding.
As private equity investment becomes a more prominent feature of the profession, it raises important questions for accountants, audit practitioners, regulators and the public interest, including issues relating to:
- firm ownership and governance
- long‑term professional culture and independence
- regulatory compliance, particularly in audit
- investment in technology, talent and growth
- the impact on smaller firms and market structure
AIA’s research is designed to gauge accountants’ views on these developments, including both perceived opportunities and risks, and to understand how practitioners are experiencing PE interest in practice.
Informing AIA’s policy position
The findings of the survey will be used to inform AIA’s policy position on private equity investment and to ensure that the Association’s engagement with regulators, policymakers and other stakeholders reflects experience of the market and members rather than anecdote.
AIA intends to use the survey evidence to:
- assess how widespread PE approaches and transactions are across its membership and the wider sector
- understand differences in perspective between accountants in practice and in business
- identify regulatory or ethical concerns that may warrant further scrutiny
- support constructive engagement on future regulatory and policy discussions
Commenting on the survey, David Potts, AIA Director of Policy & Regulation, said: “Private equity investment is becoming an increasingly visible feature of the accountancy and audit markets, but its implications are not always well understood. This research project is about listening to accountants, understanding what is happening on the ground, and using that evidence to shape AIA’s policy position and engagement.”
