As I reflect on the current state of the accounting profession, the sense of a sea change is ubiquitous. For those of us who love what we do, value the colleagues and clients with whom we work, and are proud of the services we provide, there is more opportunity than ever to help them succeed as the traditional CPA firm model is energized and transformed by new capital, strategies and innovations.
A major contributor to this transformation has been the growing number of partnerships between accounting firms and private equity investors. Accounting has attracted the attention of PE due to the growth potential of diverse business advisory services, along with the importance of stalwart attest services in a rapidly evolving business world. It's no surprise, then, that PE has partnered with our firm, Eisner Advisory Group LLC, as well as several other top-tier firms.
While opinion varies as to the impact of PE partnerships on the profession, I can say that Eisner's experience has been very positive.