Effectively - private equity (non-CPAs) is controlling public accounting firms.

Does this not cheapen the value of a CPA?

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Yes 100%

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PE has been great for my firm and career, as a CPA, so far.

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No I work the same as I did before PE, but I’m paid more, have better benefits and more firm resources.

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Time and technology have cheapened the value mostly. PE ownership of firms doesn’t cheapen the value of CPA but it does make it less desirable. Unless regulations change, even a PE owned firm will need to employ a CPA in order to operate.

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There are fake job listings only recruiters are advertising for their firms

funny

I don’t think PE is ‘controlling’ the profession. Getting a lot of press, yes, but there’s about 100 PE investments, quite a few of those in top 25 firms, but none of the big 4 or huge swaths of smaller firms. So if you think in pure numbers or market cap wise, PE is still pretty small piece of the profession (maybe 10%).

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Why does it cheapen the CPA's value? I don't understand your perspective.

Get your license, get out of public, and own your own firm. Problem solved

What does that have to do with the value of a CPA?

And non doctors own hospitals and medical practices. And architecture firms are owned by non-architects. And PE firms even invest in law firms.

Does that diminish the value of a passing one’s medical boards, architect licensure or bar exam?

likesmart

There are problems with PE in CPA firms, but I don’t think it does anything to cheapen the value of the CPA.

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