Public accounting partners: your (real) thoughts on the entrance of private equity?

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When have you seen a PE firm do something that benefits anyone other than the PE firm? I had two clients bled dry by PE firms, with both eventually going bankrupt. I want them as far away from my firm as they can be, unless they want to buy a practice from us. I'm a B4 partner, so I'm hoping they stick to the middle tier and smaller.

helpfullike

Buy me out! I’m ready!

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Agree with P1, devastating to the profession long term, concerned about quality, independence and the respectability of the profession, great for those partners with 10ish years left, terrible for younger partners and rest who are left with this mess in a few years.

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I mean partners own equity and will get bought out, roll some, and get a second bite of the apple. It’s the SMs and below who may get screwed.

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PwC 1: I’d imagine their future partner prospects become less.

likesmart

An absolute shit move. The fact that the regulator allows it while mucking around with disclosure of training hours and workload throughout the year shows exactly how bright they are.

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Very surprised by these answers. Thank you for being candid.

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