The International Federation of Accountants released data on the growth of private equity in the global accounting profession.
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It found that over 1,000 firms worldwide — concentrated in Europe, the U.S., the U.K. and Ireland — have received PE investments over the past 10 years, with activity significantly accelerating since 2022. Additionally, fewer than 200 PE investments have facilitated nearly 900 subsequent transactions, highlighting a wave of consolidation in the profession.
"Regardless of ownership structure, the integrity, quality and independence that underpin our work as professional accountants must remain nonnegotiable," IFAC CEO Lee White said in a statement. "Trust, confidence and a steadfast commitment to the public interest are what define the profession — and they must continue to guide its future development. Some firms are exploring private equity as a way to accelerate transformation, strengthen their capabilities and offer new career pathways."
IFAC's Fiona Wilkinson commented, "As chair of a task force of volunteers established by IFAC last year, I have had the opportunity to talk with many experts representing different points of view on the potential risks and benefits of PE investment in the accountancy profession. Our approach has been balanced and data-driven. I encourage leaders in the profession to do the same and to assess whether or not, over the long run, firms that focus on the benefits and opportunities of PE investment — while managing the potential challenges and risks — can become more resilient, future-fit, and more attractive, while upholding their public interest responsibility."
IFAC is a global organization that represents over 188 professional accountancy organizations in over 140 jurisdictions.
