Private equity has already reshaped the accounting profession—but what happens next? In this interactive town hall, industry leaders will explore how capital, consolidation, technology, and talent pressures are transforming firm ownership and operations. Will private equity become the dominant ownership model? Can independent firms continue to compete and thrive? And what will the next generation of accounting firms look like five to ten years from now? Join this forward-looking discussion on the forces shaping the future of the profession and what firm leaders should be doing today to prepare for tomorrow.

Much of the conversation around private equity focuses on managing partners and firm CEOs. But how do younger partners view the changes taking place within their firms? In this session, partners from firms that have been operating under private equity ownership for two to three years will share how investment has affected career paths, leadership opportunities, firm culture, compensation, and long-term growth. Hear how the next generation of firm leaders is experiencing—and influencing—the evolution of the profession.

Technology has become the single biggest driver of capital demand in accounting, with firms investing heavily in AI, automation, workflow modernization, and tech stack optimization. But does private equity actually accelerate innovation, or simply provide the resources to move faster?

In this panel, technology leaders from three of the industry’s leading accounting platforms will discuss how access to capital, shared resources, and platform-level investments are influencing technology adoption across member firms. Attendees will gain insight into how firms are approaching AI, automation, tech stack consolidation, and operational modernization—and whether private equity is creating a meaningful competitive advantage in the race to build the accounting firm of the future.

Signing the deal is only the beginning. Once a firm takes on private equity investment, leaders must navigate new expectations around growth, accountability, governance, and performance—while continuing to serve clients and maintain firm culture.

In this panel, firm leaders will share what life really looks like after the transaction closes. What changes for partners and staff? How do budgeting, reporting, and decision-making evolve? What role does the investor play in strategy and governance? And what aspects of the firm’s culture, client relationships, and day-to-day operations remain largely unchanged?

Join firms that have already made the transition for a candid discussion on the realities, challenges, and opportunities of operating under private equity ownership.

Private equity transactions are far more complex than traditional accounting firm mergers. For many firm leaders, the process can be unfamiliar, time-consuming, and filled with unexpected twists.

In this panel, legal advisors, investment bankers, and a firm MP will walk attendees through the key stages of a transaction—from the initial letter of intent and valuation discussions to due diligence, quality-of-earnings reviews, and final deal negotiations. Panelists will explain how enterprise value and EBITDA are assessed, why deals sometimes get re-priced, how rollover equity works, and the unique challenges of allocating value within partnership structures.

Whether your firm is actively considering a transaction or simply exploring its options, this session will provide a practical roadmap for understanding the deal process and avoiding common pitfalls.

A successful private equity transaction involves far more than valuation. Before firms move forward with a deal, they must determine whether a potential partner is the right fit culturally, strategically, and economically. In this panel, accounting firm leaders who have partnered with outside capital will discuss the key conversations, evaluations, and decision points that occur before a transaction is completed.

From assessing strategic alignment and long-term goals to evaluating cultural fit and economic outcomes, panelists will share the lessons they’ve learned, the questions every firm should ask, and the due diligence required to make an informed decision.

Attendees will gain a practical framework for evaluating opportunities, aligning partner groups, and determining whether a potential partnership creates lasting value for the firm, its people, and its clients.

Private equity isn’t inevitable. Accounting firms today have more options than ever—including remaining proudly independent. But independence requires firms to proactively address many of the same challenges that are driving others toward outside capital: growth, succession, talent, technology investment, partner retirements, capacity, and long-term strategic planning. In this session, firm leaders who have chosen to stay independent share how they’re building sustainable, competitive firms on their own terms.

Technology has become one of the most important drivers of growth, efficiency, and firm value. As accounting firms face mounting pressure to modernize operations, leverage AI, improve the client experience, and create capacity, technology investment is increasingly being viewed as a strategic capital decision rather than a routine operating expense. In this panel discussion, thought leaders from some of the profession’s leading technology vendors will share their perspectives on where firms are investing today, the capabilities firms will need to remain competitive tomorrow, and how firm leaders should think about prioritizing future technology investments.

For decades, accounting firms relied on a predictable formula for growth and ownership transition: Partners funded the next generation, firms financed growth from operations, and independence was the default path forward. That model is increasingly under pressure.

Accounting Today’s 2025 research revealed that one in three firms now report needing capital, driven by rising technology and AI investments, acquisition opportunities, talent challenges, and the growing cost of partner succession. At the same time, aging ownership groups and rising firm valuations are making traditional partner buyout models harder to sustain, forcing firm leaders to reconsider how they fund growth, transition leadership, and remain competitive.

This opening session will explore the structural forces creating capital pressure across the profession and examine the strategic choices firms now face.

Our conference co-chairs sit down with Dan Hood for a candid discussion on the changing economics of firm ownership, the realities of succession planning in today’s market, and the funding models that will shape the next generation of accounting firms.