私募基金涌入全球会计师事务所

Core Viewpoint - Private equity (PE) funds are increasingly investing in accounting firms globally, with half of the top 30 accounting firms in the U.S. accepting such investments to cover high costs associated with AI and other technologies [2][4]. Group 1: Investment Trends - In the U.S., Wipfli accounting firm announced it will accept an investment from New Mountain Capital, with the firm's economic value exceeding $1 billion and the fund's stake being approximately 40% [4]. - A survey by Koltin Consulting Group indicates that by 2025, 15 out of the top 30 accounting firms in the U.S. will have accepted private equity investments [4]. - In the UK, a survey by Kingsley Napley found that 27% of the 22 surveyed major accounting firms have accepted private equity funding [4]. Group 2: Structural Changes - Traditionally, accounting firms relied on personal investments from partners, with few examples of public listings [4]. - Private equity funds aim to recover their investments through options such as resale to other funds or initial public offerings (IPOs) [4]. - Restructuring through AI investments or mergers and acquisitions (M&A) can enhance economic value, allowing for profitable exits [4]. Group 3: Concerns and Regulatory Perspectives - There are concerns that accepting private equity funding may undermine the audit independence of accounting firms, as highlighted by executives from large auditing companies [5]. - In Japan, legal restrictions currently limit investments in audit firms to individual certified public accountants and tax accountants, suggesting that this trend may not extend to Japan [4][5].