From www.accountingtoday.com: (US context) Firms are increasingly adopting alternative practice structures to facilitate private equity investment and improve operational efficiency.

An APS separates firms into at least two distinct entities—one for attest work and another for non-attest services—allowing for non-CPA ownership and better risk management.

This structure enables firms to attract younger talent with equity opportunities and isolate liability, fostering growth in an evolving accounting landscape.