From www.goingconcern.com: (US context) The AICPA’s Professional Ethics Executive Committee is soliciting public comments on proposed revisions to independence rules influenced by the rise of private equity investment in accounting firms.

The committee aims to enhance clarity regarding auditor independence, particularly concerning relationships with portfolio companies.

PE-backed firms have been restructuring to maintain a separation between their attest and non-attest services while acknowledging the need for robust protections to uphold audit integrity.