From www.icaew.com: (UK context) The UK accountancy industry is undergoing significant changes due to structural economic shifts and technological advancements, attracting private equity (PE) investment as firms seek to modernise and consolidate.

Mid-tier firms have increasingly engaged in mergers and acquisitions, with a notable percentage considering PE investment to enhance growth and retain talent, despite concerns about audit quality and regulatory compliance.

Research indicates strong interest in PE ownership within the sector, with clients generally optimistic about the potential benefits, though many express hesitancy about changing auditors if their firm is acquired.