NASBA Private Equity Task Force White Paper – Alternative Practice Structures and Private Equity
Alternative practice structures and private equity investment are reshaping the accounting profession, creating growth and succession opportunities while raising concerns about independence, audit quality and public trust. Regulatory frameworks must evolve to ensure consistent oversight and protect public confidence.
In response, the NASBA Private Equity Task Force issued a White Paper on alternative practice structures and private equity investment in CPA firms. TXCPA’s Peer Review Committee provided comments, commending the task force for its forward-looking approach and sharing the committee’s perspective on this important issue for the profession.
The committee concluded that while alternative practice structures can provide meaningful benefits, including access to capital, modernization and succession solutions, these advantages must not come at the expense of independence, professional judgment or public protection. They emphasized the need for clear national standards, stronger coordination among state boards and consistent firm disclosure requirements to ensure regulatory effectiveness and maintain public confidence, regardless of ownership structure.
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