article thumbnail

Private Equity in Public Accounting: Salvation or Ruination?

CPA Practice

The landscape of public accounting experienced an unprecedented shakeup in 2023, marked not by the usual suspects of annual updates or technological advancements, but by a surge of interest from an unexpected source: private equity (PE). These failures are not what our profession is used to with its slow pace of change.

article thumbnail

Illinois CPA Society Diversity Report Wins Awards

CPA Practice

The Illinois CPA Society (ICPAS)—one of the largest state associations serving the certified public accountant (CPA) community—is proud to share that its latest Insight Special Feature, “ A CPA Diversity Report: Uncovering the Barriers to Success ,” has been recognized with three distinguished publications competition awards this summer.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Retirement Plan Design for Physicians: Going Beyond the 401(k) 

Withum

Withum Wealth Management is neither a law firm nor a certified public accounting firm and no portion of the newsletter content should be construed as legal or accounting advice. He plans to retire in nine years. Solution: Combine a Solo 401(k) with a Cash Balance Plan.

article thumbnail

State CPA Societies in Action: Illinois CPA Society

CPA Practice

ICPAS serves an extraordinary community of more than 22,600 accounting and finance professionals in a variety of CPA and non-CPA roles positioned throughout the public accounting, corporate finance, not-for-profit, consulting, education, and government sectors. Giving Back.

Illinois 125
article thumbnail

Deferred Start Dates Are a Good Thing?

Going Concern

When firms offered deferral stipends in the wake of the global financial crisis, people went off and worked at non-profits, took lower-court clerkships, helped in political campaigns, did advocacy work for immigrants, took master’s degrees, or just traveled. Saliently, 10-15 percent didn’t come back to their firms.

article thumbnail

O’Connor & Drew Joins its Practice with Withum

Withum

On January 1, 2023, O’Connor & Drew, PC , a public accounting, tax and business advisory firm headquartered in Braintree, MA, today announced it joined its practice with WithumSmith+Brown, PC (Withum), a nationally recognized CPA and advisory firm with 20 offices and annual revenue of $450M, ranking in the top 25 firms in the country.

article thumbnail

Friday Footnotes: Opinions!; EY’s Blockchain Aspirations; KPMG Junior Reprimanded | 9.30.22

Going Concern

Each partner will receive an average distributable profit of £1,058,000 in the year to the end of May, about 33 times the UK’s average annual pay. Equity partners do not receive a salary but instead receive a share of profits as income, with 672 of them sharing £711m in profits in the 2022 financial year. Accountant Life.