William Kelly, Chief Counsel at Ascend, a platform for PE-backed accounting firms, delves into alternative practice structures (APS) in the accounting world. He highlights how APS diverges from traditional models, emphasizing their growth since the 1990s. The fascinating discussion covers the appeal of APS for attracting new talent, the legal landscape that allows non-CPA ownership, and the rise of multi-disciplinary practices. Kelly also tackles the challenges posed by private equity and the necessity of maintaining compliance and independence within evolving firms.
