Accounting Influencers

"Private Equity Impact in Accounting: Gary Shamis"Rob Brown talks to Gary Shamis about his experience in the accounting industry, from working for one of the Big Eight accounting firms to growing his own accounting firm and eventually selling it to BDO. He also discusses private equity in the accounting industry and the challenges facing the industry.Key Takeaways➤ Private equity firms increasingly invest in various industries, including accounting and financial services. As a result, many accounting firms are shifting their focus to represent private equity and portfolio companies to maintain business and grow their revenue.➤ Private equity partners often have a controlling interest in the companies they invest in and their primary focus is on a return on investment. This can create tension with managing partners trying to implement growth strategies and manage the company's complex operations.➤ Private equity deals between young and old partners are critical, as there may be differences in goals and priorit