AI to remake accounting as PE reshapes firm ownership
Accounting firms are about to look very different, thanks to AI.
Charles Weinstein, CEO of Eisner Advisory, says the old model is on its way out: firms will soon charge based on what they actually deliver.
At the same time, private equity (PE) money is changing who owns these firms and could spark some big mergers.
EisnerAmper grew India headcount to 1,100
Over the past three years, one-third of major US accounting firms outside the Big Four have landed PE investments: similar moves may also unfold in India's highly fragmented market.
EisnerAmper's own journey shows how quickly things can change: since expanding into India in 2006 with just six people, they now have 1,100 employees there.
After getting PE backing in 2021, they snapped up 30 companies and broadened their services, a sign of how much AI and new investment are transforming the industry for good.