Independence
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Ownership and vendors Who may own a firm
Singapore's Accounting and Corporate Regulatory Authority Says Public Accountants Must Retain Effective Control Under External Private Capital Arrangements
In a practice direction issued on April 6, 2026, Singapore's Accounting and Corporate Regulatory Authority sets out what it expects of accounting entities "considering, implementing, or operating under" arrangements "that introduce non-public accountant ownership or economic participation in an accounting entity."
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Ownership and vendors Who may own a firm
The FRC Says It Is Not in Principle Against Greater Participation of External Private Capital in the UK Audit Market
In a letter dated September 26, 2024, the UK's audit regulator said that ownership structures are "a matter for the firms" and that it is "not in principle against a greater participation of external private capital in the UK audit market." The same letter says there are "important risks that will need to be carefully managed."
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Ownership and vendors Who may own a firm
Considerations and Questions for Boards of Accountancy: NASBA's White Paper on Private Equity in CPA Firms, October 2025
A white paper dated October 24, 2025, from the National Association of State Boards of Accountancy sets out questions on private equity in CPA firms for the state boards that regulate them in the United States. It asked for comments by January 31, 2026.
