In the age of AI and private equity, what will it take for a tax firm to secure its talent, its value, and its future?

Across the tax, audit & accounting profession, the primary pressure points are the same: AI is absorbing the compliance work that once trained junior staff, while outside capital is changing how firms are funded, valued, and staffed.

This podcast digs into how tax firms can train the next generation to review work they never prepared, why firms are turning to private equity to fund technology and transformation, and how equity-based incentives are being used to recruit top talent. The podcast also explores what happens to billable hours and partner roles as AI takes on more work, and why firms must move from compliance to advisory work.

Why you should listen

1. Hear why the training pipeline is breaking — As AI takes over the preparation work that once built junior talent, firms still don’t know how to teach people to review work they never prepared.
2. Understand why equity is now the competitive weapon in the war for talent— As private equity-backed firms offer profit sharing and management incentive plans, what can independent tax & acounting firms do in response?
3. Get a blunt look at what’s coming — Learn what might be ahead, from changes in billable hours and partner roles, to AI usage becoming a compensation factor at the largest firms. Then, consider Allan’s challenge to every firm: If you’re no longer preparing returns in two years, what will you be doing?