NEWS

Regulators Put PE Under the Microscope

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Private equity meets public trust.

By CPA Trendlines Research

The nation’s accounting regulators are signaling that private equity’s rapid expansion into CPA firms has reached a point that demands closer scrutiny.

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In a new white paper, the National Association of State Boards of Accountancy lays out a framework of questions that could shape the next phase of regulation for firms backed by private equity or operating under alternative practice structures. At the same time, senior officials at the Securities and Exchange Commission are warning CPA firms to remain focused on “the basics.” The AICPA is also considering revising its independence regime.

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Shutdown Shockwaves: How Accountants Keep the Government’s Books From Crashing | ARC

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Decode the financial fallout—where payables stall, nonprofits scramble, and the IRS slows to a crawl.

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Accounting ARC
With Liz Mason, Byron Patrick, and Donny Shimamoto
Center for Accounting Transformation

When the federal government shuts down, headlines focus on politics. But behind every furlough and frozen budget lies a deeper story—one told through accounting cycles, payroll ledgers, and cash flow reports. 

In the latest episode of Accounting ARC, hosts Liz Mason, CPA; Byron Patrick, CPA.CITP, CGMA; and Donny Shimamoto, CPA.CITP, CGMA, break down what really happens when appropriations stall and the business of government grinds to a halt. 

MORE Accounting ARC: Royalties, Residuals, and Reality Checks | ARC-SLC | Free Speech Is a Right; Respect Is a Responsibility | Cash Bags, Casinos & Audits: How First Jobs Shape Us | Gen Z Redefines Careers | Bootleggers, Baptitsts & CPAs: Rethinking Licensure | CPA Firm Ownership Under Fire | Walking Violation: When Showing Your CPA Gets You in Trouble | Audit Bags to TikTok Tags, Gen Z Talks Success | Students Challenge Accounting’s Traditional Career Path | True Grit: Recognizing Struggles That Shape Our Successes |More Admins, Fewer Students, No Plan | What Career Advice Gets Wrong for Gen Z – And How to Fix It | Your Identity is Not a Liability | Burnout, Be Gone: Accounting Needs a Boundary Breakthrough

“This is the kind of thing accountants think about,” Mason says at the start of the episode. “What’s the actual technical answer? What does a shutdown mean for accounts payable, for payroll, for the IRS? What’s really happening behind the scenes?” 

Their discussion reveals a complex web of accounting impacts—from unpaid invoices and delayed reimbursements to frozen nonprofit grants and confused taxpayers. 

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Free Speech Is a Right; Respect Is a Responsibility | ARC

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Timing, venue, and state law shape what you say—and what it costs.

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Accounting ARC
With Liz Mason, Byron Patrick, and Donny Shimamoto
Center for Accounting Transformation

This conversation focuses on practice, not politics. 

Accounting leaders are urging firms to pair open expression with professional responsibility as political tensions spill into workplaces and social media feeds. In a new episode of Accounting ARC, hosts Liz Mason, CPA, CEO of High Rock Accounting; Byron Patrick, CPA.CITP, CGMA, CEO of VERIFYiQ and co-founder of TB Academy; and Donny Shimamoto, CPA.CITP, CGMA, founder and managing director of IntrapriseTechKnowlogies and the Center for Accounting Transformation, outline practical guardrails for speech that keep trust at the center. 

RELATED ARC: Talk Politics Professionally | Cancel Culture or Curious Culture? You Choose (Assumed Discrimination) | What Happens in Vegas…Gets Reported on a Tax Return (Working in “Sin” Industries) | Your Identity Is Not a Liability (Pride Week) | Etienne: Decoupling DEIB – A Nuanced Approach |

MORE Accounting ARC: Cash Bags, Casinos & Audits: How First Jobs Shape Us | Gen Z Redefines Careers | Bootleggers, Baptitsts & CPAs: Rethinking Licensure | CPA Firm Ownership Under Fire | Walking Violation: When Showing Your CPA Gets You in Trouble | Audit Bags to TikTok Tags, Gen Z Talks Success | Students Challenge Accounting’s Traditional Career Path | True Grit: Recognizing Struggles That Shape Our Successes | More Admins, Fewer Students, No Plan | What Career Advice Gets Wrong for Gen Z – And How to Fix It | Your Identity is Not a Liability | Burnout, Be Gone: Accounting Needs a Boundary Breakthrough

The conversation opens with a condemnation of political violence and a call for grace as individuals and firms process fast-moving events. From there, the hosts shift to the workplace: what employees say online and in public often follows them to the office, and leaders must navigate the implications for culture, clients, and brand. 

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Intuit Fires Back with Agentic AI after Xero Nabs Melio

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In an escalating arms race, the general ledger is the new gateway to advisory.

Intuit’s Agentic AI team: CDO Srivastava, CTO Balazs, CEO Goodarzi

By Rick Telberg
CPA Trendlines Research
Cornerstone Report

Just a day or two after Xero shook the accounting world with its $3 billion acquisition of B2B payments platform Melio, Intuit is launching its strategic salvo: A new suite of generative AI agents built into QuickBooks.

SEE Xero Buys Melio for $3 Billion in Race for ‘The Active GL’ | MORE Tech and Fintech | MORE Artificial Intelligence | MORE Cornerstone Reports, in-depth data-driven analysis and commentary

The agents promise to automate payment reminders, reconcile bank transactions, forecast cash flow, and even draft client emails — all without human intervention.

The initiative is pivotal in the escalating arms race among accounting tech giants to dominate the general ledger. The general ledger is no longer just a recordkeeper in this rapidly transforming space. It’s becoming the operating system for every small business financial decision — and the battleground on which legacy players and startups are staking their futures.

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