Professional services firms’ future hinges on private equity, Kroll chief says June 4, 2026 Private equity has been rewiring the professional services industry over the last few years, and with the sector undergoing enormous disruption from AI, stagnant growth, and a highly competitive market, PE investment is increasingly becoming a lifeline for firms to stay afloat. According to Jacob Silverman, chief executive of advisory and consultancy firm Kroll, private [...]
Staff burnout soars in professional services due to inefficiencies and outdated IT June 3, 2026 More than a quarter of client-facing staff at professional services firms are wasting a large portion of their working week on manual administrative tasks rather than core client work, according to new research by Unit4. The report, commissioned by Pierre Audoin Consultants (PAC), on global mid-to-large professional services firms, including those in the UK, revealed [...]
‘Clients pay for expertise, not process’ – Grant Thornton rolls out Anthropic AI June 2, 2026 Professional services giant Grant Thornton is rolling out Anthropic across its entire UK workforce as the firm seeks to embed AI in its services at a time when the technology is upending the industry. The accountancy firm’s UK arm said it will roll out Anthropic’s generative AI service, Claude, to all partners across its audit, [...]
Private equity-backed Ryan triumphs in bidding for European tax adviser Svalner Atlas June 1, 2026 Private equity-based US accountancy firm Ryan has reportedly agreed to acquire European tax adviser Svalner Atlas Advisors in a deal reportedly worth $400m. Headquartered in Texas and with a presence in London, Ryan specialises in tax services and has BP and BAT among its clients. The firm was valued at about $7bn earlier this year, [...]
Deloitte and KPMG challenge PwC’s iron grip on FTSE 100 clients June 1, 2026 For the first time in nearly eight years, three of the Big Four giants, Deloitte, KPMG and PwC, are locked in a dead heat for FTSE 100 client dominance. A boardroom reshuffle has loosened PwC’s iron grip on clients from London’s blue-chip index, forcing a historic three-way tie at the top of the FTSE 100 [...]
Private equity boom slows down as the deal bar rises for City firms May 29, 2026 Private equity interest in professional services remains, but the era of easy deals is over as most attractive targets have already been acquired, and investors are now more selective, writes Maria Ward-Brennan. The bubble around private equity interest in the professional services industry has started to deflate, as most of the “low-hanging fruit” has already [...]
Watchdog slaps BDO with £2m fine over serious audit failings May 28, 2026 Accountancy giant BDO and the former head of its London audit group have been slapped with sanctions by the accounting industry watchdog over its work on the construction engineering firm NMCN. The Financial Reporting Council (FRC) imposed sanctions on the firm and its former partner, Geraint Jones, for significant and serious breaches during the 2019 [...]
Ex-KPMG led accounting giant stalls £1bn sale May 25, 2026 One of the UK’s largest accounting firms founded by a former KPMG head has put a £1bn auction on hold despite receiving a wealth of interest from investors. Sumer, a ‘consolidator’ firm that buys majority stakes in smaller independent accounting companies, had hired advisors at boutique advisory Continuum last September to oversee a review on [...]
Accountants ‘still in high demand’ despite AI impacting sector May 22, 2026 Accountants in the UK are still in high demand despite the impact of AI on the sector, according to new research from the Institute of Chartered Accountants (ICAEW). The body, which regulates and supervises around 12,000 accountancy and audit firms in the country, said that accountants “are still in high demand” even as AI reshapes [...]
BDO picks US audit leader for senior partner role May 20, 2026 Mid-tier advisory firm BDO’s equity partners have voted to name Iain Henderson as the firm’s next senior partner. Henderson will take office on 1 October 2026, succeeding Matthew White, who will have completed his maximum of two four-year terms in the senior leadership role. Unlike the role of managing partner, the senior partner oversees the [...]