Episode 62. In today's news episode, Rob Brown and Martin Bissett discuss "The New $1.4bn Accounting Firm & What It Means to You."
When two big accounting firm merge to create an entity with more than 5,400 team members across 68 markets in 27 states, including the United Kingdom, it makes the news. What you need to know is how this affects you as an accounting practitioner, CPA, bookkeeper or practice leader/owner.
Key takeaways from this episode include:
➩ getting behind the figures on one of the biggest M&A deals in accounting firm history
➩ asking whether this kind of deal is the first of other 'mega-mergers' in the accountancy and fintech world
➩ what the majority of the $1.4bn revenues are likely to be made up of in terms of services with this huge accounting firm merger
➩ the main good and bad impacts on the accountancy marketplace when big accounting firms merge
➩ why accounting firm mergers like this create both opportunities and threats for the staff and the clients involved
➩ how other accountancy firms can take advantage of big corporate mergers like this
➩ what all mid-tier accounting practices need to be doing to take full advantage of M&A activity like this
➩ why no accounting firms are off limits when it comes to mergers and acquisitions if big deals like this are viable
➩ the three upsides of 'getting and staying close to your clients' for accounting practitioners and CPAs in turbulent markets
Sources:
https://www.accountingtoday.com/news/bkd-merges-with-dhg-to-create-1-4b-firm
https://www.accountancytoday.co.uk/2022/02/21/us-firms-bkd-and-dhg-unveil-1-4bn-merger-plans/
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NOTE TO LISTENERS:
The Accounting Influencers Podcast is a CPE-accredited daily radio-style show with four segments coming out every Monday which are repeated on the other 4 weekdays as standalone episodes, plus a bonus 'from the client's perspective' episode on Saturdays. On Sundays, listeners get a short min trailer for the coming week's episodes.
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