TWR Podcast Episode 116: The Gold Rush of Accounting: Tech, AI & Private Equity

How firm owners can prepare for change, capitalize on CAS, and position for sale in a shifting profession

In this episode of The Woodard Report Podcast, host Heather Satterley sits down with Todd Robinson, Director of Practice Engagement at Woodard, to explore the rapid evolution of the accounting profession. Together, they unpack why private equity is taking a serious interest in accounting firms, how firms can prepare to sell or scale, and what role artificial intelligence (AI) is playing in shaping the future of the profession.

Why private equity wants a piece of your practice

Private equity firms are actively investing in accounting practices—but why? According to Todd, it comes down to recurring revenue and scalable business models.

“Firms are operating a lot more efficiently. These are very profitable monthly recurring engagements... And that’s what private equity wants.”

As more firms adopt client advisory services (CAS) models, they generate consistent income and demonstrate value—qualities that appeal to private equity investors seeking reliable returns.

From desktop to cloud to AI: How tech is reshaping the industry

The cloud accounting transition began more than a decade ago and continues to evolve—and artificial intelligence is accelerating that transformation at an unprecedented pace. Heather highlights the rapid adoption of tools like ChatGPT, noting, “It was a matter of months… to reach 100 million users."

Todd adds perspective from his own experience: “Five years ago, people thought I was crazy… but now people get it.”

AI is no longer a futuristic concept—it’s a powerful force actively reshaping the way accounting professionals work today.

What makes a firm sellable?

Whether you’re planning to exit in two years or ten, both hosts stress the importance of preparing your firm now. Heather shares how, during the sale of her first firm, she hadn’t even considered it a “saleable asset” until approached by a buyer. Today, firms that have modernized and productized their services are in high demand.

“Most people do not want to buy a fixer-upper,” she says.

Buyers are looking for turnkey operations—cloud-based, process-driven, and profitable. Woodard’s Buy/Sell Program connects firm owners with buyers across the Woodard community. While Woodard doesn’t act as a broker, the program helps sellers explore options and begin meaningful conversations.

AI won’t replace accountants—but it will reshape the role

Despite concerns about automation replacing human professionals, Todd reassures listeners that AI is more of a collaborator than a competitor.

“There’s still the human side, the advisory side of what our profession does… The need for the human touch and intervention.”

AI will likely automate certain tasks—like basic tax returns—but it will also empower accountants to focus on strategic, relationship-based services.

Client attrition and evolving service models

Client attrition is another theme the episode explores. As firms modernize their service offerings and pricing structures, some clients may choose to leave—or be “optimized” out. Heather shares how the public still clings to outdated expectations, like $125 tax returns, which no longer reflect the value or complexity of modern accounting services.

Todd encourages firms to shift their energy toward CAS offerings and upselling higher-value services to their best clients.

Prepare now for the future of the profession

AI, automation, and private equity are accelerating changes that are reshaping the accounting landscape. Todd offers a final piece of advice:

“What private equity is wanting to acquire is a platform… That makes it much easier for them to go out and acquire other types of practices… and fold that clientele into that platform model.”

Whether your goal is to sell, scale, or sustain your business for the long term, the time to invest in systems, people, and strategy is now.