PEEC to continue discussions on alternative practice structures

Last week, the AICPA’s Professional Ethics Executive Committee (PEEC) discussed revised changes to guidance in the AICPA Code of Professional Conduct related to firm independence and alternative practice structures, such as those funded by private-equity investments. PEEC also discussed revising the definition of “network firm” and adding a new interpretation prohibiting attest client investment in firms.

PEEC agreed to continue discussions at an interim October meeting on issuing a second exposure draft of Proposed Revisions Related to Alternative Practice Structures.

A video of the August meeting is available (member login or free account registration required).

Once an exposure draft is issued, a public comment period will allow stakeholders to offer feedback. Public comments on the original exposure draft, published in December 2025, spurred PEEC to consider additional changes.

— To comment on this article or to suggest an idea for another article, contact Neil Amato at Neil.Amato@aicpa-cima.com.