Global Outlook 2026–2027: How Independent Firms Are Navigating a Fragmented World
Insight from Praxity’s independent firms on navigating a more fragmented global landscape
Praxity’s Global Outlook 2026–2027 draws on insight from independent midtier accountancy, audit, tax and advisory firms across the global Alliance. Shaped by regional perspectives from firms operating on the ground, it highlights how diverging market dynamics, independence, technology and talent shifts are reshaping the profession.
This summary captures the most important themes from the full Global Outlook, offering decisionmakers a clear view of what the next two years are likely to demand, and where independent firms are finding opportunity.
How independent firms are building confidence in an unsettled global economy
Across regions, firms are working in an environment defined less by predictability and more by constant recalibration. Globalisation has become uneven. Regulation diverges by jurisdiction. Technology advances faster than organisational structures can absorb. Talent models are being reshaped from the inside out.
For independent midtier accounting and advisory firms, these shifts do not automatically signal disadvantage. In many cases, smaller scale, local judgement and strong client relationships provide the flexibility and trust needed to respond effectively, particularly when paired with confident crossborder collaboration.
“Risk has a double edge: uncertainty is real, but so is opportunity.”
Bernardo del Rio (Managing Partner, JA Del Rio) Praxity Management Board
Why fragmentation is increasing the value of professional judgement
For much of the past two decades, firms could assume gradual alignment in markets and regulation. Today, economic policy is becoming more protectionist, governments are reasserting control over strategic sectors, and geopolitical considerations increasingly shape commercial decisions.
For clients, this creates uncertainty. Markets that appear familiar on paper often operate very differently in practice. Rules may look aligned but are enforced unevenly. Supply chains shift rapidly, with regulatory and tax consequences across multiple jurisdictions.
As a result, human judgement is rising in value. While technology continues to automate routine work and process vast quantities of data, clients increasingly rely on advisers who can interpret context, explain implications and guide decisions where certainty is limited. Trust, judgement and relationship depth are becoming defining features of professional value.
Understanding regional divergence in a global profession
Although the same forces are present globally, their impact varies significantly by region. Understanding these regional patterns is essential for independent firms prioritising investment, managing risk and supporting crossborder clients.
Latin America’s nearshoring moment and its advisory implications
Latin America is benefiting from nearshoring as organisations move production and operations closer to North American markets. Mexico, Brazil, Colombia and parts of Central America are attracting investment based on proximity, responsiveness and growing sector expertise.
This momentum increases demand for crossborder advisory support, but also amplifies volatility. Regulatory and tax changes can be swift, creating a premium on immediate, coordinated advice. In this environment, deep relationships between independent firms enable rapid mobilisation when clients need answers before uncertainty slows decisionmaking.
Talent models in the region are evolving toward a diamond shape, with fewer entrylevel roles and greater responsibility placed on midlevel professionals earlier in their careers. Firms are investing heavily in internal development to strengthen judgement and retain globally mobile talent.
Scaling trust in a high growth Asia Pacific market
Asia Pacific offers significant opportunity alongside considerable complexity. Supply chain diversification continues to drive inbound investment across Southeast Asia, while governments actively promote digitalisation.
Clients increasingly expect seamless crossborder coordination, placing pressure on independent firms to align data handling, quality standards and working practices across jurisdictions with very different regulatory maturity.
Technology plays a central role in building trust. Secure data management, responsible AI use and clear interpretation of outputs are now core elements of the adviserclient relationship — even for small and midtier firms.
“Even small and midsized firms must incorporate AI. Clients expect it.”
Roy Lo, Managing Partner, SW, Praxity APAC Regional Chair
Europe’s regulatory reality and the value of independent advice
Europe continues to be characterised by modest growth, political fragmentation and dense regulation. ESG requirements, audit reform and antimoneylaundering obligations are expanding, often at different speeds across jurisdictions.
For independent audit and advisory firms, value increasingly lies not just in technical compliance, but in helping clients understand how overlapping regimes interact — and what is coming next. Independence requirements are among the strictest globally, reinforcing the need for clear governance and transparent safeguards.
Technology adoption tends to be cautious, with firms prioritising audit quality, professional integrity and longterm capability over rapid transformation. In Europe, progress is defined less by speed and more by measured judgement.
“Growth estimates over the next few years are not great, and that affects us.”
Andy Irvine, Managing Partner, Shorts, Praxity Management Board
Independence under the spotlight in a consolidating US market
North America is defined by scale and momentum. Private equity ownership and consolidation are accelerating decisionmaking, particularly in the midmarket.
Independence scrutiny is driven as much by market perception as by regulation. Clients are increasingly sensitive to ownership structures and often value advisers who can clearly demonstrate objectivity in investorled environments.
AI adoption is viewed optimistically, with firms focusing on capability rather than headcount. Technology is seen as a means of pushing work upward — enabling professionals to spend more time on analysis, scenario planning and strategic advisory.
“The structure of tomorrow is an upsidedown triangle, with technology doing most of the work.”
Marc Feigelson, CEO Elect, Kaufman Rossin, Praxity North American Regional Chair
The strategic pressures independent firms must balance
Across regions, four interconnected forces consistently shape strategy and decisionmaking for midtier accounting firms:
- Crossborder market dynamics and client delivery
- Independence under increasing scrutiny
- Talent transformation and capability development
- Technology adoption and governance
These forces are interdependent. Crossborder work heightens independence considerations. Technology reshapes talent models. Talent shortages drive collaboration. Strategic decisions must therefore be coherent across all four dimensions.
Implications for midtier firms: From insight to action
The Global Outlook does not point to a single optimal operating model. Instead, it highlights tensions that firms must actively manage.
Clients expect advisers who are close to their business geographically, while offering global confidence. Technology decisions have become boardlevel issues, grounded in governance rather than novelty. Talent strategies increasingly focus on developing judgement at the middle of the organisation. Independence must be visibly demonstrated, not assumed.
For independent accountancy and advisory firms, success in 2026–2027 will depend on deliberate investment in capability, governance and relationships, supported by genuine collaboration across borders.
Regional variants
Acting with clarity in an uneven global market
Fragmentation, speed and uneven progress are likely to persist. Within this complexity lies opportunity for firms that understand their regional context and act with clarity and confidence.
This feature offers a snapshot of Praxity’s Global Outlook 2026–2027 for independent accounting, audit and advisory firms. The full report explores these themes in greater depth, with regional analysis and practical playbooks shaped by Praxity member firms worldwide.
Read the full Global Outlook to explore detailed regional insight and practical guidance for navigating uncertainty in the years ahead, and discover further thought leadership from Praxity on talent, technology and governance across the profession.