Accounting Giant RSM Explored Initial Public Offering
The firm is preparing its internal financial systems for a possible stock market flotation to fund future growth.
Updated on Oct. 1, 2026 in Public Companies
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Accountancy firm RSM is evaluating a potential initial public offering to secure capital for major acquisitions and international expansion. The firm has begun upgrading its internal systems to meet the requirements of a public company.
Why it matters
The shift reflects a broader industry response to increased competition from private equity-backed accounting firms. Executives are exploring public markets to gain access to capital that exceeds what current partners can provide.
The RSM alliance generates over $5 billion in annual revenue as it considers joining the public market. This follows the December 2025 listing of Andersen Group, which now holds a market capitalization of $6 billion.
The players
RSM
The fifth-largest accounting firm in the U.S. and seventh-largest globally, currently operating as a partnership.
Andersen Group
An accounting firm that debuted on the New York Stock Exchange in 2025 and currently maintains a market valuation of $6 billion.
CBIZ
A professional services provider that served as the only standalone publicly traded accounting firm for three decades before an acquisition deal.
Grant Thornton
A global accounting network that agreed to acquire CBIZ in 2026 for $5 billion.
The details
RSM is currently consulting with bankers to determine the viability of a flotation for the 100-year-old partnership. The move involves restructuring internal financial systems to match the transparency and reporting standards required of public entities. This shift comes after a period of consolidation in the sector, including Grant Thornton’s agreement to acquire CBIZ for $5 billion in July 2026.
Timeline
RSM returned to private ownership in 2011.
RSM Tenon collapsed in 2013.
Andersen Group floated on the New York Stock Exchange in December 2025.
Grant Thornton agreed to acquire CBIZ for $5 billion in July 2026.
RSM launched an internal exploration of a potential IPO in October 2026.
Market Landscape
RSM’s move follows the December 2025 initial public offering of Andersen Group, which established a recent precedent for public listings in the professional services sector. This trend highlights a departure from the traditional partnership model in favor of public capital to fuel consolidation.
Business operators should monitor this transition as a signal of shifting capital strategies among major professional services firms. Organizations reliant on accounting partners should evaluate how a potential move to public ownership might influence their service stability and fee structures.
The takeaway
The potential shift at RSM underscores a move toward public ownership to compete with private-equity backed rivals. Operators should track the firm’s progress and review their current professional service agreements for any clauses affected by a potential change in corporate structure.
Further reading
For more on market trends among large firms, visit Public Companies.
Source note: This article includes information reported by Financial Times News.
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