There are now three real ways to get a QoE. They serve different deal sizes, budgets, and risk profiles.
Quality of Earnings analysis used to be a binary choice: do it yourself in Excel, or hire a CPA firm. Shepi adds Self-Service software and a Done-For-You tier with licensed CPA review. Here's how the three stack up.
Overview
Quality of Earnings work spans a spectrum — from a buyer kicking the tires pre-LOI to a lender-mandated, firm-attested report on a $50M deal. The right tool depends on where your deal sits on that spectrum.
The Three Options
shepi DIY — $1,000 / project
Self-serve software. You upload data, the platform structures the workflow, you apply judgment and produce the workbook. 2–4 hours of your time.
shepi DFY — $5,000 / project
Shepi prepares the analysis through the guided workflow, and a licensed CPA reviews the analysis.
Traditional CPA Firm — $20,000+
Full engagement with an accounting firm. Includes management interviews, independent verification, firm letterhead, and firm-level E&O. 4+ weeks from kickoff.
Side-by-Side
| Factor | shepi DIY | shepi DFY | Traditional CPA Firm |
|---|---|---|---|
| Cost per project | $1,000 | $5,000 | $20,000+ |
| Timeline | 2–4 hours of work | 48–72 hours from match | 4+ weeks |
| Professional attestation | No | No — CPA review only | Depends on engagement |
| CPA review | No | Licensed CPA review | Defined by firm scope |
| Lender acceptance | Most will not accept | Varies by lender | Depends on lender and scope |
| Management interviews | Not included | Not included by default; available as upgrade | Included |
| Who does the work | You | Matched licensed CPA, on shepi software | Firm staff |
| Deliverable | User-directed, no CPA review | Source-linked package with CPA review | Firm deliverable |
Speed & Timeline
DIY is the fastest path to some answer — a few hours of your own work. DFY adds time for licensed CPA review. A traditional firm engagement runs 4+ weeks from kickoff and often longer in busy season.
When to Use Each Approach
DIY for screening pre-LOI
You're deciding whether to pursue a deal and need fast directional analysis you control end-to-end.
DIY for analysts who do this often
You have the chops and just want better tooling than Excel templates.
DFY when CPA review helps
You want a licensed CPA to review the analysis before delivery.
DFY for searchers and brokers
You want more review than Self-Service provides without starting with a traditional firm engagement.
Traditional firm for $10M+ EV deals
A $20K–$50K QoE is immaterial relative to deal size, and you want full management interviews and independent verification.
Traditional firm for regulatory or board mandates
Specific firm requirements, complex accounting issues, litigation exposure, or board/investor mandates.