ETA Quality of Earnings Cost (2026)
ETA-stage QoE engagements have historically run $25,000–$75,000. Shepi runs the same analytical workload starting at $1,000 per project — pre-LOI screening becomes economically viable.
$25K–$75K
Traditional CPA QoE
$1,000
Shepi per project
2–4 hrs
Initial analysis time
What ETA QoE Costs
For an Entrepreneur-Through-Acquisition (ETA) or self-funded search deal — typically $1M–$10M in EBITDA — a traditional QoE engagement from a regional CPA firm runs between $25,000 and $75,000. National firms charge more. The work takes 4–8 weeks, with analyst time consumed by data normalization, account mapping, and GL review before any judgment is applied.
That cost structure made screening with a real QoE impossible. Searchers had to commit to LOI on seller-reported numbers, then absorb the $30K+ surprise during exclusivity if EBITDA didn't hold up.
Where the $25K–$75K Goes
| Phase | Traditional CPA QoE | What it costs |
|---|---|---|
| Data ingestion & mapping | Manual COA mapping, trial balance normalization | ~30% of fee |
| EBITDA adjustments | Analyst combs the GL line-by-line | ~25% of fee |
| Working capital schedule | Multi-period NWC build-out | ~15% of fee |
| Revenue quality | Customer concentration, recurring classification | ~10% of fee |
| Report drafting & review | Partner review, formatting, narrative | ~20% of fee |
Shepi vs CPA Firm — Cost Side-by-Side
| Dimension | CPA Firm QoE | Shepi |
|---|---|---|
| Per-project cost | $25,000–$75,000 | $1,000 (DIY) / $5,000 (DFY with CPA review) |
| Timeline | 4–8 weeks | Hours to days |
| Pre-LOI screening | Cost-prohibitive | Routine |
| GL coverage | Sample-based | 100% of transactions |
| Re-runs after data corrections | Bill again | Included |
| Output format | PDF + custom Excel | Lender-ready PDF + structured Excel export |
| CPA attestation | Available | Not offered — analysis only |
When You Still Need a CPA
Lender requires formal attestation
Some larger SBA 7(a) loans or non-SBA acquisition financing require a CPA-attested QoE. Shepi is analytical software and does not issue attestation opinions.
Tax structuring opinions
Asset vs stock, 338(h)(10) elections, NOL preservation — these need a tax advisor, not QoE software.
Audit-level assurance
If equity investors or your lender want audit-level work over QoE-level analysis, that's a different engagement entirely.
For the other 90% of ETA deals — screening, validating seller numbers, building the EBITDA bridge for your IC memo, pre-LOI diligence — Shepi covers it.