QoE for Accountants, CPAs & QoE Firms

Preliminary findings in 48 hours — complete reports in 1–2 weeks instead of 4–6.

2–3x

More engagements without proportional hiring

48 hours

Preliminary findings turnaround

1–2 weeks

Complete reports vs. 4–6 traditional

Demand for Quality of Earnings analysis is surging as more M&A transactions — especially in the lower middle market — require independent financial due diligence. For accounting firms, CPA practices, and dedicated QoE providers, this represents both an enormous opportunity and a staffing challenge.

The Growing Opportunity

Private equity firms, independent searchers, and lenders increasingly require QoE reports before closing acquisitions. The lower middle market alone sees thousands of transactions annually, and the pool of firms capable of delivering quality analysis hasn't kept pace with demand.

For firms that can deliver quickly and consistently, the economics are compelling: QoE engagements command premium fees, generate repeat business from deal-active clients, and create cross-selling opportunities for tax and advisory work.

Scaling Without Proportional Headcount

The traditional bottleneck is staffing. A senior analyst might spend 80–120 hours on a single QoE engagement, limiting most firms to a handful of concurrent projects. When deal flow spikes, firms either turn away work or burn out their teams.

AI-assisted analysis changes this equation. By automating the data ingestion, normalization, and initial adjustment identification, firms can handle 2–3x more engagements without proportional hiring. The analyst's time shifts from spreadsheet construction to judgment-intensive work: evaluating adjustment reasonableness, assessing business quality, and advising clients.

Firm Workflow with Shepi

Data ingestion

Connect directly to QuickBooks or upload financial statements. Shepi normalizes the data and maps accounts automatically.

Automated analysis

The platform identifies potential EBITDA adjustments, flags unusual transactions, and builds multi-period trending.

Analyst review

Your team reviews AI-identified adjustments, applies professional judgment, and adds deal-specific context.

Report generation

Export lender-ready QoE reports with supporting schedules, adjustment summaries, and working capital analysis.

Client delivery

Present findings with confidence, backed by comprehensive analysis and clean documentation.

Client-Ready Deliverables

The output matters as much as the analysis. Shepi produces institutional-quality deliverables:

Adjusted EBITDA bridge

Clear walk from reported to adjusted earnings with categorized adjustments

Working capital analysis

Normalized working capital with peg calculations

Revenue quality assessment

Customer concentration, recurring vs. non-recurring revenue analysis

Supporting schedules

Detailed backup for every adjustment, ready for lender review

Management discussion points

Key questions and areas requiring further investigation

Winning More Engagements

In a competitive market, turnaround time is often the deciding factor. When a PE firm or searcher has a deal under LOI with a 60-day exclusivity window, they can't afford to wait three weeks for the QoE firm to even start. Firms that can demonstrate rapid turnaround win more mandates.

AI-assisted analysis also enables competitive pricing. Lower per-engagement labor costs mean firms can offer compelling pricing without sacrificing margins.