Baker Tilly Advisory Group LP and Moss Adams LLP, two U.S.-based accounting firms, have announced a merger valued at $7 billion aimed at establishing a middle-market leadership position. The combined entity will be partially backed by private equity, signaling a new phase of growth and consolidation within the accounting sector. This deal reduces the competitive landscape primarily to the Big Three accounting firms and KPMG, with other firms considered less prominent. Concurrently, Grant Thornton US is pursuing a global expansion through a series of private equity-driven acquisitions, which will reshape its international network. In the UK, former senior executives from EY and PwC are launching a new accounting and consulting firm with private equity support, intending to attract clients and partners away from the Big Four. Additionally, there are trends of consolidation among member firms within accounting networks, with firms like MHA looking to acquire Baker Tilly affiliates. Meanwhile, in Washington, D.C., the Trump administration has downsized the Department of Justice’s office lease, reflecting changes in federal office space utilization.