The AICPA's Professional Ethics Executive Committee (PEEC) has released an exposure draft proposing revisions to independence rules for accounting firms with alternative practice structures (APS), driven by rising private equity investments. Key changes distinguish between 'significant influence' and 'control' by investors over nonattest entities, update the Conceptual Framework for Independence, refine APS interpretations under the Form of Organization and Name Rule, and expand the definition of 'network firm'. These aim to identify independence threats, evaluate risks, and suggest safeguards while maintaining professional integrity. Public comments are open until April 30, 2026, with changes effective one year after approval if adopted. This reflects growing private equity involvement in audits, as noted in recent SEC and PCAOB discussions, balancing innovation with ethical standards. UAE business owners working with international accounting networks should monitor these updates, as they may influence global firm structures and independence assurances for cross-border audits and compliance.