Archives for October 2011

NASBA Accounces Launch of CPAverify.org

The National Association of State Boards of Accountancy (NASBA) announced the launch of CPAverify.org – a website featuring a central database of state licensee information about CPAs practicing across the nation. Populated by official state regulatory data received from State Boards of Accountancy, the site is free and open to the public. In its initial launch, CPAverify.org will include licensee data for 22 states and will add additional states regularly. 

A national database of this kind has been in high demand for some time as corporations, individuals, CPA firms and organizations such as the IRS and PCAOB have expressed a need for up-to-date access to CPA records across multiple jurisdictions. To address this growing need in the marketplace, CPAverify was designed as an outward-facing version of an internal CPA database that has been in operation by NASBA for several years but only available for use by authorized state board personnel. 

“With database platforms, data processes, privacy policies and freedom of information laws varying from state to state, it is quite an undertaking to synchronize all those various data feeds into one useful tool that can be available to help support the state boards with public protection and enforcement efforts,” says David Costello, NASBA President and CEO. Whether sourcing talent to fill open positions or searching for the ideal CPA to assist with an income tax return, CPAverify.org will provide individuals and organizations alike a convenient and credible way to research whether a CPA is officially licensed in a particular state without having to search each state board site individually. The tool also goes one step further by providing general license history for CPAs.

Whitinger & Company Expands to Indianapolis

Muncie, Ind.-based Whitinger & Company opened a Fishers, Ind., office led by Mark Price.

“Expanding into the Indianapolis area is a logical step for our firm and is consistent with our strategic growth objectives,” says MP Linn Crull.

Kemper CPA Group Acquires Kentucky Firm

Greenfield, Ind.-based Kemper CPA Group (FY10 net revenue of $31.6 million) acquired the Henderson, Ky.-based firm of Campbell, Royster, Carver, McBride & Co. (four partners), effective Oct. 1.

The firm will operate under the Kemper name and will remain at its existing location in Henderson. Partner Nick Whelan of Kemper’s Evansville, Ind., office will join partners Benson Campbell III, Judson Royster, Terry Carver and David McBride at the Henderson office.

J.H. Cohn Acquires Kostin, Ruffkess & Company

Roseland, N.J.-based J.H. Cohn (FY11 net revenue of $235.6 million) acquired Farmington Conn.-based Kostin, Ruffkess & Company (FY10 net revenue of $18.4 million).

“This combination will enable us to more efficiently and effectively serve the New England market by providing deeper resources and broader areas of expertise than to which either of us previously had access,” says J.H. Cohn CEO Tom Marino.

Hoskins & Company Merges to Expand Tennessee Presence

Nashville, Tenn.-based Hoskins & Company opened a second office in Chattanooga, acquired through a merger with Harry Tate CPA.

“The expansion provides the company with a larger presence in Tennessee and allows it to deliver professional audit, advisory and tax services to clients in and around the Chattanooga area,” said a company spokesman. Tate will serve as managing director of the Chattanooga office.

Three Ohio Firms Join Forces

Cincinnati-based Flynn & Co. CPAs acquired Forrester & Menning Inc., Cincinnati, and Bachmann & Wells CPAs of Lebanon, Ohio. Herbert Wells, MP of B&W, will be staying with the firm on a part-time basis.

“We are looking to acquire other firms if they are a good fit and the acquisitions are mutually beneficial for all parties involved,” Flynn & Co. MP Richard Flynn said in a release.

Dixon Hughes Goodman Acquires Fairfax, Va. Firm

High Point, N.C.-based Dixon Hughes Goodman (FY11 net revenue of $284.5 million) acquired the Fairfax, Va., firm of Swart, Lalande & Associates (FY10 net revenue of $6.3 million) on Nov. 1.

“This union is an exciting decision for our firm,” says Rick White, Swart MP. “After months of research, conversations and meetings with DHG management and professionals, we are convinced that this venture will truly benefit our valued clients and staff. DHG embraces our same cultural, operational and ethical values – and prides itself on the ability to combine deep industry experience and comprehensive accounting and advisory services with a strong commitment to personal service.”

Irvine, Calif. Merger Creates New Firm

Two Irvine, Calif., firms – Diehl, Evans & Co. and White, Nelson & Co. (FY10 net revenue of $11.2 million) – merged to create White Nelson Diehl Evans LLP.

“It quite literally made a lot of sense to consolidate in a down economy,” White MP David Doran says. “We were looking for new niches that we couldn’t access on our own.”  The merger gives the firms a combined staff of 130.

Crowe Horwath Acquires ‘Beyond the IPA 100′ Firm

Oak Brook, Ill.-based Crowe Horwath (FY10 net revenue of $481.3 million) acquired Sacramento, Calif.-based Perry-Smith LLP (16 partners, 100 staff and net revenues of $27.2 million) on Nov. 1, 2011.

“By adding the people of Perry-Smith, this expansion allows us to further develop the West Coast, a key element of our vision of becoming a national firm that is globally branded,” says Chuck Allen, Crowe’s CEO. “While we currently have offices in Los Angeles and Orange County, we believe that a presence in San Francisco and Sacramento will enhance our ability to serve the needs of our clients and the careers of our people. It also allows us greater opportunities to create new client relationships in the Northern California market through the excellent reputation of the Perry-Smith partners and people,” says Allen.

Being part of Crowe will provide our clients with access to broader resources, while providing significant benefit to our personnel through expanded career opportunities,” says Perry-Smith founder Robert Perry-Smith.

Boulay, Heutmaker, Zibell & Co. Acquires Minneapolis Firm

Boulay, Heutmaker, Zibell & Co., Eden Prairie, Minn., acquired Hansen, Jergenson, Nergaard & Co., Minneapolis on October 31. The merged entity will be known as Boulay, Heutmaker, Zibell & Co.

“The merger brings together two like-minded firms,” says Boulay’s MP Mark DeNucci. The combined firms will have 30 partners and 104 staff. The merger is part of Boulay’s revenue growth strategy to become an IPA 100 firm.