Archives for October 2012

People in the News – Oct. 19

Ari Samuel has been admitted as partner in the Professional Practice Group of New York-based EisnerAmper (FY12 net revenue of $256.92 million). “Our clients tell us that they increasingly rely on meaningful industry expertise as they deal with complex transactions and Ari’s deep skill set will be a great benefit to them in this regard,” says EisnerAmper CEO Charly Weinstein. Samuel previously worked at a national firm leading the investment management practice in the resolution of technical accounting and auditing matters.

BDO Snaps Up IPA 200 Firm

Chicago-based BDO USA (FY12 net revenue of $618 million) announced the expansion of its Philadelphia-area practice through the addition of more than 100 partners and staff from Asher & Company, (FY11 net revenue of $15.7 million) effective Nov. 1. The combination brings the total BDO staff in Philadelphia to 176.

“I want to welcome all of the Asher partners and staff to BDO. Combined with our recent addition of Argy, Wiltse & Robinson, this is powerful evidence of our growing presence in the Atlantic region,” says Wayne Berson, CEO-elect of BDO USA.

Joseph Beach who has served as MP of Asher since 2005, will serve as the assurance business line leader of the combined Philadelphia practice. William Burns, who has more than 20 years of accounting experience, will serve as the tax business line leader for the combined practice.

Founded in 1938, Asher, formerly a member of Moore Stephens N.A.,  is viewed as one of the leading firms serving the real estate and public housing sector.

People in the News – Oct. 23

Gary Brown and Sam Agresti have been appointed to new leadership roles at Dayton, Ohio-based Brady Ware & Company (FY11 net revenue of $14.10 million). Brown leads the Columbus office. He joined the firm from Nipps, Brown, Collins & Associates, which merged with Brady Ware on Aug. 31. Agresti will lead Brady Ware’s Dealership Services team.

Yeo & Yeo Acquires Auburn Hills, Mich. Firm

Saginaw, Mich.-based Yeo & Yeo (FY11 net revenue of $27.34 million) and Hauswirth+Moncrief of Auburn Hills, Mich., have merged.

H+M, now operating under the name Yeo & Yeo at its existing location, will expand its tax, audit, business consulting and business valuation services. The merger adds eight staff and approximately $1.5 million in revenue to Yeo & Yeo.

“The merger allows us to have closer access to our current clients and gives the firm a distinct presence in Southeast Michigan,” says Yeo & Yeo CEO John Kunitzer. “We chose Hauswirth+Moncrief because it is a growing firm that wants to provide additional services for its clients and it shares our culture of community involvement and personalized service.”

The firm is a member of The Leading Edge Alliance.

Two Pittsburgh Firms Combine

Horovitz, Rudoy & Roteman of Pittsburgh and DeJulius & Co. CPAs, also of Pittsburgh, joined forces recently.

Terry DeJulius will be OMP of what will now be known as the Horovitz, Rudoy & Roteman, DeJulius Division, the Pittsburgh Business Times reported.

Meyers, Harrison & Pia Acquires Valuation Group

New Haven, Conn.-based Meyers, Harrison, & Pia (FY11 net revenue of $6.95 million) acquired Portland, Maine-based Fannon Valuation Group. Nancy Fannon says her firm had been “looking for a merger partner for some time,” the New Haven Register reported.

“We wanted to broaden our services, capabilities and geographic client base,” Fannon says. “We feel that the fit with Meyers, Harrison & Pia is a good one, both culturally and in terms of the line of work we do.” Fannon Valuation Group had operated independently for 8½ years after breaking off from a large regional accounting firm.

People in the News – Oct. 11

New York-based Anchin, Block & Anchin (FY11 net revenue of $92 million) has admitted three to partnership – Anthony Bracco, Jared Feldman, and Michael Mazzola. With these additions, Anchin has a roster of 53 partners and principals. Bracco joins Anchin as a partner in its Litigation, Forensics and Valuation Services Group. Feldman is an accounting and audit partner and a member of the Firm’s Family Office/High Net Worth Services Group. With Anchin since 1997, Mazzola is a partner specializing in audit and tax services in Anchin’s Financial Services Group.

Birmingham, Ala.-based Warren Averett (FY11 net revenue of $80.99 million) has announced that William (Bill) Elliott, has joined the firm as a member and international tax director. He is an international tax lawyer with more than 30 years of diversified international and domestic tax planning and compliance experience. Kaharlsa Silcox has been promoted to principal with Birmingham, Ala.-based Warren Averett (FY11 net revenue of $80.99 million). Silcox’s responsibilities include tax compliance for medical practices, real estate entities and high net worth individuals. Silcox also specializes in tax compliance and consulting for S corporations, limited liability companies and partnerships. Joshua Reidinger has been appointed president of Warren Averett Asset Management, a privately owned wealth and asset management firm, which manages more than $1.4 billion in assets. He is a member of the firm’s Investment Committee and Executive Committee and has been with the firm since 1996.

MNP Grows with Addition of Two Firms

Toronto-based firm PSTG, specializing in serving the public sector, merged with Calgary-based MNP, one of Canada’s largest chartered accountancy and consulting firms, effective Oct. 1.

While MNP was looking to expand its public sector practice, PSTG was looking for an opportunity to provide clients with more services. The PSTG team of 13 will move into MNP’s downtown Toronto location.

MNP credits its strategic mergers, value-added services, and corporate culture for catapulting the firm to lead with the highest year-over-year growth rates of any of Canada’s top accounting firms. PSTG is a growing company that was looking to join a firm that could enhance its current service offerings while providing an expanded national and global reach to clients.

In addition, North York-based Sacks, a chartered accounting and consulting firm specializing in serving the real estate industry, merged with MNP effective Sept. 1. “We were looking to grow our real estate and construction practice and couldn’t have found a better fit than Sacks LLP,” says Daryl Ritchie, CEO, MNP.

Chinese Companies Will Get U.S. Oversight

The Public Company Accounting Oversight Board (PCAOB) will begin observing corporate audits in China under an agreement reached Oct. 9.

PCAOB had wanted full access to inspect Chinese audits of U.S. companies, but Chinese resistance, based on  sovereignty concerns, led to “observational visits,” only the New York Times reported. The PCAOB chair has called for an inspection plan to be in place by the end of the year.

Paul Gillis, a professor at Peking University’s Guanghua School of Management, called the agreement “a face-saving way to kick the can down the road,” arguing the accounting oversight board might decide to extend its year-end deadline for a full inspection deal.

New International Accounting Association Launches

A new international association of accounting, consulting and legal firms, launched Oct. 10.

The mission of Miami-based Abacus Worldwide is to focus on developing lasting connections to build a trusted network of like-minded quality firms. Abacus is a cost-effective resource facilitating referrals, benchmarking and growth to its members.

Julio Gabay, former executive director at Polaris International (PrimeGlobal), founded Abacus Worldwide in August 2012. “Our aim is to make Abacus Worldwide the number one resource for today’s growing firms. We are focused on fostering member interaction and providing resources that really matter to firms,” Gabay said in a press release.