Archives for October 2016

Abdo Eick & Meyers Merges in HR Services Firm

Edina, Minn.-based Abdo Eick & Meyers (FY15 net revenue of $21.1 million) has merged in Workforce Resources Inc.

The new business services group, called AEM Workforce Solutions, will focus on providing expert human resources support and consulting services for small to mid-size employers. “This merger will allow us to leverage our combined experience and expertise to provide a wider range of services along with outstanding customer service to our valued clients,” says Abdo, Eick & Meyers MP Steve McDonald in a statement. “It will also allow us to continue solving the challenges of our rapidly growing client base.”

“We are excited about the opportunities for both our clients and staff as a result of the merger,” says Leah Davis, president of the newly formed AEM Workforce Solutions. “Our mutual clients will now have access to a broader range of knowledge and skills. All of our staff will benefit from a more robust training and professional development program, and will enjoy additional opportunities to advance and grow in our new firm.”

Barnes Wendling Named Honoree for the 2016 Smart Business Customer Service Awards

Cleveland-based Barnes Wendling CPAs (FY15 net revenue of $10.2 million) has been selected as an honoree for the 2016 Smart Business Customer Service Awards.

The 2016 Customer Service Awards will honor companies who have demonstrated superior customer service and will be showcased at the Nov. 3 2016 Power Players Luncheon Series. This program, hosted by Smart Business magazine of Cleveland, serves to raise awareness of the importance of customer service in the business world and to share best practices from those who do it best.

“At Barnes Wendling, we understand our existence depends on our clients,” says Jeffrey Neuman, president of Barnes Wendling CPAs. “We will continue to provide top-notch service by going above and beyond to meet client needs. We are honored to be nominated for this award.”

Grassi & Co. Welcomes Agranoff as Chief Human Resources Officer

Jeff Agranoff

Jeff Agranoff

New York-based Grassi & Co. (FY16 net revenue of $53 million) has welcomed Jeff Agranoff as the chief human resources officer and HR consulting principal in the Jericho, N.Y., office.

Prior to joining Grassi & Co., Agranoff was the COO and HR principal at New York-based Friedman LLP. He has 18 years of experience in the public accounting industry leading human resource departments and providing outsourced HR solutions to growing and middle-market clients.

“Adding someone with Jeff’s credentials helps to strengthen our commitment to our employees and our clients who need a consultant to help them navigate the many new challenges they face brought on by the ACA and the new overtime rules,” says Louis Grassi, MP and CEO. “The roles of human resource professionals have become more central to running a successful business than ever before.”

He has written numerous articles on topics such as workforce management, millennial training and the management of professional services firms.

Sikich Acquires Chicago-Area Firm

Naperville, Ill.-based Sikich (FY15 net revenue of $116.6 million) announced that it will acquire Stanfield & Associates, a Downers Grove, Ill.-based firm with extensive experience in outsourced accounting.

“The acquisition of Stanfield & Associates will add valuable expertise to Sikich’s accounting services team and expand the capabilities of our growing family office practice,” says Sikich CEO Jim Sikich. “Stanfield has demonstrated impressive success and will be a welcome addition to our team as we continue to bolster our accounting offerings for clients.”

Stanfield specializes in performing outsourced accounting for family offices, which are private wealth management advisory firms that manage investments for high-net-worth individuals and families.

Founded in 2011, Stanfield & Associates will join Sikich’s practice, which offers outsourced accounting and tax planning and preparation services to small and midsize businesses across industries.

“Joining Sikich will allow us to tap into the full team’s impressive technical knowledge and the firm’s many practice areas to offer our clients access to new insights and services,” says John Stanfield, founder and principal at Stanfield & Associates.

The acquisition of Stanfield & Associates comes on the heels of the announcement of Sikich’s acquisition of SCS, a technology firm based in Glendale, Calif. Earlier this year, Sikich also expanded into northeast Ohio with the acquisition of BCG & Co., an Akron-based firm offering audit and assurance, tax, technology and wealth management services. Sikich’s acquisition of Stanfield & Associates is scheduled to close Nov. 1.

Marcum Continues Leadership Trend in IPO Market Share

New York-based Marcum (FY15 net revenue of $412 million) announced that it leads the profession in IPO audit market share during the third quarter of 2016, with more IPO audit engagements than any other non-Big 4 accounting firm.

It was the fourth consecutive quarter that Marcum has been among the top five IPO audit firms in the U.S., according to Audit Analytics.

For the quarter ended Sept. 30, Marcum held 28.5% of IPO transactions audited by non-Big 4 firms and 9% of the market overall. Marcum’s performance over the first three quarters of the year was also strong, with a 21% share of IPO transactions among non-Big 4 firms and 5% of all transactions industry-wide.

“After starting the year at historically low levels, the IPO market began a modest recovery in the second and third quarters,” says David Bukzin, PIC of Marcum’s SEC Services Practices group. “Marcum’s commitment to client service, deep audit and compliance capabilities, and track record as a trusted advisor positioned us as the firm of choice for many of the companies undergoing the transition to public listing.”

Gantnier Appointed to AICPA Peer Review Board

Elizabeth (Liz) Gantnier

Elizabeth (Liz) Gantnier

Charlotte, N.C.-based Dixon Hughes Goodman (FY16 net revenue of $394 million) has announced that Elizabeth (Liz) Gantnier, the mid-Atlantic region professional practice partner based in Baltimore, has been appointed to the AICPA Peer Review Board for the 2016-2017 term.

“I am excited to serve with colleagues from around the country to promote the enhancement of our profession’s commitment to quality,” says Gantnier. “Providing guidance and overseeing the peer review process are critical elements of the Peer Review Board’s mission, and I am honored to serve the accounting profession in this new role.”

The mission includes developing, implementing, maintaining and enhancing comprehensive standards for performing and reporting on peer reviews and related guidance for firms subject to peer review.

With more than 30 years of experience in the accounting industry and having served on numerous committees within the AICPA and other governing boards, Gantnier will provide extensive insight into the peer review governance process, the firm announced.

Morison KSi Welcomes Weinberg & Company

The accounting association, Morison KSi has expanded its U.S. coverage by welcoming Los Angeles-based Weinberg & Company, a seven-partner firm with an international focus.

Morison KSi says appointing Weinberg & Company is an important part of the association’s North American development strategy.

The firm’s core services include assurance and audit, tax and accounting, private client services, business management and consulting and the firm has experience serving a wide range of industries such as consumer products, life sciences, media and entertainment and technology.

Corey Fischer, international liaison partner for the firm, says, “We are delighted to become a member of Morison KSi and to be in the company of other firms of a similar culture, providing the same high level of professional competence and personal service that we do.”

Alliott Group Wins ‘Rising Star’ Award

An independent panel of judges selected Alliott Group as the winner of the 2016 The Accountant/International Accounting Bulletin Rising Star Association of the Year award.

The award was presented in early October at a ceremony in London. The Rising Star Association of the Year award recognizes the achievement of the alliance in the last year, with the judging panel commenting: “Alliott Group demonstrated a well thought out and effective new business and marketing strategy implemented in the last 12 months to strengthen the organization’s global position, visibility and reputation. It resulted in the expansion of the association in seven countries, increased traffic on the website, and an increase in the volume of business inquiries coming into the association.”

James Hickey, CEO of Alliott Group who collected the award along with Colin Farmer, EMEA chairman and partner at London accounting firm member Alliotts, comments: “This award not only recognizes our growth into key territories but also endorses the entrepreneurial flair and innovation in the plans we have implemented in the last year. Our ability to win this award from under the noses of larger international groups demonstrates a steely determination to succeed and an ability to differentiate ourselves in a highly competitive market.”

In the last 12 months, the alliance has taken steps to reposition and reinvigorate its global brand and to increase the flow of new business into the group through new partnerships and alliances and the development of special interest groups. A new client facing brand will be launched in early 2017 as part of an ongoing business development strategy.

Four Partners Elected to BDO Board of Directors

Lee Duran

Lee Duran

Chicago-based BDO (FY16 net revenue of $1.3 billion) has announced that Lee Duran, William Eisig, Paul Heiselmann and Anthony Lawrence have each been elected to three-year terms to the firm’s board of directors.

Duran, Heiselmann and Lawrence are new directors, while Eisig was re-elected to a new term of service. These changes are effective Nov. 1.

“As our firm continues its rapid growth, it is essential to have good governance in place. I believe the partners of BDO USA have shown excellent judgment in electing these very qualified individuals to represent them on the board of directors,” says Wayne Berson, CEO of BDO USA.

William Eisig

William Eisig

Duran is an assurance partner in the firm’s San Diego office with over 30 years of professional experience serving a variety of high technology and service industries. In addition to his local responsibilities, he serves as a leader in both BDO’s private equity and capital markets practices. He also serves as BDO USA’s U.S. liaison to the BDO International member firm in Japan.

Eisig serves as MP for BDO USA’s Atlantic region and previously served as the assurance managing partner for the region. Based in the firm’s Washington, D.C.-area office, he has more than 25 years of public accounting experience serving clients in a variety of industries including media, publishing, sports and entertainment, governmental entities and nonprofit organizations. He is MP of the firm’s nonprofit and education practice and serves as executive director of the BDO Institute for Nonprofit ExcellenceSM.

Paul Heiselmann

Paul Heiselmann

Heiselmann serves as both MP for BDO USA’s Southeast region and the national managing partner of the firm’s specialized tax services (STS) practice. He has more than 30 years of professional experience serving technology, retail, manufacturing and distribution, life sciences, professional services and private equity companies with tax, operational and business strategy issues. He has consulted on tax matters related to issues such as public and private offerings, licensing and intellectual property ownership, stock option and equity issues, R&D credits, methods of accounting and accounting for income taxes.

Lawrence serves as the assurance MP for BDO USA’s Grand Rapids, Mich., office. With more than 20 years in public accounting, his practice experience includes work with both public companies and privately held businesses on domestic and international assurance issues. He has advised clients on mergers and acquisitions, joint venture arrangements, alternative debt arrangements and private equity financings during his career. He also has served on various firm committees dedicated to developing and implementing improved audit efficiencies and best practices at BDO.

Marks Paneth Launches Health Care Practice

New York-based Marks Paneth (FY15 net revenue of $111 million) has announced that the firm has launched its health care practice.

The practice will be spearheaded by two industry veterans – partner Jacob Beniawski and principal Joseph Frohlinger – each bringing more than 25 years of experience serving the health care industry.

With the addition of Beniawski and Frohlinger, the firm will now offer audit, tax, advisory and financial consulting solutions to a broad spectrum of organizations within the health care industry, such as nursing homes, home care, managed long-term care plans, health maintenance organizations (HMOs), diagnostic and treatment centers, mental health agencies and hospitals.

“The formation of our health care practice is the natural result of synergies across our firm’s practices and yet another exciting step toward our firm’s strategic vision,” says MP Harry Moehringer.

“The ever-evolving landscape across the health care sector presents opportunities and challenges both for nonprofits and for-profits,” says Michael McNee, PIC of the firm’s nonprofit and government group. “Leveraging the extensive capabilities of our nonprofit practice and the industry-specific expertise brought on by Jacob and Joseph, creates a specialized suite of services well-tuned to the needs of the health care sector.”