Search Results for: Armanino

Armanino Rolls Out COVID-19 Tracking Tool

As businesses in many areas begin formulating plans for a gradual return to physical workspaces, San Ramon, Calif.-based Armanino LLP (FY18 net revenue of $267.2 million) has introduced the new COVID Recovery Tracker tool.

The free tool captures county-by-county COVID-19 case trends in real time, tracking over a 3-, 7- or 14-day period to get a sense of where there are increases in infections versus areas in decline or holding steady. The tool also allows for customizable county filtering to capture only the specific data a particular user may need.

The firm plans to add more features in the coming weeks including traffic mapping at various locations such as retail establishments, malls, restaurants, airports and more – as well as a compendium of which business locations are open or plan to open versus those that are still closed, and overall trends by industry vertical.

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New Partner Joins Tech Industry Practice of Armanino

San Ramon, Calif.-based Armanino LLP (FY18 net revenue of $267.2 million) has announced that tax expert Matt Fricke has joined the firm as a partner.

Fricke joins the firm’s corporate tax practice with more than two decades of experience navigating the complex tax issues affecting technology companies, from intellectual property and offshore planning structures to domestic credits and incentives.

“Matt’s understanding of the unique challenges and opportunities faced by clients in the technology industry allows him to make an immediate impact at Armanino,” says Matt Armanino, CEO of Armanino LLP. “We are always focused on working with clients to look beyond an immediate engagement and having experts like Matt means we can provide clients with the insights needed to prepare for a constantly shifting market landscape.”

Armanino’s technology accounting and consulting practice provides guidance in strategic tax planning, equity, intellectual property, R&D tax credits, valuation, SOC and SOX compliance, and many other issues. As the firm’s largest industry group, the technology team works with companies at every stage of development.

“With technology companies facing new challenges, from subscription-based accounting issues in the software sector to supply chain disruptions, it is critical to have a partner versed in providing the best solutions for each unique engagement,” the firm says.

Fricke specializes in tax accounting of public companies, venture-funded corporations and startup entities. He is versed in corporate deferred tax accounting and tax reserve analyses, mergers and acquisition accounting, tax attribute analyses, tax internal controls and domestic compliance.

He joins Armanino from Alvarez & Marsal, where he was a managing director. Prior to that, he was the co-lead partner at Clifton Douglas and he held roles at PwC and Deloitte.

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Armanino Adds 11 New Partners for 2020

San Ramon, Calif.-based Armanino LLP (FY18 net revenue of $267.2 million) has announced the admission of nine new firm partners as well as two new partners joining the firm.

This new group of partners includes professionals in tax, audit, risk assurance and advisory and consulting practices across six offices throughout California, Texas and Washington.

“The new partners are a phenomenal group of people who always find new ways to drive value for clients and serve as effective team leaders,” says CEO Matt Armanino. “They truly embody the firm’s core values of innovation, entrepreneurism and positive energy. Most exciting is that they represent the firm’s growth in a variety of geographies and service lines where they have created opportunities and made an impact on the firm.”

Nearly all the new partners participated in the firm’s partner track program, which identifies, educates and mentors potential partners. In addition, the firm’s “transparency to partnership” education track focuses on educating all levels of the firm about the expectations, qualifications and benefits to pursuing partnership.

New firm partners include:

  • Todd Bishop, risk assurance and advisory service partner, who works remotely and helps lead the internal audit, SOC and SOX teams.
  • Katy Brown, tax partner, works from San Ramon and focuses on serving nonprofits and works with exempt organizations in a variety of capacities.
  • Peter Burns, audit partner, works from San Francisco and serves the technology industry providing assurance and auditing services.
  • Jon Chin, audit partner, works from San Jose, Calif., in audit and business consulting, primarily in the technology industry.
  • Jarrett Ganan, tax partner, is based in the west Los Angeles office, and specializes in partnership tax compliance, business structures and transactions, focusing on the cannabis, entertainment and high-net-worth sectors.
  • David Greenamyre, tax partner, is located in San Jose, Calif., and specializes in corporate taxation with a focus on ASC 740 income tax accounting and theory in the technology, hospitality and consumer product goods industries.
  • Ryan Guyton, tax partner, works from Dallas, and serves privately held businesses with income and estate tax planning, wealth transfer and succession planning, merger and acquisition consulting and other business advisory services.
  • Isaac Peace, audit partner, works from Dallas and focuses on audit, attestation, internal controls and business advisory in the technology, real estate and financial services industries.
  • Eric Thomas, consulting partner based in San Ramon, serves nonprofit and for-profit organizations on finance and accounting needs and digital transformation.

New partners joining the firm:

  • Rich Asiodche, audit partner, Seattle, works with life sciences, technology and emerging growth companies, advising on mergers and acquisitions, financial statement audits and integrated audits.
  • Mike Goral, tax partner, leads the cannabis tax practice from the west Los Angeles office. He advises cannabis clients on a broad range of issues and provides guidance on cannabis technology, manufacturing, transportation and retail issues.

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Armanino Creates Game-Changing Technology To Deliver Real-Time Attestation Service

San Ramon, Calif.-based Armanino (FY18 net revenue of $267.2 million) has created the world’s first application of real-time attest.

Using blockchain technology, Armanino created TrustExplorer 2.0, which reduces attestation reporting from 30 days to 30 seconds and is the first step to developing real-time audit.

“For years, thought leaders have predicted the future arrival of real-time auditing capabilities, and now Armanino has accomplished the world’s first business application of this theorized innovation,” says CEO Matt Armanino. “This breakthrough is a catalyst that will lead to the widespread development and adoption of real-time auditing, and offers a transformational improvement over the current audit practices.”

Armanino tells IPA that TrustExplorer is an example of what the profession should be doing to take advantage of disruptive technologies. “This is an incredible opportunity to change ourselves,” he says. “Embrace it with a sense of fearlessness.”

The TrustExplorer 2.0 tool will allow users to download a report, backed by the firm’s opinion and in compliance with attest examination standards. The innovation solves some of the biggest issues with reporting as it exists now: reports are historical and stale by the time they are issued, they are not widely available and methods of collecting data are time-consuming.

The first license to Armanino’s TrustExplorer platform was granted to TrustToken, the world’s fourth largest stablecoin issuer. TrustExplorer supports public blockchain nodes to obtain audit evidence for the TrueUSD stablecoin.

“TrustExplorer 2.0 serves as our roadmap for how to take immutable tamper-resistant systems like blockchains, and harness them to provide attestation opinions both in real-time and with accuracy that cannot be contaminated by human error,” says Andries Verschelden, partner and blockchain practice leader at Armanino. “This is a clear-cut example of how blockchain technology is already changing business processes to optimize accuracy, security and speed.”

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Great Northern Advisory Team Joins Armanino

Caroline Stovall

San Ramon, Calif.-based Armanino (FY18 net revenue of $267.2 million) has announced that Great Northern Advisory, a financial consulting firm in Dallas, has joined the firm.

Founder Caroline Stovall has been admitted as a partner to lead the firm’s CFO advisory practice, effective Nov. 1. The Great Northern Advisory team is made up of 15 consultants with decades of experience in a variety of Big 4, consulting and operational roles, including as CFOs and controllers.

CEO Matt Armanino says the firm is committed to expanding the practice. “The Great Northern Advisory team brings deep expertise in health care, accounting process transformation, system implementations, acquisition integrations, interim financial management, accounting support, private equity and transaction advisory services that perfectly complement our CFO advisory practice.”

The Great Northern Advisory team will be based in Armanino’s Dallas office.

“Armanino is a great fit for our team, because the firm recognizes the importance of a strategic CFO organization – something that is at the core of our practice,” Stovall says.

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Andy Armanino to Step Into Chair Role at Moore Global

Andy Armanino

Richard Moore has announced that he intends to step aside after 15 years as chair of Moore Stephens International, now Moore Global, and Andy Armanino will succeed him starting Jan. 1.

Armanino, the former CEO and MP of San Ramon, Calif.-based Armanino LLP (FY18 net revenue of $267.2 million) is currently a member of Moore Global’s board.

During Moore’s period as chairman, the network has grown its combined revenues significantly and extended its coverage to more than 110 countries. He will remain an active member of the network through Moore Family Office Limited, where he specializes in advising international private client families.

“We are now an organization of true global capability, with a reputation for quality and differentiated client service,” Moore says. “I am personally delighted that Andy will succeed me in the role. He is an individual with great compassion, drive and vision, and a global perspective on how the role of professional service firms must evolve and adapt.”

Armanino says that Moore’s grandfather started the original Moore firm in London more than a century ago. “The organization is well positioned to meet the main challenges facing our profession as we look ahead: sustaining the talent pool that we need to grow our future leaders and innovators; and, as our business capabilities improve because of a world made faster and smaller through technology and data, we must ensure it is clients, first and foremost, who benefit from our ability to enhance our already strong international expertise and global resources.”

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Armanino Begins Accepting Cryptocurrency Payments

San Ramon, Calif.-based Armanino (FY18 net revenue of $267.2 million) is accepting payment in more than 1,000 cryptocurrencies, including Bitcoin, Ethereum, XRP, Litecoin and many other altcoins.

Armanino is also offering the firm’s proprietary block explorer and associated audit tools to clients, who include virtual currency exchanges, custodians and blockchain companies. Block explorer works with top public blockchains to analyze transaction and wallet details as well as digital signature validation tools to obtain independent and credible audit evidence, giving clients the most powerful and trustworthy platform for successful audits.

“With more fintech companies, banks and brokerages exploring ways to mainstream cryptocurrency, it made sense for Armanino to build the infrastructure necessary to accept cryptocurrency payments for what we expect to be a growing form of payment,” says partner Andries Verschelden, blockchain practice leader.

He adds, “As digital asset use and adoption increases and new types of transactions are made, such as security token offerings (STO) on public blockchains, the need for third-party assurance tools continues to grow. That’s where our block explorer and associated tools are already proving value to our internal teams and our clients alike.”

Armanino offers a breadth of industry-specific solutions to the blockchain and cryptocurrency communities. The firm has implemented a crypto onboarding service that includes preparing and consulting clients on the best practices, as well as the means to perform transactions in the new digital asset economy.

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Armanino Opens Denver Office

San Ramon, Calif.-based Armanino (FY18 net revenue of $267.2 million) announced that it has opened the doors of its new downtown Denver office, further expanding the firm’s footprint.

The Denver team works with experts across the firm’s 13 offices throughout California, Washington and Texas.

“Armanino works with many Denver- and Colorado-based businesses. With a steady increase in engagements in the region and a rapidly growing economy, we saw this market as a natural expansion,” says CEO Matt Armanino. “Denver has long been a gateway to the West, making it a key market for many of the firm’s industry specialties and a region with a strong talent pool to draw on.”

The distribution, manufacturing and technology sectors together make up nearly half the region’s GNP, while its cannabis industry is expected to grow 32% in the next four years. In addition, Colorado’s startup activity is ranked fifth in the nation, the firm reports.

Manufacturing, tech and distribution companies must deal with complex issues such as revenue recognition, ASC 606 compliance, valuation, state and international tax, and SOX compliance. Armanino offers a variety of solutions, including outsourced accounting and finance, corporate tax, audit and technology consulting.

Earlier this year, the firm launched its cannabis practice to provide help for common cannabis business IRS issues and financial checks needed by investors.

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Patrick Chylinski Joins Armanino as Partner in Los Angeles

Patrick Chylinski

San Ramon, Calif.-based Armanino (FY18 net revenue of $267.2 million) announces that Patrick Chylinski has joined the firm and was admitted as a consulting partner in its Los Angeles office, focusing on the firm’s forensics practice.

The practice assists clients in investigations, litigation support and fraud prevention.

“Patrick is a great fit with Armanino’s core values and culture thanks to his leadership presence and growth mindset. His industry knowledge of technology, media, sports, entertainment, real estate, blockchain and health care is well suited to work in concert with other firm practice areas to deliver maximum value for clients,” says Matt Armanino, CEO of Armanino LLP.

Chylinski has more than 22 years of consulting experience, with nearly 16 years focused on litigation support and forensic accounting.  Prior to joining Armanino, he was the West region practice leader in litigation consulting and financial forensics for Chicago-based RSM (FY18 net revenue of $2.14 billion).

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Armanino Launches AI Lab

An IPA Best of the Best firm, San Ramon, Calif.-based Armanino LLP (FY17 net revenue of $242.7 million) has launched the Armanino AI Lab, designed to help businesses interested in using AI technologies.

“More than 75% of companies believe AI is fundamental to their future success, but the majority of those aren’t taking advantage of AI technology today and don’t know how to,” says Tom Mescall, PIC of Armanino’s consulting practice. “Armanino’s AI Lab will serve as a one-stop shop that enables its members to harness the opportunities that AI offers without being left behind by their competitors.”

The announcement came May 20 at the Artificial Intelligence (AI) Executive Roundtable, hosted by Armanino at its offices for C-level executives to see a demonstration of AI and discuss practical ways to apply it.

The three components of AI are predictive analytics, robotic process automation and virtual assistants. Members of the Armanino AI Lab can access peer-to-peer meetings, exclusive product and vendor reviews, Armanino’s data scientists and AI developers and consultants. Members can also learn about AI best practices and execute on AI proof of concepts.

The firm says that in a survey of the Roundtable event attendees, more than 75% ranked predictive analytics as most important to their organizations. Additionally, 83% believe their data infrastructure will need further improvement to achieve the best results. Meanwhile, 60% of event attendees have not started their first initiative.

Prior to launching its AI Lab, Armanino researched the most common business cases for using AI – from finance, supply chain, customer experience and talent management to compliance and privacy.

“As we continue to build out the Armanino AI Lab, we are proud to align ourselves with many of the world’s technology and software leaders in the AI space,” says John Horner, PIC of Armanino’s data and analytics practice. “This makes it easy for clients to access our knowledge and relationships, thereby decreasing their investment time and increasing their benefits of embracing AI technology.”

Armanino has already accepted several existing clients into the Armanino AI Lab and will continue to add members. To submit your membership application, visit: learn.armaninollp.com/ailab.

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