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MFA Admits Kristen Godsoe

Kristen Godsoe

Boston-based The MFA Companies has admitted Kristen Godsoe as a partner to lead the firm’s SEC audit practice.

In nearly four years with MFA, Godsoe has consulted with a wide range of publicly traded and privately held companies regarding U.S. GAAP and SEC financial reporting, strategic audit planning, performance improvement and internal controls. Prior to joining MFA, she spent more than 10 years with KPMG’s consumer and industrial manufacturing practice, specializing in the planning and completion of global SEC audits.

“Not only is Kristen technically skilled, but she personifies what we look for in a natural leader at MFA,” says MP Carl Famiglietti. “Her poise, pragmatism and determination enhance the culture within the firm and reflect her fundamental desire to provide unparalleled service and support to our growing customer base.”

More news from The MFA Companies

The MFA Companies Announces Kevin O’Brien As Newest Partner

Kevin O’Brien

The MFA Companies of Tewksbury, Mass., has announced that Kevin O’Brien has been admitted as a partner.

The MFA Companies serves high-growth, entrepreneurial organizations and individuals.

O’Brien joined The MFA Companies in 2016 as a director of business strategies, tasked with helping entrepreneurial businesses grow. As partner, he will continue to build and strengthen relationships through new customer acquisition as well as promote the firm’s business consulting solutions via continued market expansion.

“Kevin has demonstrated immense leadership in supporting our customers in pursuit of their economic and business objectives,” says MP Carl Famiglietti. “His determination to extend The MFA Companies brand while working relentlessly to help our customers achieve their future ambitions is inspiring.”

Prior to joining MFA, Kevin worked at Jones Lang La Salle, a professional services firm that specializes in real estate and investment management.

MFA Admits Fisher as Partner

Steven Fisher

Steven Fisher

Moody Famiglietti & Andronico of Tewksbury, Mass., admitted Steven Fisher as partner effective Jan. 1.

Fisher, who has more than 15 years of experience, leads internal and external business strategy as well as all revenue-generating business processes at MFA. He is responsible for driving growth, expanding market share, preserving operational efficiency, and ensuring a consistent, best-in-class experience for the firm’s customers.

In his role, Fisher and his team partner high-growth businesses with the team of advisors at The MFA Companies where they benefit from customized business planning services, insight and guidance. He works to create connections for professionals in order to help them and their businesses prepare for future success.

MFA Admits Two New Partners

Moody Famiglietti & Andronico of Tewksbury, Mass., (MFA) has announced the promotion of 20 team members, including two new partners within MFA’s subsidiary, MFA Cornerstone Consulting: Joseph Landry and Lisa Whittemore.

“These 20 individuals, with their unique perspectives and inspiring vision, are a testament to MFA’s commitment to excellence and our dedication to making an impact on the overall success of our clients,” says MP Carl Famiglietti. “They are extraordinary role models who exemplify our values and exhibit the innovative thinking and collaborative style for which MFA is so well known.”

Landry is a member of MFA Cornerstone Consulting’s IT advisory practice, Landry provides a full range of services to clients including Sarbanes-Oxley (SOX) IT compliance consulting, SSAE 18 audits and SOC reports, IT and cybersecurity assessments and the development of control frameworks for assessing the effectiveness of an organization’s IT-related internal controls. He works with clients on all aspects of a compliance and control audit, from initial discovery and documentation to onsite testing of identified controls and processes. He is highly regarded for his regulatory compliance knowledge and his risk-based perspective.

Whittemore has more than 10 years of global experience performing financial accounting, treasury, operational and information technology audits for worldwide investment, insurance, e-commerce and HR service entities. In her role at MFA Cornerstone Consulting, she works with clients to review their existing internal financial control policies, counsel on new policies and perform controls testing in accordance with Sarbanes-Oxley legislation. She also actively assists in financial statement audits and litigation support matters, and regularly conducts SSAE 18 audits, bank examinations, fraud examinations and SEC surprise examinations.

Other promoted individuals: Devon Allary, Christopher Annand, Matthew Cahill, Ryan Clancey, Adela D’Agostino, Michele Dulong, Lauren Hannafin, Erin Hannigan, Emily Keating, Robert Merenda, Justine Munroe, Irina Moraru, Theary Phat, Jeanette Rocker, Erin Tobin, Kathryn Trautwein, Megan Carignan and Greg Wojick.

MFA Admits Four New Partners

Moody Famiglietti & Andronico LLP (MFA) of Tewksbury, Mass., promoted 22 members including four professionals admitted to partnership. These promotions are effective July 1.

Susan Giroux

Susan Giroux

“With growth comes the opportunity for leaders to emerge. The promotion of 22 inspiring individuals reflects the exceptional talent we have at our firm and the rapid growth that both we and our clients have been experiencing,” says Carl Famiglietti, MP of MFA. “MFA is a versatile, competency-driven organization. The stimulating work of these members and their unwavering dedication to our clients exemplifies what we stand for, and we all look forward to their continued contributions in bringing the firm into the future.”

The following individuals are MFA’s newest partners.

Susan Giroux has more than 25 years of accounting and assurance experience during which time she developed a highly specialized set of core competencies in quality assurance and quality control. She uses this expertise to direct and ensure the accurate implementation of the firm’s quality control policies and procedures and overall guidance in the areas of complex financial reporting, accounting and audit.

Matthew Glazier

Matthew Glazier

Matthew Glazier has more than 10 years of public accounting experience, which he leverages to lead engagement teams in providing a full suite of assurance services to high-growth companies in a wide variety of industries including high technology, manufacturing, construction and nonprofit. Working with both public and private entities, Glazier focuses on creating a well-planned, proactive approach to the audit from the start to streamline the process for the firm’s clients. His deep technical expertise and strong rapport with clients has made him an invaluable partner on a wide array of complex issues including software revenue recognition, stock compensation, debt and equity transactions and more.

Matthew Kalil

Matthew Kalil

Matthew Kalil‘s strong audit and assurance expertise comes from years of experience working with clients in a diverse range of corporate and nonprofit industries, including manufacturing, research, consulting, membership organizations, health care, community day care centers, schools, foundations and various human service agencies. At MFA, he specializes in providing efficient audits, reviews, compilations and other attestation services. He is known for building strong client relationships, while maintaining independence, to ensure each engagement runs as smoothly and efficiently as possible.

Stacie McDermott

Stacie McDermott

Stacie McDermott has more than 10 years of experience in public accounting and specializes in working with privately held and publicly traded companies in emerging growth industries including software and hardware technology, professional services, life sciences, manufacturing, distribution and nonprofit. She brings a client-focused approach to all aspects of the audit process, taking great care to gain insight into a client’s specific operations and financial objectives resulting in more meaningful recommendations on business systems, internal controls, operational procedures and practices. McDermott’s expertise includes technical accounting matters, such as software revenue recognition, complex debt and equity transactions and accounting for mergers and acquisitions.

New Wealth Advisors is Now MFA Asset Management

New Wealth Advisors of Tewksbury, Mass., a Registered Investment Advisory (RIA) firm, has rebranded as MFA Asset Management, LLC (www.mfa-asset.com).

The new brand identity emphasizes the firm’s fundamental focus on the management of “assets” that an individual or institution owns or controls with the expectation that, over time, they increase in value and provide future benefit, the firm announced. The rebrand also allows the firm to more clearly present themselves as a full-fledged subsidiary of MFA – Moody, Famiglietti & Andronico (www.mfa-cpa.com), an accounting firm in Tewksbury. Along with the new firm name comes a new logo, tagline and website (www.mfa-asset.com).

Scott Tuxbury, president of MFA Asset Management, said the rebranding reflects the firm’s uniqueness in the marketplace. “MFA Asset Management is a rare breed in that we are one of the few RIAs that can actually call themselves a tax and wealth management firm but also a retirement plan advisor providing companies and institutions with fiduciary process management advice as well as essential guidance for ensuring compliance.”

MFA Names Antonelli as Partner

John Antonelli II

John Antonelli II

Moody Famiglietti & Andronico LLP of Tewksbury, Mass., admitted John Antonelli II as partner.

Antonelli has more than 15 years of experience in the CPA profession. At MFA, Antonelli provides advanced tax planning, regulatory compliance and consulting services to clients in a broad spectrum of industries including manufacturing, software development, engineering, construction, real estate, and legal and professional services. He also serves as a trusted advisor to individuals and families who rely on him for valuable tax insight, including developing intelligent strategies for incentive and non-qualified stock options, as well as comprehensive tax planning with respect to their personal income taxes and fiduciary and business affairs.

“In the over three years John has been with MFA, he has shown himself to be the consummate professional. Not only is he unwavering in his commitment and dedication to advancing the interests of our clients but he is also a strong, enlightened leader who effortlessly embraces the Firm’s vision for creating a shared culture of organizational goals, strategies and methods,” says Carl Famiglietti, MP of MFA.

MFA Establishes Canadian Subsidiary

Moody Famiglietti & Andronico LLP (MFA) of Tewksbury, Mass., announced the expansion of its operations with the establishment of a wholly owned Canadian subsidiary, MFA Canada.

The firm is opening an office in the Greater Montreal area and has appointed Gregg Hamilton-Piercy as its managing director. Hamilton-Piercy will continue to oversee the firm’s U.S. valuation operations as he builds a Canadian team to provide local services and support to the Canadian market.

Since 2011, Hamilton-Piercy has served as managing director of the valuation practice at MFA’s affiliate company, MFA Cornerstone Consulting, LLC. He has a diversified background in corporate finance that includes managing valuation and related engagements intended for a variety of purposes including gift and estate tax matters, mergers and acquisitions, equity buy/sell agreements and financial reporting.

“The inherent strength of our solutions is increasingly finding appeal in some of the world’s largest markets and the Canadian market, in particular, represents a huge opportunity for us,” says Carl Famiglietti, MFA MP. “Investing in a locally-based office provides an even greater opportunity for MFA to partner with Canadian-based businesses, entrepreneurs, executives, shareholders and individuals and develop long-term, mutually rewarding relationships in the region.”

Hamilton-Piercy says, “I am excited to lead the firm’s expansion efforts into Canada. MFA is a highly innovative organization and I am confident that our winning formula as a proactive and trusted business advisor will resonate with Canadian companies and ultimately, change the accounting, finance and business consulting landscape there.”

Moody, Famiglietti & Andronico LLP Announces Formation of MFA Capital Advisors; Appoints Managing Director

Moody, Famiglietti & Andronico LLP of Tewksbury, Mass., announced the formation of MFA Capital Advisors LLC, a business consulting and transactional services firm. MFA Capital Advisors will support middle market companies with service offerings encompassing a full range of corporate finance matters including mergers and acquisitions, reorganizations, recapitalizations, stock repurchases, capital raising, bank financing, strategic alternatives and general corporate advisory on related matters.

Laura Moruzzi

Laura Moruzzi

As part of the formation of MFA Capital Advisors, MFA announces the appointment of Laura Moruzzi as its managing director. Moruzzi brings over two decades of investment banking experience in mergers and acquisitions and general corporate advisory services to her role. Prior to joining MFA Capital Advisors, she served as a managing director at a boutique investment banking firm in Boston. She will lead MFA Capital Advisors alongside MFA partner Bill Duratti.

Duratti has over 20 years of experience providing financial advisory and business valuation services to companies and owners considering the sale of a business as well as buyers for whom it is imperative to understand the earnings, tax and strategic significance of an acquisition.

“The formal establishment of MFA Capital Advisors and the hiring of Laura Moruzzi is a natural evolution of our core transaction advisory business,” says Carl Famiglietti, MP of MFA. “We have a proven track record of providing strategic advice to businesses, entrepreneurs, executives, shareholders and individuals as they navigate their most complex business matters.”

Survey: Cybersecurity and Infrastructure Management Top Concerns of IT Audit Leaders

Cybersecurity and privacy issues, along with infrastructure management and emerging technologies, rank as the top technology challenges organizations face today, according to a just-released survey report from global consulting firm Protiviti and ISACA, a global business technology professional association for IT audit/assurance, governance, risk and information security professionals. The survey of 1,062 IT audit and internal audit leaders and professionals found that IT audit is also becoming more involved in major technology implementation projects within organizations.

In the survey, respondents were asked to name the top technology or business challenges their organizations face today. The top 10 responses:

  1. IT security and privacy/cybersecurity
  2. Infrastructure management
  3. Emerging technology and infrastructure changes – transformation, innovation, disruption
  4. Resource/staffing/skills challenges
  5. Regulatory compliance
  6. Budgets and controlling costs
  7. Cloud computing/virtualization
  8. Bridging IT and the business
  9. Project management and change management
  10. Third-party/vendor management

Gordon Braun, a managing director with Protiviti and global leader of the firm’s IT audit practice, says other challenges are just as critical, “from resource and skills gaps to ongoing transitions to cloud and virtual networks. Additionally, as more and more organizations rely on third parties to support critical applications and infrastructure, the need to excel at managing vendor relationships has increased dramatically. Many organizations have not sufficiently addressed maturing their vendor management practices, and the resulting business risks can be significant.”

According to the ISACA/Protiviti survey, titled A Global Look at IT Audit Best Practices, in large companies (greater than $5 billion in revenue), 26% of IT audit functions have a significant level of involvement in major technology projects, while 45% have a moderate level of involvement. IT audit is most frequently involved in the post-implementation stages (65%).

“Seeing greater involvement by IT audit in significant technology projects is a positive trend, especially considering the dynamic nature of technology and critical risks related to security and privacy,” says Christos Dimitriadis, chair of ISACA’s board of directors and group director of information security for INTRALOT. “This is also notable because a substantial percentage of IT projects tend to run over budget and behind schedule and fail to achieve the desired objectives. Having IT audit bring a mindset of risk and control to these projects can be highly advantageous.”

In a majority of organizations (55%), the IT audit director regularly attends audit committee meetings. This represents a 6-point jump from the 2015 survey, and reflects a long-term trend in the survey findings since 2012, when less than one in three IT audit directors attended audit committee meetings regularly.

“There’s no question that cybersecurity and emerging technologies are now a regular topic at the board level,” says Braun. “Audit committee members, in particular, are seeking greater assurance around critical IT risks and controls – internal audit and IT audit leaders must be prepared to demonstrate audit coverage of key areas and articulate where the highest risks remain.”

The Protiviti/ISACA study also found that among large companies, 9% conduct an IT audit risk assessment. However, a majority (55%) only do so on an annual or less-frequent basis. Considering the growing risk landscape resulting from cybersecurity threats and emerging technologies, ISACA and Protiviti suggest that more organizations consider an approach that includes continually reviewing the IT risk landscape and adjusting IT audit plans accordingly.

The survey report is available for download at www.isaca.org/2017itauditstudy and www.protiviti.com/ITauditsurvey