BKD Cyber Offers New Virtual CIO Advisory Services

Springfield, Mo.-based BKD CPAs & Advisors (FY19 net revenue of $662.9 million) has announced that BKD Cyber has launched a new service to help financial institutions with IT issues.

With BKD Cyber’s Virtual Chief Information Officer Advisor Services (BKD vCIO), financial institutions can take care of their IT issues without hiring a full-time senior IT executive.

“Financial institutions are already under immense regulatory pressure to keep in compliance with changes to technology. Understanding that pressure and wanting to offer a solution that is affordable and has a demonstrable return on investment, we determined BKD vCIO could help bridge the gap between budget constraints and regulatory requirements,” says Cindy Boyle, a BKD Cyber partner.

The BKD vCIO team is experienced working in diverse IT environments and are knowledgeable about a broad range of IT core platforms and technologies.

Services include IT strategic planning, IT operational oversight, IT steering committee participation, IT testing preparation, and disaster recovery planning, testing and exam. Services are paid on a subscription basis.

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BKD Offers Financial Modeling Software for Colleges and Universities

Springfield, Mo.-based BKD CPAs & Advisors (FY19 net revenue of $662.9 million) has partnered with PFM Solutions to help colleges and universities improve financial sustainability.

The firm is offering financial modeling software, Synopsis Powered by Synario.

“We understand many higher education leaders are using outdated modeling tools or Excel spreadsheets to make institution-wide decisions,” says Tondeé Lutterman, BKD national industry partner, who called Synopsis a “revolutionary modeling solution.”

Synopsis is a financial and scenario modeling tool that can help academic leaders manage key drivers and configure new scenarios to quickly visualize outcomes, communicate results and make decisions.

“The Synopsis product empowers executive leaders to navigate the financial implications of assorted strategic initiatives in real time and strengthens data-informed decisions,” says David Armstrong, BKD director and higher education leader.

Synopsis is part of BKD’s financial sustainability services.

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Hancock Askew & Co. Announces the Formation of Clarity Capital Advisors

Savannah, Ga.-based Hancock Askew & Co. (FY18 net revenue of $15.7 million) has launched a wholly-owned subsidiary, Clarity Capital Advisors, which offers small and medium-size businesses advice on mergers and acquisitions, general corporate finance and other issues.

Hancock Askew MP Michael McCarthy says, “At Hancock Askew, we are keenly aware of the shift in the accounting industry to provide more than just traditional compliance services to clients. Through the addition of Clarity Capital Advisors and the experience of the team leading the new firm, we continue to be at the forefront of expanding our service offerings and increasing our footprint in the marketplace.” 

Clarity Capital Advisors assists clients with determining appropriate sources of debt and equity capital. Additionally, it provides financial advisory services for management buyouts, recaps and for a strategic alternative review analysis.

Clarity Capital Advisors is led by Steve Keaveney and John Stanier. Mary Roberts, managing director of Hancock Askew’s transaction and business valuation practice, will also provide leadership support.

Stanier says, “I am excited to help launch Clarity. Steve and I have been successful in building value for shareholders through a number of creative capital markets transactions beginning with our first venture together in 1994.” Clients range from an early-stage business with break-even operations to $5 million plus of EBITDA (earnings before interest, tax, depreciation and amortization). Typical enterprise values ranging from $10 million to $150 million, Keaveney says.

Hancock Askew has offices in Georgia and Florida and a staff of over 150 professionals. The firm is an independent member of the BDO Alliance USA.

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IPA INSIDER: February 2020 News

Listed below are the Top 10 most-read stories on the INSIDE Public Accounting blog for the month of February.

  1. CLA Announces Acquisition of Weil & Company
  2. Robert Marzan Joins Cullari Carrico as a Partner
  3. Modeling The Right Behavior When Deadlines Are Tight And Stress Is High
  4. Moss Adams Admits 28 New Partners
  5. Partners Can Be Complacent And Ego-Driven, But Their Success = Firm Success
  6. Frazier & Deeter Acquires Consulting Firm Arch + Tower
  7. Cherry Bekaert Expands Digital Advisory Services with Icimo Acquisition
  8. UHY LLP Welcomes COO, New Partner in Capital Region
  9. Schneider Downs Announces Plan for New Co-MP
  10. REDW Merges in HR Consulting and Legal Practice

BDO Alliance Welcomes 5 New Firms

BDO Alliance USA, the alliance of independently owned accounting, consulting and service firms, welcomes five new CPA firms as members.

The new members are: Tulsa, Okla.-based CCK Strategies, San Francisco-based Bregante+Company (FY18 net revenue of $10.6 million), Martin DeCruze & Company of Stamford, Conn., Fasten Halberstam of New York, and Hall & Company CPAs & Consultants of Irvine, Calif.

The BDO Alliance USA now has 215 CPA member firms in over 500 locations nationwide.

CCK Strategies serves small and middle-market companies, entrepreneurs and wealthy families in the greater Tulsa, Okla., and Frisco, Texas, marketplaces. They specialize in serving manufacturing, real estate, oil and gas, and health care-related businesses.

Bregante+Company serves closely held businesses and high-net-worth individuals throughout northern California.

Martin DeCruze & Company serves private equity firms, closely held businesses and high-net-worth individuals primarily throughout Fairfield County, Conn.

Fasten Halberstam serves high-net-worth individuals and privately held businesses, with a specialization in real estate and health care, primarily throughout the New York metropolitan area.

Hall & Company CPAs & Consultants serves privately held businesses, SEC clients and high-net-worth individuals primarily throughout Southern California. They specialize in serving real estate/construction, law firms and manufacturers.

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Andrew Hicks Joins Frazier & Deeter as VP of Risk Assurance and National Practice Leader

Atlanta-based Frazier & Deeter (FY18 net revenue of $96 million) announces that Andrew Hicks has joined the firm as national practice leader for HITRUST and vice president of risk assurance.

“Andrew’s extensive experience with security risk and controls, particularly within the HITRUST framework, makes him an excellent addition to our team,” says Sabrina Serafin, partner and national practice leader of process, risk and governance.

Hicks specializes in working with organizations to adopt, implement and manage information security programs, specifically related to HITRUST, HIPAA regulatory compliance, risk management and SOC examination procedures. His knowledge of the health care marketplace will also allow the firm to improve its existing assessment and advisory services to overcome information security compliance and regulation challenges, the firm says.

“I’ve had the pleasure of working with hundreds of organizations looking to overcome regulatory and compliance challenges,” notes Hicks. “What interests me most about FD is taking my knowledge of the marketplace and investing in innovative solutions that create tremendous customer value, while simplifying the compliance journey.”

Prior to joining the firm, Hicks was vice president of health care services at Coalfire, where he built a national practice.

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BKD Launches Nonprofit Advisory Services in New York

Springfield, Mo.-based BKD CPAs & Advisors (FY19 net revenue of $662.9 million) has launched a nonprofit advisory services practice in its New York office with the addition of Corinna Creedon to lead the practice.

Creedon has more than 20 years of experience as a finance executive and has provided outsourced CFO services, financial operations and compliance services to a wide range of clients. She offers Sarbanes-Oxley compliance, special project/project management office services and outsourced CFO solutions. Prior to joining BKD, Creedon ran a consulting firm.

“Corinna’s expertise combined with Rick Cole’s recent arrival to the team will allow us to provide additional support to new and existing clients,” says Ryan Reiff, MP for BKD’s New York office.

Nonprofit advisory services include:

  • Accounting and CFO support
  • Grants management and compliance
  • Accounting standards implementation
  • Financial operational assessments
  • Policies and procedures and internal controls

The New York office joins BKD’s nonprofit advisory service practices in Dallas, Kansas City, Mo., Chicago and Denver.

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DMCL Announces New MP, COO, 3 Partners

Vancouver, British Columbia-based DMCL (FY18 net revenue of $31.5 million) announces that Fraser Ross has become the new MP.

Ross has been a partner in the private enterprise group since 1999. He provides accounting, assurance, taxation and business advisory services to owner-managed businesses, not-for-profit organizations and individuals. He also specializes in audit, review and compilation services for privately held enterprises, personal and corporate tax planning and compliance, and transaction advisory services on business acquisitions, dispositions and other corporate re-organizations.

Additionally, Aaron Thompson has become the new COO. Thompson oversees all administration aspects of the firm, including finance, human resources and IT. He started at the firm in 2011 as assistant controller.

The firm also admitted three partners.

Steven Reichert has joined the partnership in the audit and assurance group. He provides accounting and assurance services to both public and private companies and not-for-profit organizations. He joined DMCL in April 2019 after spending his career with a Big 4 firm where he was a senior manager.

Michael Auras has joined the partnership in the private enterprise group. He provides accounting, assurance, taxation and advisory services. This involves services to private companies, individuals and not-for-profit organizations. Specialties include corporate and personal tax planning and compliance, business succession, and the preservation and transfer of wealth.

Keith Changfoot has joined the partnership in the private enterprise group. He provides accounting, assurance, taxation and business advisory services to private companies, individuals and not-for-profit organizations. He serves a variety of sectors including professional services, real estate and property management, construction, manufacturing and retail.

BKD Announces New National Energy and Natural Resources Tax Leader

Springfield, Mo.-based BKD CPAs & Advisors (FY19 net revenue of $662.9 million) announces the promotion of partner Rob Opitz to national tax leader for the energy and natural resources (ENR) practice.

“Rob has been instrumental in bringing together the Dallas/Fort Worth ENR tax team for the development of best practices, technical standardization and an overall go-to-market strategy and he has proven himself as a national leader,” says Brian Matlock, leader of BKD’s ENR practice.

With his promotion, Opitz can now expand his leadership to other key energy markets such as Houston, Oklahoma City, Denver and Pittsburgh, and BKD will offer tailored tax and consulting services to its energy clients nationwide. BKD created the role since the practice has grown significantly.

Opitz brings more than 25 years of experience serving clients in the oil and gas industry. He consults on tax planning and structuring for partnerships, S corporations and transactions. Before joining BKD in 2018, Rob served as MP and head of tax for a Fort Worth, Texas, firm.

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Holthouse Carlin & Van Trigt Admits Largest-Ever Partner Group

Los Angeles-based Holthouse Carlin & Van Trigt LLP (FY18 net revenue of $150.1 million) have announced that nine professionals have been admitted to the partnership, the largest partner group since the inception of the firm in 1991.

They are:

  • Michael Korbekian – audit, Encino, Calif.
  • Ekta Malhotra – audit, Encino, Calif.
  • John Samtoy – international tax, Irvine, Calif.
  • Rosario Bobadilla Farias – audit, Long Beach, Calif.
  • Daren Mesrobian – valuation advisory services, Pasadena, Calif.
  • Sonny Heshmati – tax, West Los Angeles, Calif.
  • Garrett Cushing – tax, Westlake Village, Calif.
  • Eniko Early – tax, Westlake Village, Calif.
  • Sarah Tewner – tax, Westlake Village, Calif.

The firm provides tax, audit and assurance, business management, and mergers and acquisition services. The team consists of nearly 700 members, including over 100 partners and principals. HCVT serves its clients from nine offices in California as well as Fort Worth, Texas, Park City, Utah, and Phoenix.

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