IPA INSIDER: January 2020 News

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

  1. Big 4’s Massive Technology Investments May Reinvent Accounting
  2. Wall Einhorn & Chernitzer Announces New Leader Upon Retirement of Marty Einhorn
  3. Partners Can Be Complacent And Ego-Driven, But Their Success = Firm Success
  4. Ex-KPMG Partner, Inspector Suspended by SEC
  5. PKF O’Connor Davies Merges in Dworken Hillman LaMorte & Sterczala
  6. KPMG UK’s Most Senior Female Partner Quits
  7. BKD Moves Its New York Office to Midtown Manhattan
  8. MBAF Expands Tax & Accounting Practice With Addition Of Kramer & Associates
  9. HW&Co. Names New CEO and Merges In Finkler & Company
  10. Regulators Eye Accounting, Audit Changes for 2020

Frazier & Deeter Acquires Consulting Firm Arch + Tower

Atlanta-based Frazier & Deeter (FY18 net revenue of $96 million) has acquired the boutique consulting firm of Arch + Tower of Atlanta.

Arch + Tower offers a variety of consulting services focused on customer experience, employee experience and operational excellence.

“Expanding our advisory services to encompass customer experience and employee experience builds on our reputation for investing in relationships with our clients and our people,” notes MP Seth McDaniel. “Frazier & Deeter is known for exceptional client satisfaction and our innovative approach to developing our people, and now we will be able to help our clients achieve their goals in these critical areas.”

Frazier & Deeter has added three partners as part of this merger: John Hightower, the CEO of Arch + Tower, will continue to serve in that role as Arch + Tower joins the FD family of brands. Chris Green and Ryan Lahm are joining as partners.

“Frazier & Deeter has a stellar reputation for both client experience and employee development and has corporate values that closely match those of Arch + Tower,” Hightower says. “Frazier & Deeter’s sustained exceptional growth over the past 10 years illustrates the impact that attention to employee experience, customer experience and operational excellence can have on a company’s results.”

McDaniel says, “We have found in our own growth that focusing on employee experience drives client experience and because of that we found Arch + Tower’s service offering intriguing as a new service for our clients.”

Hightower says, “Frazier & Deeter’s sustained exceptional growth over the past 10 years illustrates the impact that attention to employee experience, customer experience and operational excellence can have on a company’s results.”

More news from Frazier & Deeter

Moore Colson Admits Steven Bailey to Partner

Steven Bailey

Atlanta-based Moore Colson (FY18 net revenue of $26.6 million) has announced the admittance of Steven Bailey to the partnership ranks.

Bailey joined Moore Colson in 2010 and was promoted to business assurance director in 2018. He leads audit and assurance engagements for clients in the construction, transportation, software, technology and health care industries. He also has extensive experience in providing transaction advisory services.

MP Bert Mills says, “Steven’s skills and service mentality are a perfect match for the client base he serves, and we look for big things from Steven as he contributes to the growth of Moore Colson, specifically in our construction industry practice.”

More news from Moore Colson

KROST Announces Merger with BPE&H

Pasadena, Calif.-based KROST (FY18 net revenue of $33.8 million) has merged in BPE&H of Woodland Hills, Calif.

Seven principals will join the leadership team at KROST, including Scott Eisner, Martin Belak-Berger, Bob Price, Phil D’Amico, Scott Gilmore and founding BPE&H principals Jerry Block and Jane Plant. The merger adds 30 employees, expanding KROST to 200 team members and increasing its presence in the thriving Woodland Hills area.

The former BPE&H staff will remain at their existing office until next summer when staff from the two offices – KROST also operates an office in Woodland Hills – will move into a new space together.

“Joining with KROST makes sense from a resource standpoint. We now have in-house recruiting and other corporate support systems to alleviate workload on our leadership so we can spend more time with our clients. The firm’s industry task forces are also a great complement to our manufacturing and real estate expertise,” says Belak-Berger.

KROST MP Greg Kniss says, “Merging with BPE&H made sense for us on several levels. Their mission and vision, as well as dedication to superior customer service, resonates with our core values and the principles that we stand by here at KROST. Our tax, accounting and advisory teams will benefit from the added resources; all of which will allow us to continue to support our clients.”

More news from KROST

Restivo Monacelli Appoints Kevin Hundley as MP

Kevin Hundley

Kevin Hundley

Providence, R.I.-based Restivo Monacelli (FY18 net revenue of $7.2 million) has announced that Kevin Hundley has been appointed MP, succeeding Edmund Restivo Jr., who remains with the firm as a founding partner and will continue to service clients.

Hundley joined Restivo Monacelli in 2003 as a manager in the audit and accounting department, and was admitted as a partner in 2008. In that role, he oversaw the firm’s largest practice group and managed a growing team of professionals.

As MP, he will be responsible for the firm’s strategic direction and providing leadership on overall firm matters. Among his priorities are advancing exceptional client advisory service and building a strong culture so that the entire firm is engaged in Restivo Monacelli’s progress.

“Kevin will be an excellent steward as we evolve into a second-generation firm,” Restivo says. “His skills, leadership style and focus on promoting a client-focused and entrepreneurial environment will make him an exceptional managing partner who champions our vision for future growth.”

Hundley has more than 20 years of experience in public accounting. Prior to joining Restivo Monacelli, he began his career and was a manager in the Columbus, Ohio, office of Crowe.

MBAF Expands Tax & Accounting Practice With Addition Of Kramer & Associates

Miami-based MBAF (FY18 net revenue of $132.5 million) has announced its acquisition of Kramer & Associates of Coral Gables, Fla.

The merger, effective Jan. 16, was announced by MBAF Chair and CEO Tony Argiz and James Kramer, principal of Kramer & Associates.

“As we celebrate MBAF’s 50th anniversary, we remain laser-focused on strategically growing both in new markets and those where we have an established presence. Joining forces with Kramer & Associates deepens our expertise in our current practice areas, provides additional resources for our clients and reinforces our position as a leading accounting firm,” Argiz says.

Five full-time professionals from Kramer & Associates will join the MBAF team, bolstering the firm’s expertise in industries such as real estate, high-net-worth individuals, restaurants, service organizations, retail establishments, security companies, wholesale distributors, insurance entities, and more. The Kramer & Associates team will be based out of MBAF’s Coral Gables office.

“In addition to sharing the same core values of integrity, ethics and professionalism, this union gives us access to broader resources, allowing us to further enhance the service we offer our clients,” Kramer says.

More news from MBAF

HHM CPAs Appoints New COO

Chattanooga, Tenn.-based HHM Certified Public Accountants (FY18 net revenue of $30.2 million) has hired Beverly Edge as its COO to support firm growth. Pam Morris, who formerly filled the role, has transitioned to CFO.

“I have no doubt that these two talented professionals will work together seamlessly to drive firm success,” says MP Donnie Hutcherson. “We are honored to have Beverly join us and grateful for Pam’s contributions to the firm.”

Edge, a practicing attorney for over 20 years, will lead the firm’s operations as it continues to grow and expand to new markets. As COO, she will oversee all administrative and operational functions of the firm. Prior to her new role, she was a member at a local law firm where she handled mergers and acquisitions, real estate transactions, aircraft transactions and general representation of closely held businesses.

Morris will oversee the firm’s financial operations. She has over 30 years’ tax and accounting experience and is founder of Freight Depot Accounting, a customized bookkeeping firm for startups and small businesses and an affiliate of HHM CPAs.

More news from HHM CPAs

PIASCIK To Oversee Pageant Balloting in Virginia and Washington, D.C.

PIASCIK of Glen Allen, Va., has been selected to serve as official ballot tabulator of the 2020 Miss Virginia USA, 2020 Miss Virginia Teen USA, 2020 Miss District of Columbia USA and 2020 Miss District of Columbia Teen USA pageants, to be held Jan. 18-19 in Richmond, Va.

During the events, representatives from the CPA firm will volunteer a combined 48 hours of their time on site to tally scorecards and tabulate results.

“PIASCIK upholds a longstanding commitment to community service, and we are proud to give back to the prestigious Miss USA and Teen USA pageants,” says firm founder Steven M. Piascik.

The 2020 IPA Accounting Firm National Benchmarking Surveys are Open for Participation

The 2020 INSIDE Public Accounting (IPA) Annual Survey and Analysis of Firms is now open to all accounting firms in North America. The results of the annual survey are compiled in the IPA National Benchmarking Report. The data is also used to rank the IPA 100, 200, 300 and 400 firms, and the coveted IPA Best of the Best firms. If you would like to participate, please contact our office.

More than 550 accounting firms, ranging in size from $1 million to more than $1 billion in net revenue, participated in IPA’s 2019 Annual Survey and Analysis of Firms. All firms in the U.S. and Canada are encouraged to take part in one of the longest-running benchmarking surveys on accounting firm management.

Firms who would like to participate – at no cost – can contact IPA for details. Participating firms will receive an executive summary of the IPA National Benchmarking Report and will be eligible to be named a 2020 Best of the Best firm or an IPA Top 400 firm.

DEADLINES FOR SURVEY SUBMISSIONS – FIRMS WITH FISCAL YEAR-ENDS OF…

…May 2019 through December 2019: May 4, 2020

…January 2020 through March 2020: May 29, 2020

…April 2020: June 15, 2020

Note: IPA will not accept any submission after June 30, 2020.

THE 2020 IPA SURVEY AND THE INTERNAL OPERATIONAL SURVEYS ARE OPEN FOR PARTICIPATION

In conjunction with the National Benchmarking survey, IPA has launched the Firm Administration, Human Resources and Information Technology surveys. These surveys dig deeper into the operations and best practices of participating accounting firms across the U.S.

Your firm must complete the IPA Benchmarking Survey and Analysis form in order to participate in any of the internal operational surveys (Firm Administration, Human Resources and Information Technology). If you would like to participate, contact our office.

BENEFITS OF PARTICIPATION

If you fully participate in the survey, your firm will be included in one of the largest annual management of an accounting practice (MAP) survey in the country. You will:

  • Become eligible to be ranked among this year’s top firms in the IPA 100, IPA 200, IPA 300 and IPA 400.
  • Become eligible to be named an IPA Best of the Best firm.
  • Receive a complimentary copy of IPA’s August 2020 newsletter, which highlights the annual IPA 400 firm rankings, along with a detailed financial and operational analysis of the IPA 100 firms.
  • Receive complimentary imagery and press releases if your firm is named an IPA 400, a Best of the Best firm or a Fastest-Growing firm.
  • Receive an electronic complimentary copy of the 2020 Executive Summary of the IPA National Benchmarking Report. If you participate in any or all of the internal operational surveys, you will also receive a complimentary executive summary when published in the fall.
  • Receive preferred pricing on accolade reprints for marketing purposes.
  • Receive preferred pricing on the 2020 IPA National Benchmarking Report, the internal operational reports and other benchmarking tools.
  • Be given preference as a source for articles written by IPA throughout the year – an excellent opportunity to market your firm.
  • Gain a competitive advantage and grow your firm with industry insight from the independent benchmarking leader in the nation.

CONFIDENTIAL DATA – WHAT YOU CAN EXPECT FROM INSIDE PUBLIC ACCOUNTING

All confidential firm data, including salaries, compensation, income, etc., will be held in strict confidence and will NOT be shared or publicized in any of the final reporting. We take extreme pride in our ability to collect this data to assist the profession and are now celebrating nearly three decades of surveying accounting firms across the globe.

Please contact IPA at survey@plattgroupllc.com with any concerns or questions. IPA conducts a thorough review of each survey submission for omissions or errors and will reach out to the contact person named on the submitted survey form for any clarifications / updates. Some data, such as firm name, MP(s) name, firm net revenue and organic growth may appear in the IPA newsletter (if accolades are given).

Frazier & Deeter Names Four New Partners

Atlanta-based Frazier & Deeter (FY18 net revenue of $96.0 million) announces that four members of the firm have been admitted as partners:  Clay Huffman, Jason Nelson, Jennifer Ray and Tommy Zavieh.

Huffman has become a partner in the firm’s audit practice. Nelson, Ray and Zavieh are the newest partners in the tax practice.

Huffman, who is also chair of the Georgia State Board of Accountancy, has worked with a variety of institutions, assisting clients with the development of policies and procedures and internal controls over financial reporting, as well as performing and managing financial statement audits and reviews and other attestation engagements. He works mainly with middle-market companies in the private sector, focusing on manufacturing and distribution, construction, aviation, private equity and professional services.

Nelson is in charge of coordinating tax and accounting services for the firm’s business and individual tax clientele. His responsibilities include reviewing a variety of tax returns, tax planning and compliance services with an emphasis in the real estate, non-profit and closely held business areas. He has significant expertise with special tax issues applicable to partnerships, limited liability companies and S corporations. He specializes in working with tax-exempt organizations, including a variety of 501(c) organizations. He is also responsible for training and developing associates on tax engagements.

Ray is one of the leaders of Frazier & Deeter’s tax practice in Tampa, Fla. She has significant experience providing comprehensive tax planning and compliance to the firm’s business and individual clients. Her expertise is concentrated in serving clients in the technology, real estate and manufacturing industries. Jennifer’s primary responsibilities include managing complex individual, large corporate and partnership tax engagements.

Zavieh, based in Atlanta, is the national leader of Frazier & Deeter’s R&D tax credit practice. He has extensive experience in addressing complex business and specialty tax needs for a variety of industries, including automotive, bio-sciences, consumer products, financial services, medical devices, oil/gas, manufacturing, pharmaceutical and technology (software and hardware).

More news from Frazier & Deeter