Cynthia Hannafey Joins UHY’s Board of Directors

Cynthia Hannafey

Cynthia Hannafey

Chicago-based UHY Advisors Inc. (FY17 net revenue of $140.8 million) announces that Cynthia Hannafey, a current managing director with UHY Advisors, has joined the firm’s board of directors.

UHY’s nine-member board is charged with the stewardship of the firm, guiding its corporate strategy, reviewing and approving annual budgets, and appointing and monitoring the performance of the CEO.

“Cindy has over two decades of experience advising senior management teams and C-suite executives in regard to operational and financial process optimization,” says Richard David, COO of UHY Advisors. “Her experience leading teams at UHY that analyze and implement strategies, processes and technologies to address enterprise-wide challenges is a significant asset to our clients.”

Anthony Frabotta, chairman and board member of UHY Advisors, says, “Cindy’s technology background is an immediate boon to a versatile team representing various geographic regions and professional specialties that bring unique and insightful perspectives to our firm.”

Hannafey, based in Atlanta, provides portfolio, program and project management; software selection and digital transformation services; post-merger integration; and operational and financial process optimization services to client companies.

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BKR International Names Raymi Mejia New Americas Regional Board Chair

Raymi Mejia

Raymi Mejia

BKR International has appointed Raymi Mejia, partner at Mejia Lora & Asociados (MLA) in Santo Domingo, Dominican Republic, as chair of the Americas regional board.

Mejia has served as a board member for BKR’s Americas Region since 2012 and, most recently, as the board’s vice chair. He has been instrumental as a liaison with Latin American and Caribbean member firms for the association. He will also represent the Americas region on BKR’s worldwide board.

Mejia has more than 25 years of experience in audit and tax. He has served as an advisor in the negotiations of transfer pricing agreements between the National Association of Hotels and Restaurants and the General Directorate of Internal Taxes. He has vast experience in the hospitality sector, participating in audit and tax advice to the main international hotel chains with locations in the Dominican Republic.

“As we focus on the firm of the future, it is vital that our Americas regional board sustains leadership from both emerging and developed economies to best represent the global market,” notes A.J. Johnson, BKR’s Americas regional executive director. “

BKR International has also appointed Kenneth B. Laks to the Americas regional board for three, two-year terms. Laks is a partner at Hauppauge, N.Y.-based Albrecht Viggiano Zureck & Co. (AVZ). AVZ has been a member of BKR International since 1986. Laks is a frequent presenter at BKR member conferences around the world on issues regarding international taxation. He serves as chair of BKR’s worldwide international tax committee and is also a member of its Americas regional international tax committee.

Karen Brenneman, MP at Hall Kistler & Company of Canton, Ohio, and ex-officio chair of BKR’s Americas region will remain a member of BKR’s worldwide board.

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McKonly & Asbury Announces New Principals

Shalane Cohen

Camp Hill, Pa.-based McKonly & Asbury (FY18 net revenue of $9.6 million) announces that two professionals have been admitted to the leadership team as principals, Shalane Cohen and Danielle Guinter.

Danielle Guinter

Cohen and Guinter both joined McKonly & Asbury in 2005. They each have 14 years of audit experience and are leaders in the firm’s assurance and advisory practice. They work out of the Camp Hill office.

Cohen primarily works with clients in employee benefit plan and manufacturing industries. She is active on the firm’s LEAN Committee and is also involved with recruiting and finding talent for the practice.

Guinter works with clients in the construction, employee benefit plan and manufacturing industries.

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SEC Names Sagar Teotia As Chief Accountant

Sagar Teotia has been named the SEC’s chief accountant, serving as the main advisor on accounting and auditing issues while leading a 45-member staff.

Teotia will also be responsible for assisting the commission with oversight of the Financial Accounting Standards Board (FASB) and the PCAOB.

“In his role as acting chief accountant, Sagar has skillfully continued the exceptional leadership of the office and clearly has the support of his colleagues,” says SEC Chairman Jay Clayton. “I am pleased he will continue to promote the importance of effective financial reporting and auditing both domestically and internationally.”

Teotia has also served as deputy chief accountant, leading the accounting group since 2017. He started his career at the SEC as a professional accounting fellow from 2009 to 2011. He rejoined the SEC in 2017 from Deloitte, where he was a partner responsible for providing consultation regarding accounting matters.

Teotia’s office is responsible for establishing and enforcing accounting and auditing policy as well as improving the professional performance of public company auditors. The office works to improve the transparency and relevancy of financial reporting and ensure that financial statements are fair and credible.

Withum Admits Six Partners

(l-r): Anthony Aniello, Chaya Siegfried, Ryan Shannon, Joseph Malfettano, Jessica Hollobaugh Giresi, Erik Halluska

Princeton, N.J.-based WithumSmith+Brown (FY189net revenue of $223.3 million) has admitted six principals and senior managers to the partnership group.

“Each of these professionals represents Withum’s next generation of leaders tasked with carrying on the tenets of our enduring company values and Withum Way traditions,” says MP and CEO Bill Hagaman. “Collectively and individually, they represent cooperation, integrity, giving back and a vision for growth that welcomes innovation and change.” The six new partners join a corporate leadership team of more than 120 partners.

The new partners are:

  • Anthony Aniello, U.S. and international tax compliance and consulting, Boston
  • Erik Halluska, assurance and accounting, Orlando, Fla.
  • Jessica Hollobaugh Giresi, litigation consulting, Princeton, N.J.
  • Joseph Malfettano, team leader for New York construction services group, New York and Red Bank, N.J.
  • Ryan Shannon, team leader for technology services group, New York
  • Chaya Siegfried, leader, international business tax services, Red Bank, N.J.

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Brad Smith Assumes MP Role at MCM CPAs & Advisors

Brad Smith

Louisville, Ky.-based MCM CPAs & Advisors (FY18 net revenue of $56.8 million) has transitioned the MP role to Brad Smith, the firm’s former assurance services team leader. Smith, who has been with the firm for the past 17 years, is replacing Diane Medley, who will assume the role of executive chairman at MCM.

They’ve been working together on the transition for the past year. “The accounting profession is evolving, and we’re responding to those changes, but I want to ensure we’re always building on the strong foundation provided by our firm’s founders,” Smith says.

Smith will lead the strategic direction of the firm for its nearly 350 employees who work across its five offices in Kentucky, Indiana and Ohio. He will steward MCM from a business perspective, lead client service and growth initiatives, and work with the firm’s partners and industry and service leaders to set and achieve short- and long-term objectives.

In her new role as executive chairman, Medley will remain with MCM full time and continue to work with select clients, manage firm governance and lead several strategic initiatives. She will also take on a strategic leadership role with Meritrust Wealth Management, an MCM-affiliated financial services firm that she originally founded. She will continue to represent the firm through her various community leadership roles.

Smith’s primary focus with clients is middle market growth-oriented companies in the manufacturing, distribution, services and construction industry niches. He is also active in community endeavors.

“I know that Brad will always have the best interest of MCM’s clients, partners and team members in the forefront of his vision and execution of strategy for the firm,” says Medley.

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Clark Schaefer Hackett Admits Two Shareholders, Promotes Others

David Klopfer

Cincinnati-based Clark Schaefer Hackett (FY18 net revenue of $64.8 million) has announced the promotions of 53 professionals throughout the firm, including two who have been admitted to the partnership group.

“Through their dedication and hard work, these recently promoted employees continue to further our mission of bettering the lives of our clients, people and communities,” says president Kerry Roe.

The new partners are:

  • David Klopfer, financial services industry group, Cincinnati
  • Brittany Lawrence, tax planning and compliance, Fort Mitchell, Ky.

The following professionals were promoted to principal:

Brittany Lawrence

  • Brandon Butcher, tax compliance and consulting, Cincinnati
  • Brad Eberhard, audit, Columbus
  • Cathy Smucker, tax, Columbus

Founded in 1938, Clark Schaefer Hackett has more than 450 shareholders and staff in eight offices throughout Ohio, Kentucky and Michigan.

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GBQ Admits Minton as Partner, National Restaurant Practice Leader

Dustin Minton

Columbus, Ohio-based GBQ (FY18 net revenue of $31.7 million) has announced that Dustin Minton has joined the firm and has been admitted as a partner within the assurance practice. Based in the Cincinnati office, Minton will lead GBQ’s national restaurant industry efforts.

 Minton has over 20 years of public accounting experience, including 15 years working with many of the nation’s fastest-growing restaurants and most well-respected brands across all restaurant segments. Prior to joining GBQ, he was a partner and restaurant practice leader at three other firms.

“Our market insights indicate that there is an unmet need at this time for a firm focused on the private company, mid- to smaller-size restaurants. With Dustin’s leadership, we plan to be the firm that fulfills that need,“ says Tom Powers, director of assurance services.

Minton specializes in providing accounting and consulting services for privately held restaurants and franchisors. In addition to traditional audit, review and compilation services, he also consults with restaurants on best practices related to internal controls, benchmarking, franchise development, corporate structures, financing options and growth strategies.

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KPMG Study: Women Execs Say They Must Adjust Leadership Style to Advance

A majority of executive women say they must both change their leadership styles and be more adaptable than their male counterparts in order to lead successfully and advance in their careers, according to Big 4 firm KPMG.

“Advancing the Future of Women in Business: A KPMG Women’s Leadership Summit Report” polled 550 executive women who are one to two career steps away from the C-suite and have participated in the KPMG Women’s Leadership Summit.

KPMG U.S. Chairman and CEO Lynne Doughtie says, “It’s important for organizations everywhere to gain a more thorough understanding of the specific challenges women on the verge of breaking into the C-suite face. Our latest study provides valuable insights into these challenges. We hope it inspires women to aim high and lead with purpose.”

Key findings of the study include:

  • 66% say they must change their leadership styles more than their male counterparts as they rise to higher levels within an organization.
  • 81% believe that women must be more adaptable in situations than men in order to lead successfully and advance in their careers.
  • Because of feedback like being “too bossy or demanding,” “not aggressive enough,” “not collaborative enough,” and “too direct,” 58% of women surveyed say they change their leadership style to combat such perceptions.
  • 49% of executive women identify most with an authentic leadership style but struggle to define how much authenticity is too much. Women executives believe their authenticity must decrease as they rise in the ranks.
  • 58% of women executives surveyed believe a transformational leadership style is needed to reach the C-Suite.

The women executives included in the in-depth survey represent a range of industries across more than 150 of the world’s leading organizations and were nominated by their CEOs to attend the Summit. Download the full report.

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EY’s Grier and BDO’s Berson Tapped to Lead the CAQ Governing Board

Kelly Grier

Kelly Grier

The governing board of the Center for Audit Quality (CAQ) has elected new leadership.

Effective Oct. 1, Kelly Grier, U.S. chairman and MP and Americas MP at Big 4 firm EY, will become the governing board’s chair. Wayne Berson, CEO at Chicago-based BDO USA LLP (FY18 net revenue of $1.46 billion) and global chairman at BDO International, will serve as vice chair.

“We are delighted and grateful that Kelly Grier and Wayne Berson will step into these leadership roles on the CAQ governing board,” says CAQ Executive Director Julie Bell Lindsay. “Their vision, energy and judgment will be instrumental to the CAQ’s continuing efforts to enhance investor confidence and public trust in the global capital markets.”

Wayne Berson

Wayne Berson

Grier says, “In an era of accelerating change, the CAQ’s overarching mission of fostering trust in audit quality and financial reporting is more important than ever.”

Berson says, “The auditing profession strengthens confidence in our capital markets, and the CAQ strengthens the work of public company auditors.”

The CAQ’s governing board is comprised of CEOs from leading public company auditing firms and the AICPA, as well as three independent board members from outside the public company auditing profession. The board provides oversight for the organization and leads the development of its strategic agenda.

CAQ governing board chairs and vice chairs are elected to two-year terms.

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