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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Baker Tilly Expands Philadelphia Life Sciences and Technology Practices with New Partner

Immanuel John K.

Chicago-based Baker Tilly (FY18 net revenue of $578.4 million) announces that Immanuel John K. has joined the firm and was admitted as a partner in the Philadelphia commercial practice. He will focus on the firm’s growing life sciences and technology industries.

John K. has more than 30 years of experience advising and auditing private and public companies in the following industries: technology, life sciences, professional services, medical devices, telecommunications, manufacturing and distribution. His experience includes advising and assisting clients in the IPO process and in secondary offerings.

“Immanuel’s experience as an advisor, auditor, thought leader and community advocate will greatly contribute to the growth and success of our firm in the Philadelphia market,” says Fred Massanova, Philadelphia MP and commercial practice leader.

John K. has authored many articles, frequently speaks at industry events and serves as the treasurer of the Philadelphia-Israel Chamber of Commerce.

In his previous position at a multinational accounting and consulting firm, John K. led the technology and life sciences industry practice in Philadelphia and the Northeast U.S. for several years. He also served as that firm’s national leader of the software and life sciences industry segments, advising companies on various business issues.

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Wipfli Announces Changing Roles for Leaders

Milwaukee-based Wipfli LLP (FY18 net revenue of $317.9 million) has announced several changes to its leadership team, which became effective on June 1.

Seven of the firm’s senior partners are taking on expanded leadership roles as Wipfli welcomes Kurt Gresens as its new MP and 12 new partners from within the firm’s ranks. These changes are a result of Wipfli’s continued growth and its focus on preparing the firm for the future.

Partners with new roles are:

Kelly Arduino, Health Care Industry Leader, has over 18 years of experience in health care, with an emphasis in health care finance and strategy. She functions as a business advisor and facilitator for her clients and is often the liaison between and among health care organizations as they develop “partnerships” or other joint planning efforts.

Stephanie Cavadeas, Audit and Accounting Quality Control Partner, has more than 16 years of experience working in the nonprofit and governmental practice group overseeing audits of grant-funded nonprofits, community-based organizations, and associations/membership organizations. For the past several years, she has been in charge of Wipfli’s internal inspection program and has been highly involved with our triannual outside peer review.

Kelly Fisher, Practice Partner, has more than 17 years of public accounting experience in manufacturing, technology, professional services and international operations, including experience with a Big 4 accounting firm. Most recently, she focused on leadership and management of the firm’s tax practice. In her new role, innovation and strategic transformation will be a primary focus.

Ken Kortas, Business Solutions Group Leader, has more than 25 years of management and information technology consulting experience. He is a specialist in identifying business requirements and defining and implementing management plans. Business processes, organizational designs and information technology strategies are integral parts of his skill set.

Scott Nelson, Audit and Accounting Leader, has more than 30 years of experience serving clients in the manufacturing, wholesale, broadcasting, relocation and service industries. As a client relationship executive, he focuses on gaining an understanding of the client’s goals and managing Wipfli’s client service team to assist in achieving those goals.

Scott Schumacher, Tax Practice Leader, has more than 20 years of experience working with businesses to claim and substantiate a tax incentive for research and development activities. In addition, he works with closely held and family-owned businesses in the manufacturing and distribution sectors, providing them and their ownership group with tax compliance and planning services.

Dan Szidon, Core Services Leader, has nearly 30 years of professional experience at Wipfli, working in audit and accounting services, as well as consulting on various business issues. More recently, he has focused the practice on providing financial and consulting services and firmwide management.

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Prager Metis Names New OMP in New York

Stuart Mayer

New York-based Prager Metis CPAs (FY18 net revenue of $98.2 million) announces that partner Stuart Mayer has been named OMP in the New York office.

His key responsibilities include growth, profitability, management and leadership, and  organization and personnel. He will also continue to lead the firm’s private companies group from the Manhattan office.

“This achievement is a testament to Stuart’s professional growth and dedication to the success of the firm,” says Lori Roth, MP of the Northeast region of Prager Metis. “We are excited to see him excel in this role and I am certain his leadership will allow for continued success and growth in our New York office.”

Mayer focuses his practice on new business and client development in a variety of industries including fashion, online media and interactive services companies. He also works extensively with the real estate industry, including CIRAs, developers, management companies and rental companies.

He has been featured as “Executive of the Month” by New York Real Estate Journal, and was selected as a “Top 40 Under 40” by Long Island Business News.

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LBMC Admits Seven New Shareholders

Brentwood, Tenn.-based LBMC (FY18 net revenue of $104.3 million) announced leadership appointments to accommodate company growth in areas dedicated to serving a variety of middle market and health care client needs. LBMC has named seven new shareholders, the largest new shareholder class in the firm’s more than 30-year history.

“I am pleased to welcome seven new shareholders to the LBMC family and congratulate them on their outstanding achievements,” says Jeff Drummonds, CEO of LBMC. “These exceptional leaders represent the largest new shareholder class in the history of our firm. This milestone is indicative not only of our significant growth, but also our commitment to providing opportunities to leaders that exemplify our shared vision to make LBMC the best choice for clients and colleagues. I look forward to seeing them lead the way as we continue to expand our national reach while maintaining our high level of client service delivery.”

The promotions include experts from seven different practice areas: health care and private equity tax services, wealth advisory, transaction advisory, valuation and litigation, health care valuation, information security and assurance. The new shareholders include three leaders in the firm’s Knoxville, Tenn., office and four in the Brentwood office.

Ben Carver specializes in the health care and health care IT industries with an emphasis on private equity and venture capital backed companies. Carver assists clients with a variety of tax issues including tax compliance, tax accounting assistance, financial statement reporting, multi-state tax planning and merger integration.

Bill Dean is the East Tennessee market lead for Information Security. He is responsible for incident response, digital forensics, electronic discovery and litigation support for the Information Security Services division.

Andy Lowe serves as the Knoxville Market Leader and head of the Valuation & Litigation Support Services group in the firm’s Knoxville office. Lowe performs valuation engagements of closely held businesses and business interests for gift, estate and income tax planning and financial reporting, intangible asset valuations including business combinations and goodwill impairment testing. He also provides litigation support services for family law and commercial litigation, as well as merger and acquisition and business transition services.

April Mitchell advises high wealth individuals and families, trusts and estates on complex tax matters. Her experience includes coordinating tax services to closely held businesses in various industries as well as consulting in areas including wealth transfer, real estate holdings, investment partnerships, foreign investment reporting and private foundations.

Jayme Parmakian works with private-equity backed and closely held companies in the health care industry. In addition to tax compliance and consulting work, Parmakian coordinates tax services for the firm’s transaction advisory group working on both buy and sell side diligence and structuring.

Katie Tarr specializes in Compensation Valuation (CV) services including assisting health care organizations in determining the fair market value of physician compensation arrangements. Tarr also has experience in the valuation of physician practices and other types of health care service arrangements, as well as due diligence and clinician compensation consulting.

Andrew Usery manages assurance engagements for family owned, private-equity backed and other closely held entities. His industry experience includes manufacturing, distribution, foreign-owned, services, construction and broker-dealers. He also serves retail companies and FINRA-regulated broker-dealer clients. He is a firm leader in the use of data mining and analytics.

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Grant Thornton Names Alan Herrmann as West Region Tax Practice Leader

Alan Herrmann

Chicago-based Grant Thornton LLP (FY18 net revenue of $1.9 billion) has named Alan Herrmann as the firm’s West region tax practice leader. In his new role, Herrmann will manage tax operations across Grant Thornton’s 13 West region offices to expand the firm’s presence, collaborate across service lines and develop talent.  “Alan has proven himself to be an impressive tax professional dedicated to creating innovative solutions that best meet the needs of our clients,” says Brian Lucas, national tax operations leader at Grant Thornton. “His business acumen and leadership skills will spur continued growth across the firm’s West region.”

Herrmann joined Grant Thornton in 2002, and has experience in the taxation, planning and structuring of consolidated corporations, partnerships, limited liability companies and S corporations. He works with clients across numerous industries to provide tax planning services and consults on specific tax issues, such as ASC 740, reorganizations, mergers and acquisitions, and accounting methods. He is also actively involved with Grant Thornton’s Washington National Tax Office.

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