CST Group Launches Outsourced Accounting Company

CST Group of Reston, Va., an IPA 300 firm, has created a new outsourced accounting company, District Advisory, to help clients with day-to-day accounting, CFO oversight, financial modeling, forecasting and strategy.

“Many of CST Group’s long-established clients and other emerging businesses have been requesting the type of outsourced accounting services we now offer through District Advisory, and we are very pleased to join Zach to meet the demand,” says CST MP Joe Romagnoli, referring to Zach Giegel, the MP of District Advisory.

District Advisory offers dashboard financial tools and accounting system integration designed to improve decision-making with accurate and timely data.

In response to the COVID-19 pandemic, District Advisory has maintained online CARES Act resources and plans to offer integrated business solutions such as in-house marketing, recruiting and human resources management.

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Deloitte Launches U.S. Legal Business Services

New York-based Big 4 firm Deloitte has launched a new U.S. legal business services practice.

The new practice builds on Deloitte’s existing legal department offerings, now with additional services including legal operating model design, contract lifecycle management, legal entity management, regulatory consulting, knowledge management, eDiscovery, data governance, legal invoice review and spend analytics, legal services and supplier sourcing, dispute analysis and forensic investigations.

“Legal departments are under pressure to transform as CLOs contend with new challenges brought on by the dizzying speed of business in a digital age while operating in a constrained budget environment,” says Dan Lange, a partner in the new practice. “This [new practice] allows us to continue our long-standing vision of transforming the business of law through technology, process, enhanced project management and innovative operating models.”

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EisnerAmper Rolls Out Blueprint for Social Distancing

As companies begin returning to physical offices, New York-based IPA 100 firm EisnerAmper has created a new COVID-19 workplace distancing solution to help them do so safely.

Developed by the firm’s enterprise technology and information group primarily for offices of 50 to 500 workers, the new tool helps create office floor plans designed to assist companies with social distancing, scheduling and entry/exit protocols. The solution can assist with assigning entry/exit times for teams and colleagues, measuring and visualizing distancing and adjusting to fluctuating distancing parameters.

“We’re extremely excited and proud to be part of the fight against COVID-19 with our Workplace Distancing Solution,” says EisnerAmper CEO Charly Weinstein. “Beyond its many analytical benefits, this tool can also help organizations strongly convey a focus on health and safety.”

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Getting ‘Unhinged’ at Dean Dorton

Lexington, Ky.-based Dean Dorton Allen Ford PLLC, an IPA 200 firm, has launched the first two episodes of a new business podcast called “Unhinged.”

Hosted by director of accounting and financial outsourcing Justin Hubbard, the program presents a humorous and irreverent take on the world of business, but also offers practical thoughts and ideas for leaders and entrepreneurs. Hubbard’s guests every other week will include Dean Dorton team members as well as local, regional and national business owners.

“The goal here is to say something that gives you a good chuckle under your breath, makes you shake your head, and then realize the next day at work that what you heard makes perfect sense,” Hubbard says. “The main thing is helping your business succeed.”

“Unhinged” is available on major podcast platforms including Apple, Spotify, Google Play and Soundcloud.

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Cohen & Company Launches New Stablecoin Website

Cleveland-based Cohen & Company, an IPA 100 firm, is launching a new website designed to provide transparent reporting to the stablecoin market. Available to the general public, Stableinsight (stableinsight.cohencpa.com) allows visitors to select from certain stablecoins, view the current and historic circulating coins and the collateral balance backing the coins.

The website uses data provided by third parties who have hired independent accounting firms to provide reports on their system and organization controls. Investors can use the site to monitor and confirm the number of coins listed are fully backed by fiat currencies or other collateral as prescribed by the coin issuer.

“We pride ourselves on being the leader in the alternative investment space,” says Corey McLaughlin, national MP for alternative investments. “Our clients and colleagues depend on our knowledge and experience to continue to be forward-thinking and providing the tools needed to navigate our market. Our team goes beyond traditional audit and tax services to offer these services and tools – with the launch of this website we are honoring that commitment.”

Hancock Askew & Co. Debuts New Investment Advisory Firm

Savannah, Ga.-based Hancock Askew & Co., an IPA 300 firm, announced the creation of Clarity Capital Advisors, a new spinoff firm dealing in interim/fractional CFO solutions, M&A and general corporate finance advice for small to mid-sized businesses.

The new entity will be based in Tampa, Fla., and will be led by veteran corporate finance professionals Steve Keaveney and John Stanier, with assistance from Mary Roberts, managing director of Hancock Askew’s transaction and business valuation practice.

“We are keenly aware of the shift in the accounting industry to provide more than just traditional compliance services to clients,” says Hancock Askew MP Michael McCarthy. “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.”

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New Grant Thornton Partnership Focuses on Digital Transformation

Chicago-based Grant Thornton, an IPA 100 firm, is teaming with corporate performance management (CPM) outfit OneStream Software to help clients accelerate their digital transformation and streamline their financial operations on the OneStream XF platform.

The goal is for companies to be able to unify their data and simplify their financial planning, forecasting and analysis by migrating from multiple legacy systems and cloud-point solutions to one platform. Grant Thornton will also deliver its Unified Financial Model on the OneStream XF platform, enabling financial scenario planning using factors such as revenue data, expense analytics and human capital information to generate projected financial statements.

“To put it simply, this alliance means Grant Thornton and OneStream can help enable companies to make educated business decisions and deploy comprehensive financial solutions on a leading performance-management platform,” says Chris Lilley, Grant Thornton’s national managing principal of business applications.

“Grant Thornton is helping drive the digital transformation of the finance team with its highly respected services and its strong commitment to quality – and focus on putting its customers first,” adds OneStream Software vice president of global alliances Stephanie Cramp. “This complements OneStream’s strengths and our own mission to deliver 100% customer success. These similarities have helped forge a powerful alliance that is already delivering results.”

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PKF North America Launches New Advisory Group

PKF North America is launching a new venture that combines the transaction advisory and valuation practices of six North American firms in the group’s network under the umbrella of PKF Advisory. The new venture draws on the experience of consultants from IPA 100 firms Berkowitz Pollack Brant and PKF O’Connor Davies, IPA 200 firm Pannell Kerr Forster of Texas, PC and IPA 400 firm JLK Rosenberger, as well as PKF Boston and PKF Mueller.

This collective will help guide clients through the strategic, operational, regulatory and financial aspects of M&A transactions, valuations and other business advisory challenges. The group’s valuation services will include valuations for financial reporting (fair value and purchase price allocations), tax purposes and financial forensics and litigation, while transaction advisory practice areas will include pre- and post-acquisition due diligence and integration, quality of earnings analysis, carve-out assistance, bankruptcy and restructuring and market value analysis.

PKF Advisory will be led by managing director Byron Hebert, along with Christopher Hatten, Noam Hirschberger and Jonathan Moore.

“Businesses today aren’t just pursuing growth, they’re pursuing transformation across geographies, partnerships and lines of business,” says Hebert. “PKF Advisory offers companies a new and better way to minimize costs, maximize efficiencies and realize new innovations through high-touch relationships and a consistent approach by a national team with transaction advisory and valuation experts.”

Dean Dorton Rolls Out PPP Loan Forgiveness Assistance

Lexington, Ky.-based Dean Dorton, an IPA 200 firm, is offering new services to help clients navigate the processes and paperwork associated with Paycheck Protection Program loan forgiveness.

The firm’s services include reviewing and helping companies complete their forgiveness applications, assisting with calculations, reviewing supporting documentation and answering questions from lenders.

“When COVID-19’s impact on businesses began months ago, Dean Dorton immediately implemented a COVID-19 Solutions response team in order to help businesses assess their options to keep their businesses running and/or restart effectively,” says director of assurance services John Wurtenberger. “Our team keeps companies throughout the United States abreast of all things PPP loan-related and it is clearly a natural fit for us as advisors that we would offer our expertise to help companies maximize their forgiveness as part of the process.”

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With Partnership, Baker Tilly Aims to Translate Data for Health Care Clients

Chicago-based Baker Tilly, an IPA 100 firm, has launched a partnership to help health care clients translate data into written language.

Baker Tilly will use the Wordsmith platform of Automated Insights, a provider of natural language generation software. The platform automates written insights that note key trends in data, allowing hospitals and health systems to quickly identify missed reimbursements, incorrect coding and opportunities to fix human errors.

“Using the Wordsmith application’s natural language generation in our analytic delivery allows us to translate complex data into actionable information for health care revenue cycle users to quickly put to work, without requiring rigorous analytics training,” says Mike Duke, principal with Baker Tilly’s health care consulting practice. “Serving up the information users need in a way they can readily understand eliminates the time they would otherwise spend hunting through the data to find it.”

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