Prager Metis Announces New Affiliate – Prager Metis Technology

New York-based Prager Metis CPAs (FY15 net revenue of $43 million) has created a new technology company specializing in cybersecurity, risk intelligence and regulatory compliance called Prager Metis Technology.

Peter Fiorillo

Peter Fiorillo

The company will be led by Peter Fiorillo, president and CEO. Fiorillo joins Prager Metis from Madison-Davis Professional Services (MDPS), where he served as president and CEO. Ira Schechtman of Accounting Firm Search Associates acted as a facilitator in the transaction.

Prager Metis Technology was formed in response to the significant regulatory requirements being implemented at both a federal and state level. The Cybersecurity Information Sharing Act of 2015 encourages businesses and the federal government to share cyber threat information in the interest of national security.

Also, last year the New York Department of Financial Services (DFS) raised the bar for cybersecurity programs, as the first state to release cybersecurity regulations that will go into effect on March 1. The regulations will affect all entities with a DFS “license, registration, charter, certificate, permit, accreditation or similar authorization under the banking law, the insurance law or the financial services law.” Among other things, the regulation requires each entity’s board of directors to file an annual certification of compliance with the superintendent of DFS.

With the ever-increasing requirements placed on cybersecurity resiliency and as regulators tighten their grip, financial institutions, as well as all companies on a global basis, need to have a cost-effective, efficient and integrated cybersecurity, risk management and regulatory compliance program that can respond in hours and days, not weeks and months, the firm says. As such, Prager Metis Technology and Fiorillo will be providing these programs, technology solutions and subject matter expertise to help companies.

Dixon Hughes Goodman Expands Services in Nashville, Adds HDR Consulting

Charlotte, N.C.-based Dixon Hughes Goodman (FY16 net revenue of $394 million) announces that it is expanding services in Nashville, Tenn., by adding to the areas of health care consulting, risk advisory and audit and tax.

The principal and employees of HDR Consulting (HDR), headquartered in Nashville, officially joined the firm’s national health care practice on Jan. 2. Founded and led by Beth Mullins, HDR has been providing strategic planning, managed care negotiations, physician integration, analytics and data consulting services to clients nationwide since 2006. HDR has worked to develop and implement strategies that drive increased revenue and other value for its many health care clients.

The new resources will complement the risk advisory team, led by Mark Schmadtke, and the health care consulting team, led by Kevin Locke, Nashville Office MP.

The Nashville office has grown significantly since it began in 2011, serving nearly all of the for-profit, not-for-profit and academic medical centers in the region. The firm also plans to expand beyond the health care industry into core audit and tax within banking, manufacturing, distribution, technology and other industries.

“Expanding our service offerings and building on the momentum of our health care and advisory teams is a logical next step in DHG’s growth strategy,” says Locke. “Nashville has been on our radar as a strategic location where we will continue to invest, grow and serve.”

In addition, partner John Brock, who joined the firm’s Atlanta office in August 2016, will relocate to Nashville, to work on the health care transaction advisory services team, and partner Paul Hopkins relocated from Memphis, Tenn., to establish a local audit and tax practice. He is joined in Nashville by a team of assurance and tax professionals who have relocated from other offices or recently joined the firm in Nashville.

The firm’s Nashville expansion is part of a larger growth strategy throughout the Southeast and in its national service lines. The firm is also looking to add resources and capabilities in Atlanta, Tampa, Fla., and Dallas-Fort Worth, Texas.

Bonadio Group Creates New Health Care Subsidiary

Pittsford, N.Y.-based The Bonadio Group (FY16 net revenue of $89.3 million) has created a subsidiary for consulting work in the health care industry.

Beacon Solutions Group comprises two consulting firms that help health care organizations with their business operations. The deal brings together Bonadio Receivable Solutions (BRS), a longtime subsidiary of the Bonadio Group, and IM Solutions, an independent consulting firm in Buffalo, N.Y.

The owner of IM Solutions, Patrick Flaherty, is Beacon Solutions Group director, while Andrea Hagen, director of BRS, is a principal in the new company, along with Karen Donovan and Maureen Weir from IM Solutions. The new company employs 17 people at its Buffalo and Rochester locations.

“As good as these two companies were on their own, together as Beacon Solutions Group they will be able to deliver more services that directly improve their clients’ business operations,” says Mario Urso, MP of the Bonadio Buffalo office and supervising partner for Beacon Solutions Group.

Citrin Cooperman Launches Government Contracting Practice

Shawn Howard

Shawn Howard

IPA 100 firm New York-based Citrin Cooperman (FY15 net revenue of $207 million) announced that it is launching a government contracting practice, which will be led by Shawn Howard and Sirena Johnson in Bethesda, Md.

They bring extensive experience providing audit, accounting and tax compliance and consulting services to clients in the government contracting space and will advise a diverse array of businesses across the country, including technology, communications, defense, security, intelligence, and professional services companies.

“The addition of both Shawn Howard and Sirena Johnson to the firm further demonstrates our commitment to continue the growth of Citrin Cooperman with enhanced services that bring direct value to our clients,” said CEO Joel Cooperman. “Their deep experience and technical knowledge will provide us with the right foundation to enter the government contracting space seamlessly and significantly.”

Sirena Johnson

Sirena Johnson

 

Prior to joining Citrin Cooperman, Howard and Johnson served as principals in an accounting firm based in the Washington D.C. metro area. Howard was responsible for the review of federal and multi-state tax returns, as well as tax planning strategies for a variety of domestic and international clients, including government contractors, professional service firms, technology companies, and private equity firms.

“I’m looking forward to hitting the ground running with the launch of Citrin Cooperman’s new government contracting practice,” says Howard. “Increasing regulatory requirements and compliance concerns have set a new normal in standards making the government contracting space a prime market.  Our dedicated team is well positioned to help our clients navigate through this dynamic environment.”

Johnson specializes in providing auditing, consulting and accounting services to government contractors, technology companies, and employee benefit plans.  Johnson also provides services related to mergers and acquisitions and strategic planning, in addition to consulting with government contractors in dealing with the Defense Contract Audit Agency (DCAA).

“Citrin Cooperman is known to be a dynamic firm with an unbelievably deep level of resources and an excellent reputation for client service,” adds Johnson. “Being able to participate in the growth by launching the new practice is a privilege and I am looking forward to getting started.”

Marks Paneth Launches Health Care Practice

New York-based Marks Paneth (FY15 net revenue of $111 million) has announced that the firm has launched its health care practice.

The practice will be spearheaded by two industry veterans – partner Jacob Beniawski and principal Joseph Frohlinger – each bringing more than 25 years of experience serving the health care industry.

With the addition of Beniawski and Frohlinger, the firm will now offer audit, tax, advisory and financial consulting solutions to a broad spectrum of organizations within the health care industry, such as nursing homes, home care, managed long-term care plans, health maintenance organizations (HMOs), diagnostic and treatment centers, mental health agencies and hospitals.

“The formation of our health care practice is the natural result of synergies across our firm’s practices and yet another exciting step toward our firm’s strategic vision,” says MP Harry Moehringer.

“The ever-evolving landscape across the health care sector presents opportunities and challenges both for nonprofits and for-profits,” says Michael McNee, PIC of the firm’s nonprofit and government group. “Leveraging the extensive capabilities of our nonprofit practice and the industry-specific expertise brought on by Jacob and Joseph, creates a specialized suite of services well-tuned to the needs of the health care sector.”

Marcum Opens First European Office in Ireland

New York-based Marcum (FY15 net revenue of $412 million) has opened its first office in Europe. Located in Dublin, Marcum RBK (Ireland) Limited is a joint venture with Russell Brennan Keane (RBK), the largest independent accounting and business advisory firm in Ireland.

The new venture was established as a service center for current and future hedge fund and private equity fund clients of the Marcum Alternative Investment Group. It combines Marcum’s leadership as a Top 5 U.S. hedge fund service provider with RBK’s nearly 60 years of experience providing audit, accounting, taxation and business advisory services to domestic and overseas businesses.

“Marcum RBK (Ireland) is perfectly positioned to assist both mature funds and managers needing to navigate the process of establishing a new fund in Ireland, including optimizing the fund’s structure,” says Beth Wiener, PIC of Marcum’s Alternative Investment Group. “We can now provide localized expertise in Ireland to our hedge fund and private equity fund clients to assist them in creating new business opportunities in the investment-friendly Irish market.”

The three leading fund domiciles globally are the United States, Grand Cayman and Ireland. Marcum RBK (Ireland) completes the firm’s service coverage in each of these areas.

“Marcum’s new presence in Ireland, our first in Europe, reflects the firm’s commitment to continually expand our service capabilities and geographic footprint to meet our clients’ needs. RBK’s long history as Ireland’s leading independent accounting firm makes them an ideal partner for Marcum in this venture,” says Jeffrey Weiner, Marcum’s MP.

“Ireland has demonstrated a commitment to creating a compelling business environment for funds in Europe. It has become a global financial center due to its competitive tax structure as well as the new opportunities created by Brexit, which is enabling Ireland to step up as a key gateway to the European market,” Beth Wiener says.

Citrin Cooperman Pilots New Business Alliance

IPA 100 firm New York-based Citrin Cooperman (FY15 net revenue of $207 million) has announced a new program – the Citrin Cooperman Business Alliance.

The firm will offer a variety of technical services, continuing professional education, and soft skills training to CPA firms to help them maintain clients, grow connections and improve overall profitability.

“We are anxious to test pilot this program as we believe many CPA firms can use our resources to help them maintain and grow their business,” says Joel Cooperman, Citrin Cooperman’s CEO. “The Citrin Cooperman Business Alliance will offer our members access to a customized suite of resources and services that speak to their unique needs.”

Alliance members range from mid-size, regional CPA firms to small boutique firms and private practices throughout the United States. Citrin Cooperman will offer services under four key areas, including:

Citrin Cooperman University (CCU) – Technical training on core audit, tax and accounting, and soft skills on leadership, business, and personal development.

Marketing consulting – A menu of marketing services to help members build and maintain brand position in their markets.

Infrastructure support – Resources that can assist with consulting or more hands-on support for a variety of internal operations.

Technical support for specialty services – A range of technical resources that can assist with providing support in areas such as audit quality control, international tax, valuations, litigation support, state and local tax, transaction advisory services, technology consulting, etc.

Cherry Bekaert Launches Cloud Solutions Practice with Doucet at Helm

Richmond, Va.-based Cherry Bekaert (FY16 net revenue of $164.2 million) has launched a cloud solutions practice to help companies understand and migrate to the cloud in three main areas: Enterprise Resource Planning (ERP), Customer Relationship Management (CRM) and e-commerce.

Paul Doucet

Paul Doucet

Heading this new practice area is Paul Doucet, the firm’s first national managing director of cloud solutions.

The initiative is part of THInc., Cherry Bekaert’s practice area focused specifically on innovation in the technology, health and life sciences, and industrial sectors.

The firm’s cloud solutions practice will help clients implement companywide processes and systems that are aligned with their company’s strategic plan, helping define a pathway to success and transition to the cloud in less than 100 days.

Formerly a CPA, Doucet possesses extensive knowledge of technology and managing organizations. He has been a leader in the early evolution of technology trends, including SaaS, cloud, mobile and digital solutions. In addition, Doucet founded a global award-winning technology consulting company that provided strategic direction and integrated cloud-based business management solutions to clients for over 15 years. Prior to joining Cherry Bekaert, Doucet was a cloud practice leader at Capgemini, one of the world’s leading providers of consulting, technology and outsourcing services.

“Paul has so much experience working with various companies that when he’s making recommendations, you know they are solutions that really work within an organization’s structure and work culture,” says Kip Plowman, the firm’s MP of strategic markets. “He brings a holistic perspective implementing technology that helps businesses grow and thrive.”

MGO Names Yorkshire as Partner Overseeing Music Practice

Adam Yorkshire

Adam Yorkshire

Los Angeles-based Macias Gini & O’Connell (MGO) (FY15 net revenue of $39 million) has bolstered its service offering by adding music to its list of industry specialties.

Adam Yorkshire, who joins the firm as partner, will lead a team of music and business management industry professionals based in Los Angeles.

“We are assembling a cadre of young, talented professionals, like Adam, to better address the ever evolving shifts in the industries we serve,” said MGO’s CEO and MP Kevin O’Connell. “Adam brings a specialized expertise to our practice, specifically in the areas of touring, merchandising and royalties.”

MGO is one of the 2016 IPA 100 Fastest-Growing Firms. It offers assurance, tax, advisory, outsourcing, staffing and business management services, expands its value to clients by offering music industry expertise in much the same way that it has long served the film, television and sports sectors.

“My team and I bring a new and different perspective on the handling of music and sports clientele,” Yorkshire says. “Together with the other MGO partners, we have a veritable plethora of ways – including business management services – that we can add value to firm clients.”

Yorkshire says he particularly loves working with concert tours. “Overseeing a tour is one of the most exciting aspects of what we do, and is a constant reminder of the number of talented artists that exist. We work with them and their teams to ensure all aspects of a tour are properly executed in order to ensure the artist can create a memorable experience for fans.”

REDW Expands Valuation, Forensic and Litigation Practice

Albuquerque, N.M.-based REDW (FY15 net revenue of $26.9 million) has joined forces with Jim Sell and his Phoenix-based consulting business, James C. Sell PC, as part of a strategic expansion of its valuation, forensic and litigation services practice.

Sell will play a significant role in this newly expanded practice as a senior forensic consultant in REDW’s Phoenix office.

REDW’s decision to combine forces with James C. Sell PC stems from a set of shared values and a commitment to serve clients over the long term. For more than 60 years, REDW has served Southwestern markets as one of its leading firms, and has carefully been evaluating opportunities for expansion. In joining REDW, Sell brings an additional 35 years of expertise in forensic accounting to REDW, while continuing to serve his long-standing clients.

During his career, Sell developed a highly respected specialty practice as a “receiver” in court-appointed cases and is considered one of only a handful of professionals in Arizona qualified to do this work. Sell’s credentials in this area will enhance the existing forensic accounting services already provided by REDW.

Sell says, “REDW has long been respected as one of the premier certified public accounting and business consulting firms in the Southwest and it is a privilege to join a team that offers the right combination of expertise, talent, resources, client focus and culture.”

Ed Street, REDW principal and head of its valuation, forensic and litigation practice, says that Sell brings, “a wealth of experience and business relationships in Arizona that will help broaden REDW’s service lines, to include such specialty areas as receiverships and conservatorships, so that we can continue to meet the complex, ever-evolving needs of our clients.”