Janover LLC Launches Cannabis Industry Practice Group

Marsha P. Ellowitz

Garden City, N.Y.-based Janover LLC (FY17 net revenue of $30 million) announces that it has launched its cannabis industry practice group, headed by Marsha Ellowitz and Jason Hoffman, who have focused on this industry for over five years.

Janover works closely with their clients in the cannabis industry to properly structure business entities so that legal and tax advantages are optimized. The firm offers these clients a broad spectrum of traditional services, as well as, IRC Section 280E compliance and business valuation, which are critical for clients in the cannabis industry.

“We listened to our clients’ needs in the cannabis industry and determined that it was imperative to expand our offerings,” notes Mark Goodman, Janover’s MP.  “Our cannabis industry practice group builds value for our current clients, and will attract new clients within this evolving field.”

Berdon Names New CIO, Launches Berdon Technology Services and Digital Asset Advisory Practice

Clifford Forrester

Clifford Forrester

New York-based Berdon (FY17 net revenue of $121.1 million) has named Clifford Forrester as its CIO after serving as head of IT for a global law firm and the global IT and security manager for a top 100 law firm. The addition of Forrester is coupled with the firm’s formal launch of Berdon Technology Services and Digital Asset Advisory Practice.

“These key investments are the direct reflection of our commitment to offer more innovative and efficient solutions to our current and future clients in a context of unprecedented technological advancements that continue to change the face of business in all industries,” says MP Mark Bosswick.

Berdon Technology Services (BTS) advises businesses on a variety of IT-related matters, including cybersecurity custom programming, mobile application development, infrastructure build-outs, and more. In addition, it offers a host of IT support services, such as outsourced CTO and/or CIO, help desk services, disaster recovery and cloud computing, among other areas.

“As a business leader, I know first-hand how critical it is for organizations to have a solid and secure IT foundation,” says Bosswick. “BTS nicely complements our current array of client service offerings and further enhances our ability to help businesses achieve their strategic objectives.”

Berdon’s Digital Asset Advisory Practice, which is led by Evan Fox, focuses on providing tax and consulting services in the still-evolving cryptocurrency/digital asset arena, helping Berdon clients navigate the complex and often unsettled tax, accounting and technical aspects of digital assets.

“The addition of these new service lines allows us to grow with the continuously evolving needs of our clients by helping them plan for future changes and achieve their short and long-term objectives,” says COO Rebecca Goodman-Stephens.

EisnerAmper Launches Process, Risk and Technology Solutions

From compliance to technology to operational risk, company leadership is constantly identifying challenges in assessing, preventing and mitigating the evolving threats that confront their companies daily. That’s why New York-based EisnerAmper (FY18 net revenue of $360.7 million) has launched a suite of process, risk and technology solutions to connect a company’s operational, financial and technological departments.

EisnerAmper professionals offer the following services:

  • Internal audit and regulatory compliance – Increase the efficiency of active programs, modernize internal audit processes and procedures, and perform risk assessments to identify internal control gaps.
  • IT risk and cybersecurity – Methodically examine technology, operations, services, goals and objectives. Offer pragmatic solutions and an action plan to control risks surrounding security and privacy, financial processes and reporting, and business processes and compliance.
  • Digital solutions and process transformation – Assess current processes and identify technology integration opportunities including artificial intelligence, robotics process automation, service with software and other emerging technologies.

“Our process, risk and technology solutions professionals are far more than IT advisors,” says national practice leader Jerry Ravi. These industry experts will take a 360-degree view of a client’s risk-exposure points and provide a detailed roadmap to help them fortify and enhance their business and performance outcomes.”

Xero Acquires Hubdoc

Cloud accounting software maker Xero has announced that it has acquired Hubdoc.

“This means we’ll be able to accelerate delivering Xero’s vision for code-free accounting. We want to help accountants and bookkeepers focus their efforts on making sense of a small business’ financial data – not collecting it,” Xero announced.

Hubdoc is used to streamline administrative tasks such as financial document collection and data entry. Xero says the benefits to the combination are streamlined data capture, real-time financial data and organized and verified data.

The Hubdoc team will continue to operate on a stand-alone basis until the products are integrated. “Over the longer term, customers can expect to see a deeper, more powerful integration between the Xero and Hubdoc platforms. While we’re excited about this integration, it’s also important to note that Xero will always be an open ecosystem. That means that customers have the choice to use the apps that best meet their individual needs,” Xero says in a release.

Bennett Thrasher Adds Business Transformation Services Practice

John Yeager

John Yeager

Atlanta-based Bennett Thrasher LLP (FY18 net revenue of $55.6 million) has announced the creation of a new business transformation services practice.

The new service offering will provide outsourced financial operations to business owners, implementing best practice techniques at the intersection of software and accounting. John Yeager will lead the new practice.

“Through the new business transformation services group, Bennett Thrasher’s clients will have access to real-time financial reporting and metrics that enable them to plan and forecast for their business in ways they have not been able to previously,” says Jeffrey Eischeid, MP of Bennett Thrasher. “John brings a depth of experience in both accounting and technological applications. This applied expertise provides clients with on-demand access to critical data and with making quicker, well-informed business decisions.”

“Bennett Thrasher’s business transformation services will help clients leverage real-time information and provide greater visibility into their business performance,” says Yeager. “Our consultative services and technology deliver multi-dimensional reporting on a very granular basis that will help guide strategic business decisions and poise our clients for future growth.”

Prior to joining the firm, Yeager was managing director at Seven Bridges Group, where he helped CPA firms realize the potential of the outsourced accounting practice area through a combination of business transformation services, platform and application management expertise, and sales and marketing support. He previously served as VP of sales and marketing at Windham Brannon, where he led the company’s growth and innovation initiatives, including the virtual accounting solutions practice.

Marcum Search Launches Executive Compensation Division

Marcum Search LLC, the executive recruiting and temporary staffing affiliate of accounting and advisory firm New York-based Marcum LLP (FY17 net revenue of $469.5 million), launched a new division dedicated to executive compensation services for businesses and nonprofit organizations. The division will be led by industry veteran Bruce Overton, who joins the firm as VP.

“Our new Executive Compensation Division is an extension of our core search practice. Our focus is on helping clients manage a fundamental aspect of their human capital operation to ensure it is on target with their business goals and optimizes performance productivity,” says Richard Paris, president of Marcum Search.

“Our strength is in assisting clients with total reward strategies that deliver on their business plan. We cover all of the essential compensation considerations pertaining to the C-suite and the executive Board,” says Overton.

Services include the core areas of establishing the right levels of base and incentive compensation, outside director compensation, executive compensation, Board Compensation Committee advisory services, performance management and the development of total reward strategies.

EisnerAmper Forms Real Estate Private Equity Group

New York-based EisnerAmper LLP (FY18 net revenue of $360.7 million) announced that it has formed a real estate private equity group.

Based in EisnerAmper’s New York office, partner Lisa Knee will be the national leader of the real estate private equity group. Assisting Knee will be partner Todd Hankin, who will lead the West Coast real estate private equity practice from the firm’s San Francisco office; and partner Maureen Blair, based in the New York office, who will lead the East Coast real estate private equity practice.

Combining the deep expertise of our financial services and real estate industry groups, this new group will be responsible for the delivery of private equity real estate services to clients as well as initiatives to maximize growth in this emerging sector.

Peterson Sullivan Launches Three New Consulting Practices

Peterson Sullivan (FY17 net revenue of $31.9 million) of Seattle, announced the launch of three new consulting practices: IT risk services, led by Cody Page; managed accounting services, led by Nick Norton; and strategic business consulting services, led by Andrew Mitchell.

“I am so pleased to announce the launch of these three new practices,” says Chris Russell, MP for Peterson Sullivan. “The professional accounting industry is experiencing rapid change and major disruption. These services further diversify our consulting offerings outside of traditional compliance. Our clients’ needs drove our professionals to build these specific practices and we are proud to have a culture of flexibility and adaptability in innovating new services to meet their evolving requirements.”
The IT risk services team will lead with the mindset of it’s not if, but when, a breach occurs.

Cybersecurity is a service that transcends industry lines,” says Page, practice lead and former COO. “We focus on preventative measures organizations in every industry can take to help mitigate their risk by providing SOC reports and cybersecurity controls assessments, and we provide general consulting on what to do when a data breach occurs.” Prior to joining the firm as COO, Page worked for Point B, where he led engagement teams in business process outsourcing, cloud technology, and security.

Although an easily overlooked part of the day-to-day functions, managed accounting services (MAS) practice lead Norton believes that by using technology, outsourced bookkeeping services can save a company time and money. “MAS’ streamlined accounting processes modernize the traditional role of bookkeepers, accountants and CFOs,” says Norton. “By providing a suite of services to best meet a company’s needs, we are allowing organizations to focus on what they do best.”

For strategic business consulting services (SBCS) practice lead Mitchell, the launch of this new service line is a long time coming. “I feel so passionately about being able to offer these services for companies because they provide valuable information for sustainable growth,” he said. “Via our tools, reports and processes, business owners are proactively leveraging this data to make impactful changes in their companies. It’s so rewarding to be able to outline the exact steps they need to take to make their company more efficient and successful.”

SBCS will offer a variety of services, including mergers and acquisitions, strategic planning, benchmarking, targeted consulting, financial due diligence and financial modeling and analysis. “The success we have already seen from the launch of these services has surpassed our expectations and has also emphasized how great a need there was for them,” says Russell. “I look forward to the continued expansion of the firm with these and other new service lines. 2018 has been a very exciting year so far.”

WithumSmith+Brown Announces Formation of Digital Currency and Blockchain Technology Services Group

Princeton, N.J.-based WithumSmith+Brown PC (FY18 net revenue of $207.6 million) has announced the formation of a digital currency and blockchain technology services group to address the unique challenges posed by digital assets, cryptocurrencies and blockchain technology. As an extension of the firm’s technology services group, the team provides a deep level of expertise to a diverse client base involved with and entering into today’s new alternative asset class.

“Blockchain technology and the rising use and influence of digital assets/tokens are not a passing trend, they are becoming part of the fabric of our technology community and the possibilities of their impact and disruptions across all industries are unlimited. We are embarking into a new era that can permanently and dramatically change how we do business,” says Chris DeMayo, partner and team leader of the new group. “Cryptocurrencies and blockchain technology pose highly unique challenges, from technology to accounting and regulatory issues – all of which our experienced, forward-thinking team is uniquely prepared to address on a client-by-client, industry-by-industry basis.”

Led by DeMayo, the digital currency and blockchain technology services group is made up of a team of 12 experts including thought-leaders Deep Gujral, principal; Carl Scheuten, partner; Joe Murray, manager; and Ryan Babiak, partner among others. The firm also is a member of, or accredited by, several prominent industry groups including the Accounting Blockchain Coalition, established to foster best practices in navigating accounting issues related to digital assets, and the Wall Street Blockchain Alliance.

Armanino Strengthens Cybersecurity with Launch of Risk Assurance and Advisory Services

San Ramon, Calif.-based Armanino LLP (FY17 net revenue of $242.7 million) announced it has launched a combined risk assurance and advisory services practice to enhance its ability to offer a wide range of risk and compliance solutions to clients. The move brings an innovative approach to compliance with a holistic approach to compliance requirements, increased automation, real-time reporting and deep cybersecurity expertise.

The new service will combine traditional risk assurance services such as SOC 1/2/3 audit compliance, ISO 27001, internal audit, SOX 404 and HITRUST certification with a strategic advisory capability that includes critical needs such as business continuity, cybersecurity and privacy services, and enterprise risk management.

“The new risk assurance and advisory practice is an integration of several risk-centric solutions that enables us to provide our clients with a more efficient and effective approach to managing their key risks,” says Liam Collins, PIC of risk assurance and advisory services. “This combination strengthens the firm’s ability to strategically engage with each client and provide a custom-tailored risk assurance plan that will protect their organization.”

Joining the practice is managing director Todd Bishop, who brings nearly two decades of experience in compliance, internal audit and IT assurance. Prior to joining Armanino, he led Gap Inc.’s SOX 404 financial program, was chief audit executive at Dolby Laboratories and spent over a decade at PwC.