Two Boston-Area Firms Combine

Kenneth Freed & Company of Boston acquired the practice of Philip R. Dardeno CPA of Reading, Mass. Dardeno will become a principal in the combined firm.

“He [Dardeno] is a well-known expert in the Boston area and beyond,” says Charles Hulbert Jr. owner and partner of Kenneth Freed & Company. “Joining forces is an excellent opportunity, and is mutually beneficial toward succession planning for both parties involved.”

Kenneth Freed & Company, founded in 1979, has practice specialties in individual business and trust taxation, advisory services, and third-party attestation, while Philip R. Dardeno’s firm brings a wide variety of clients, as well as niche specialties in tax audits, appeals, planning, and state and local tax issues.

The firms were introduced by consultant Ron Loberfeld who specializes in mergers and acquisitions for small and medium sized firms.

CPAmerica International Announces 2018 Board of Directors

CPAmerica International has announced its 2018 board of directors. The new board will have its first meeting of the year at CPAmerica’s office Jan. 18 to discuss 2018 initiatives and other long-term goals.

Brian Malthouse, president and shareholder of Ft. Wright, Ky.-based VonLehman CPA & Advisory Firm, is the new chair of the board.

“Our firm and our clients have very much benefitted from our association with CPAmerica over the past 30 years. The opportunity to share experiences, best practices and ideas has improved all of our firms, and I am thrilled to support our members with new and exciting initiatives to bring even more value to the association,” says Malthouse.

Sharon Thompson, managing shareholder and leading partner of Ft. Myers, Fla.-based Hughes Snell & Co. has been elected to the vice chair and chair-elect position.

The three newly-elected board members include James Barrett of Meyers Brothers Kalicka, Gregory Hammonds of Whaley Hammonds Tomasello Accountants & Advisors and Frank Monaco of 415 Group.

Brown Edwards Acquires Gibbons & Kawash

Roanoke, Va.-based Brown Edwards (FY17 net revenue of $37.5 million) acquired Gibbons & Kawash of Charleston, W.Va., effective Jan. 1, 2018.

“We have known the professionals of Gibbons & Kawash for a very long time,” says Jason Hartman, MP of Brown Edwards. “In fact, we were both part of the same national alliance and realized early on we had a lot of similar philosophies in our approach to client service and a shared emphasis on professional development. This is a great opportunity to bring together some of the best multi‐disciplinary professionals in our field and leverage their talents to its advantage of our clients.”

“While we are very proud of the history of Gibbons & Kawash, we also recognized that the next step for our team and clients was to merge with a firm of comparable quality that would enable us to expand services to our clients. We look forward to staying on the cutting edge of the changes so prevalent in today’s financial and accounting services markets, ” says managing director Valerie Ellis. “Brown Edwards shares our commitment to helping our clients grow and succeed, and the merger will broaden and deepen our existing industry specializations, allowing us to offer more comprehensive business advice tailored to our clients, while enabling us to focus more on our specialized niche areas as well.”

AAFCPAs Admits O’Reilly as Partner

Janice O’Reilly

Janice O’Reilly

Westborough, Mass.-based AAFCPAs (FY16 net revenue of $26.7 million) admitted Janice O’Reilly as partner in the consulting division and head of the managed accounting solutions (MAS) practice.

O’Reilly has more than 30 years of experience. She started her career in public accounting, as an audit manager at Deloitte, and transitioned to private accounting. She has experience in strategic and financial consulting services to privately-held and public companies in diverse industries, including: software, technical services, digital media and professional services.

O’Reilly will lead and deliver CFO-level consulting solutions, including advice on international expansion, foreign subsidiary establishment, growth strategy, IPO, secondary offerings, mergers and acquisitions, joint ventures, capital raising and investor relationships.

“Janice’s diverse finance and operational management experience makes her a great fit to spearhead our fast-growing MAS practice, and she is perfectly aligned with our culture, mission and core values,” says Matthew Boyle, partner. “She knows how to assess, build and execute the ideal accounting function and her charisma and collaborative approach make her an extremely valuable and exciting addition to our consulting team.”

Marcum Admits Clark Assurance Services Partner

Adam Clark

Adam Clark

New York-based Marcum LLP (FY16 net revenue of $449 million) admitted Adam Clark as a partner in the technical review and quality control group of the assurance services division. He will be based in the Melville, N.Y., office.

Clark is responsible for establishing, implementing and maintaining the assurance policies and procedures and compliance with regulatory guidelines. In addition, he provides guidance to firm professionals on technical accounting and auditing matters.

Clark has more than 20 years of experience in accounting, auditing, internal controls, root cause analysis and regulatory oversight. He has an in-depth knowledge of generally accepted accounting principles, SEC reporting, and PCAOB auditing and related professional practice standards. His extensive experience spans multiple industries and technical areas, including oil and gas, manufacturing, retail, software, revenue recognition and business combinations. He also has experience with foreign private issuers and IFRS.

The 2017 IPA Most Recommended Consultants

We are proud to announce the 2017 IPA Most Recommended Consultants, listed in alphabetical order, and their firms. The full list was highlighted in the October issue of INSIDE Public Accounting.

Each year INSIDE Public Accounting asks firms from across the nation in the IPA Annual Survey and Analysis of Firms to name one consultant, whom they have used during the past year.

Congratulations to this group and IPA thanks this group for their hard work and dedication to the profession.

Click on the consultants names to view their answers a few questions on the state of the accounting industry.

Accountants Advisory Group
Joseph Tarasco

Boomer Consulting Inc.
Gary Boomer

Carl George Advisory
Carl George

ConvergenceCoaching LLC
Jennifer Wilson

Crosley Company
Gale Crosley

Koltin Consulting Group
Allan Koltin

The Rosenberg Associates
Marc Rosenberg

Succession Institute
Bill Reeb

Upstream Academy
Sam Allred, Tim Bartz

Roman Kepczyk

Barfield Murphy Shank & Smith Acquires Hindsman

Birmingham, Ala.-based Barfield Murphy Shank & Smith (FY16 net revenue of $18.7 million) acquired Hindsman PC of Gadsden, Ala., effective Jan. 1, 2018.

Currently, Hindsman provides a broad range of accounting, tax, audit and advisory services to both businesses and individuals throughout northeast Alabama. These services also include an outsourced bookkeeping practice as well as payroll services. The firm works with clients in a variety of industries such as medical practices, manufacturing and construction.

“For many years, we have witnessed, admired and respected how BMSS has taken care of its people and its clients throughout the state,” says Scott Hindsman. “Their culture and primary mission closely mirror ours. The skill sets of both firms are complementary to one another. It just seemed to make sense to bring the two firms together.”

“This merger is significant for all of us,” says BMSS founding partner Don Murphy. “In Hindsman PC, we found people who, like us, could add real value at every stage of an organization’s life cycle with strengths that complement and extend our own. Beyond that, we feel that they’re a great fit with our people, our culture and our mission of delivering an exceptional client experience.”

EY Names Six to the EY Global Executive Leadership Team

New York-based EY (FY16 gross revenue of $11.2 billion) named six to the EY Global executive leadership team, effective July 1, 2018.

Kelly Grier has been appointed to the combined post of EY U.S. chairman and MP and EY Americas area MP. Grier is an audit partner at EY U.S. and was most recently regional MP for the U.S. Central region. In her 27-year tenure with EY, she served many of the largest and multinational EY clients.

Pat Winter has been appointed EY Asia-Pacific area MP. Winter, a partner at EY for 19 years, was previously EY Asia-Pacific deputy area MP. He has experience in transactions and corporate finance experience, due diligence and initial public offerings, growth initiatives and strategic acquisitions.

Jay Nibbe has been appointed EY Global Vice Chair – markets. He is responsible for leading the globally integrated, account focused go-to-market strategy and business planning across all EY service lines, sectors and geographic areas. As part of this, Nibbe will also lead EY global solutions, EY research teams, all alliance partnerships, business development, digital services and the global alumni program. In his most recent role as global vice chair – tax, Nibbe led the global tax service line.

As EY Global Vice Chair – talent, Trent Henry will actively recruit and develop talent, and meet growing demands for digital, specialist data and analytical skills across the global organization. Henry was most recently EY Canada regional MP. Henry, who has been at EY for 28 years, has experience in the tax business.

Alison Kay has been appointed chair of the EY Global accounts committee, in addition to her current role as EY Global Vice Chair – industry. In her EY Global accounts committee role, Kay is responsible for growth across EY top accounts. She will help develop innovative, sector-specific solutions.

Jessie Qin joins the EY Global executive leadership team in a three-year rotating role reserved for an early-stage member firm partner. Qin is a partner in the EY advisory service line based in Zurich and has 14 years of consulting experience across EY and other organizations.

“These appointments showcase our talented bench of diverse and highly skilled people at EY. Our new leaders will continue to build upon our strong foundation of shared values and purpose. They have demonstrated an ability to manage high-performing teams and deliver high-quality results.,” says Mark Weinberger, EY Global chairman and CEO

Cummings Keegan & Co. Admits New Partner

Melissa Carlson

Melissa Carlson

Melissa Carlson has been admitted to partner at Minneapolis-based Cummings Keegan & Co.

Carlson, who joined the firm in 1998, advises closely-held businesses, non-profits and individuals in various areas as tax planning, strategic consulting, audit and review of financial statements. She is a certified QuickBooks ProAdvisor and co-manager of the firm’s accounting services team.

“Throughout her career at CK&Co., Melissa has continually developed the intangible traits and leadership skills required for advancement. Her contributions will enhance the firm’s strategic initiatives related to client relations, employee engagement, and innovative growth strategies,” says Kathy Klang, MP.

CliftonLarsonAllen Acquires NSBN LLP

Minneapolis-based CliftonLarsonAllen (FY16 net revenue of $755.9 million) will acquire NSBN LLP (FY17 net revenue of $18.3 million) of Los Angeles, effective Jan. 1, 2018.

“A personal touch is what this business is all about,” says Ken Miles, NSBN MP. “Our clients trust us to guide significant and, often, personal decisions that affect their futures. CLA shares our belief that, in order to help someone, you have to first know them. That may sound simple, but, in practice, it shifts every interaction you have and uncovers meaningful opportunities to help.”

“My biggest reward is when I am able to give my clients information they didn’t have before,” says Dennis Ayers, NSBN partner. “Expanding our resources allows us to do more for our clients as they advance toward their unique goals.”

“For more than 60 years, clients have trusted NSBN to listen and act in their best interests,” says Larry Taylor, CLA chief practice officer, Southwest region. “We are committed to continue advancing that trust by listening closely to clients, in order to bring forward ideas that contribute to their success.”

Allan Koltin, CEO, Koltin Consulting Group, Inc., who advised both firms on the combination, comments, “NSBN saw the CLA platform as a great way to provide additional value added services to their clients and create a great growth opportunity for their people. NSBN is one of the most respected firms in Los Angeles with a wonderful tradition and culture and that is in large part what attracted CLA to them. CLA’s great leadership, innovation, and commitment to investing in talent, technology, and training have made them one of the firms that everyone wants to emulate.”