Category: News

In a recent article published by Atlanta Daily World, the Bennett Thrasher Foundation is highlighted for providing grant support to the READTeam program, a partnership between Malcolm Mitchell’s Share the Magic Foundation and the Andrew and Walter Young Family YMCA. The program aims to introduce Atlanta youth to the long-term benefits of being an active reader through an eight-month program involving 50 Atlanta Public School students in grades 2 through 6. Students will amass their own home library of 20 books by the end of the program. For the full article, please click here.

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To learn more about the BT Foundation, visit the BT Foundation webpage or read the FY18 Foundation Annual Report.

In an article published recently by Accounting Today, Bennett Thrasher is highlighted as a standout accounting firm for offering employees perks such as closing the office for the week between Christmas and New Year’s. Other prominent policies and best practices mentioned in the article included committing to remote work and giving staff more paid time off. To view the full article, please click here.

Learn More

For more information about working at Bennett Thrasher, visit their careers page or watch their new video.

DFK International/USA is proud to welcome Johnson Lambert LLP to our association! A niche-focused firm (Not for Profit, EBP and Insurance) with offices in Florida, Illinois, Georgia, New Jersey, North Carolina, South Carolina, Vermont and Virginia, Johnson Lambert adds an impressive wealth of knowledge and resources to DFK and we are excited to have them on board! DFK/USA now has 28 member firms in cities across the United States. 

Donald Logan Joins Friedman LLP as Chief Information Officer

— Expanding the Firm’s Robust IT Department

New York — December 20, 2018 — Top 50 accounting and advisory firm Friedman LLP announced today that Donald Logan has joined the firm’s headquarters as the Chief Information Officer (“CIO”). Don’s extensive background supporting the unique IT needs of the accounting profession will further enhance our already well-fortified IT structure as we continue to expand Friedman’s capabilities in this critical area.

Don brings more than 20 years of strategic IT experience in the professional services space. Prior to joining Friedman, he held several leadership roles at a number of accounting firms where he drove the analysis and re-engineering of existing business processes, identified and developed the capability to use new tools, reshaped the enterprise’s physical infrastructure and network access, and identified and exploited the enterprise’s knowledge resources.

In addition to helping ensure that systems and networks are leveraging industry best practices, Don will play an integral role at Friedman, keeping his finger on the pulse of technology trends in the marketplace. By staying one step ahead of the curve, he will help the firm navigate the continual technology changes through strategic IT planning.

“As both our firm and the needs of our clients expand, so must our approach to technology. Don brings a wealth of specialized experiences, having supported the unique needs of the tax and accounting space,” said Harriet Greenberg, Co-Managing Partner and leader of the Fashion and Diamond and Jewelry Practices at Friedman. “Beyond his clear understanding of the technology space, Don is a proven strategist with the necessary insight to keep Friedman at the forefront of innovation.”

“Don’s skillset speaks for itself. At Friedman, we strive to fill each seat with the best and the most exceptional individuals in the industry,” said Fred Berk, Friedman’s Co-Managing Partner and Co-Chair of the Real Estate Group. “There’s no doubt in my mind that Don will help further our current IT Department’s already robust offerings to deliver the continued strategic and multi-faceted support that are much-needed in an ever-changing landscape.”

“I’m excited to join an award-winning firm that’s recognized throughout the industry for its people-centric approach to client services and employee empowerment,” stated Don. “I look forward to demonstrating the power of looking globally at Friedman’s IT needs along with a strong understanding of the firm’s culture to best position its short- and long-term goals.”

To learn more about Don Logan, head here.

About Friedman LLP

Friedman LLP, headquartered in Manhattan with locations throughout New Jersey and in Long Island, Pennsylvania, and Beijing, China, has been serving the accounting, tax and business consulting needs of public and private companies since 1924. Our industry-focused practice features concentrated areas of expertise and an understanding of the economic environment. We are innovative in our approach, act quickly in our decision-making and are flexible in our delivery of services. Our clients benefit from hands-on contact with our partners, cutting-edge technical expertise and our understanding of their industry and their business. Our clients have the advantage of working with a mid-size accounting firm that combines the staff and resources of a large firm with a philosophy of personal responsibility for our clients. Visit our website at www.friedmanllp.com to learn more.

Friedman LLP Launches Qualified Opportunity Consulting Zone Practice, mapping future investments for the greatest tax advantages

New York — DATE— Top 50 accounting and advisory firm, Friedman LLP, expands its dynamic service offerings to include Qualified Opportunity Zone (“QOZ”) Consulting . The QOZ program, created under the 2017 Tax Cuts and Jobs Act (“TCJA”), is a tax incentivized investment initiative meant to spur economic growth in low-income communities while providing investors with additional capital to expand existing businesses, form new businesses, or fund real estate developments.

At the helm of this new practice group is Partner Steven Bokiess, CPA. He brings more than 20 years of experience advising prominent real estate organizations involved in a wide range of properties, as well as extensive expertise in the financial arena. He has tax consulting and compliance services to a variety of real estate and asset management clients, including REITs, real estate partnerships, private equity funds, hedge funds, investment advisors, broker/dealers and mutual funds.

“In response to growing questions surrounding this new, complex and long-term investment strategy, we strategically assembled leading tax experts to create the QOZ Consulting Practice. I am confident that this new team will guide our clients through the TCJA, address the unique challenges they face and help them leverage key tax incentives to maximize investments,” said Steve.

“With QOZs currently spanning 12% of the land area of the nation, there is a tremendous opportunity for individual, trust or corporate investors to reap significant tax advantages,” remarked Robert Charron, CPA, Partner and the firm’s Tax Practice Leader. “The expansion of our service offerings to include this new practice group further demonstrates our commitment to staying on the pulse of industry and policy changes to deliver excellent client services.”

“Friedman has stayed at the forefront of tax reform since before President Trump’s election. The QOZ Consulting Practice includes advisors with direct access to breaking news from Capitol Hill, sought-after thought leaders and members of the firm’s elite TCJA Task Force,” added Co-Managing Partner and Leader of the Real Estate Practice Group, Fred Berk. “This team of experts is well-equipped to help guide our clients through the nuances of this new tax opportunity.”

To learn more about our latest practice group, head here.

*****

About Friedman LLP

Friedman LLP, headquartered in Manhattan with locations throughout New Jersey and in Long Island, Pennsylvania, and Beijing, has been serving the accounting, tax and business consulting needs of public and private companies since 1924. Our industry-focused practice features concentrated areas of expertise and an understanding of the economic environment. We are innovative in our approach, act quickly in our decision-making and are flexible in our delivery of services. Our clients benefit from hands-on contact with our partners, cutting-edge technical expertise and our understanding of their industry and their business. Our clients have the advantage of working with a mid-size accounting firm that combines the staff and resources of a large firm with a philosophy of personal responsibility for our clients. Visit www.friedmanllp.com to learn more.

Shaji Varghese, CPA, Partner and Brandon Baker, CPA, Principal

Join Friedman LLP’s Philadelphia Office — Expanding the Firm’s Robust Client Offerings

New York — December 11, 2018 — Top 50 accounting and advisory firm Friedman LLP announced today that Shaji Varghese, CPA, Partner, and Brandon Baker, CPA, Principal, have joined the firm’s Philadelphia office, bringing with them a wealth of cross-industry expertise.

Shaji Varghese is an Audit Partner at Friedman LLP, bringing over 25 years of experience managing audit engagements for clients from start-ups to multibillion dollar organizations. Prior to joining Friedman, Shaji dedicated the majority of the past 14 years as a partner in a large internationally registered accounting firm focused in auditing public and private companies. He has extensive experience supporting clients across industries including life sciences, biotech, real estate, software and technology, financial services and manufacturing. Importantly, he provides his clients with personalized partner-level involvement with a commitment to maintaining ongoing communications to ensure projects are completed in a timely and cost-efficient manner.

Brandon Baker is a Tax Principal at Friedman LLP, with more than 15 years of experience working with private clients to ensure their multi-generational wealth. His highly personalized and industry-specific approach has fostered close client relationships created by guiding them through federal and state income tax challenges arising from closely held business interests, their inherited wealth and transfer tax matters. Brandon spent six years in the private wealth practice of a big 4 accounting firm where he managed individual, partnership, estate, gift and fiduciary tax compliance work. He also spent several years in the multi-family office space, working with families to design wealth transfer strategies and administer trusts and family limited partnerships.

“As part of our commitment to delivering excellence in client services, we strategically select industry experts who bring powerful insights to our clients. Shaji and Brandon have in-depth industry knowledge and value a hands-on and personalized approach when it comes to individualized client attention,” said Harriet Greenberg, Co-Managing Partner and leader of the Fashion and Diamond and Jewelry Practices at Friedman.

“What drew me most to Friedman is the firm’s highly personal approach to client services. While many mistake tax and audit as purely numbers-based, it’s much more about human interest and strategizing the best options available based on an individual’s unique needs. I look forward to contributing my diverse public accounting experience to the Friedman family,” said Shaji.

“We are always looking to expand the firm with the brightest in the industry,” said Fred Berk, Friedman’s Co-Managing Partner and Co-Chair of the Real Estate Group. “These gentlemen bring impressive backgrounds with an emphasis in the Technology, Real Estate and Private Client sectors that will greatly benefit our clients.”

“I look forward to bringing my years of specialized experience supporting private clients to Friedman and being part of its award-winning culture that is so widely recognized,” said Brandon.

To learn more about the newest additions to Friedman LLP’s senior management, see below:

• Shaji Varghese, CPA, Partner, click here
• Brandon Baker, CPA Tax Principal, click here

About Friedman LLP

Friedman LLP, headquartered in Manhattan with locations throughout New Jersey and in Long Island, Pennsylvania, and Beijing, China, has been serving the accounting, tax and business consulting needs of public and private companies since 1924. Our industry-focused practice features concentrated areas of expertise and an understanding of the economic environment. We are innovative in our approach, act quickly in our decision-making and are flexible in our delivery of services. Our clients benefit from hands-on contact with our partners, cutting-edge technical expertise and our understanding of their industry and their business. Our clients have the advantage of working with a mid-size accounting firm that combines the staff and resources of a large firm with a philosophy of personal responsibility for our clients. Visit our website at www.friedmanllp.com to learn more.

Three firms have joined DFK USA, taking the national group’s membership to 27 and reflecting a year of growth for DFK International.

The new members are Lauterbach & Amen LLP, Reynolds + Rowella and Ridout Barrett.

Lauterbach & Amen LLP is a mid-sized public accounting firm established in 1997 in Napervillle, a western suburb of Chicago in Illinois, by partners Sherry Lauterbach and Ron Amen.

The firm’s foundation is in the governmental sector and over the years, it has extended client relationships to other entities outside of government, providing accounting, compilation, assurance, actuary and consulting services.

Reynolds + Rowella is a regional accounting firm with offices in Ridgefield and New Canaan in Connecticut.  It was founded in 1985 as a result of the merger of the CPA practices of Tom Reynolds and Frank Rowella.

The firm provides consulting, tax and assurance services and acts for businesses across all industries.

Ridout Barrett has been serving the San Antonio area in Texas since 1986 and has offices in San Antonio and Austin.

It provides professional accounting, tax and business advisory services to businesses of all sizes and across a range of sectors.

Harriet Greenberg, president of DFK USA and deputy president of DFK International, has welcomed the addition of the firms.

She said: “2018 has been a time of growth for DFK International.  The addition of Ridout Barrett and Reynolds + Rowella provide an additional tax-centric layer to the community, while Lauterbach & Amen bring a targeted audit-based view with a specialised focus in government auditing.

“The location and practice of the new member firms provide another dimension when it comes to location and practice expertise.  Part of the beauty of DFK USA is the cross-collaboration, unique perspectives and exchange of ideas that come with the addition of innovative firms.”

As deputy president of DFK International, Harriet’s vision is to grow membership both in the US and internationally, and she hopes this latest recruitment will act as a springboard for attracting more firms to DFK USA.

“We are doing some really amazing things in DFK USA in collaboration with DFK International.  As we continue to execute our powerful initiatives, I’m confident that our members will grow across the nation in major cities,” she said.

“Talent attracts talent and membership will increase with the understanding that our unique and innovative community only gets better with the addition of leading firms.

“In addition, key people in the organisation, including our US Executive Director Maureen Dillmore, the DFK Executive Committee and our group of independent accounting firm consultants, actively reach out and meet with independent accounting firms who could potentially join and add value to DFK USA.”

San Francisco, CA – Shea Labagh Dobberstein (SLD), a leading CPA firm in the Bay Area, expanded its tax practice in the Bay Area on November 1^st, by merging in A. L. Nella, a long-time San Francisco-based tax firm. The news follows the successful SLD merger of Engelman Accountancy Corporation earlier this year.

With the two mergers, along with organic growth, SLD continues to expand its Bay Area CPA practice. A. L. Nella’s employees will move to SLD’s 44 Montgomery Street location.

Joining forces with Shea Labagh Dobberstein will give A. L. Nella’s clients a greater platform of resources, access to broader expertise, and development opportunities for their staff. “The synergy between the two firms is great. We are very pleased to have A. L. Nella join our team and we welcome the A. L. Nella clients to our firm,” said SLD’s Managing Principal, James R. Dobberstein. “We add highly accomplished members to our leadership team and a talented team of associates. Both our existing clients and A. L. Nella’s legacy clients will see the enhanced benefits of having the combined team.”

About Shea Labagh Dobberstein
For over 70 years, SHEA LABAGH DOBBERSTEIN has provided a full spectrum of professional accounting, auditing, tax and consulting services exclusively to privately-held businesses, individuals, and non-profit organizations. The business community recognizes us for having the deep expertise and specialized resources of a national firm, coupled with the personalized attention of a San Francisco-based advisor.

After full consideration by the DFK and AGN International Boards of Directors, a ground-breaking strategic alliance has been formed between two top-ten international associations of independent accounting, tax and business advisory firms.  This will be announced to the media in a Press Release this week and is therefore under embargo until 10:00 UK time on Monday, January 8, 2018.  This means that you can share it internally within your group/firm, but it should not be shared externally before then.

DFK International and AGN International have launched Global Connect as a new collaboration to give each other increased depth of resource and coverage to enhance client service.

DFK and AGN will continue as independent associations with no intention to merge and have established the link to ensure they are best placed to meet the international business needs of clients of their members.

DFK International has 214 member firms in over 400 offices in more than 90 countries.  AGN International is represented in 89 countries with 200 member firms and 478 offices.  Both associations have their global headquarters in London, UK.

We are delighted to establish this strategic alliance which we believe to be the first of its kind between two international associations of independent accounting, tax and business advisory firms. DFK and AGN will continue as fully autonomous organisations and this collaboration will ensure we both remain strong and competitive in a changing market, and above all are effective in delivering the best possible service to clients of our respective members. We believe it will strengthen our global coverage and penetration of various industry sectors and specialisms by extending our access to geographic and specialist areas that occasionally may not be covered by our own respective memberships.

DFK and AGN are both substantial global associations in their own right and will remain genuinely independent.  Global Connect will enable us to exploit strategic opportunities to collaborate for the benefit of our members and their clients. The backbone of this collaboration is high technical standards and great customer service, where DFK and AGN already have similar approaches.  We also share a good deal of symmetry with similar types of members and cultural outlooks.

In due course we expect to take advantage of opportunities to share and develop jointly valuable member services such as technical training and business development programmes.

In time, it is our intention to consider the careful expansion of Global Connect membership to other organisations that share our outlook and priorities, possibly in other professional disciplines such as the law, technology and human capital.

We have developed the following responses to Frequently Asked Questions (FAQs), which you might find useful in explaining to your partners, staff, clients and local media what Global Connect is all about:

Global Connect – Frequently asked questions

DFK International and AGN International have agreed to enter an alliance aimed at providing outstanding service to clients with international business needs.  The groups will remain separate entities with their own membership, but will share access to the following:

• technical resources and expertise
• training, education and leadership development programmes and other conferences
• each other’s global firm members technical expertise and resources to service the needs of clients

The following gives answers to some questions that you may have about this alliance.  If you need more information or have questions not addressed below, please contact your DFK Regional or National Group Executive Officer or the London Executive Office, and we will make sure you get the information you want.

WHAT IS GOING ON AND WHY?

Is this a merger?

No.  Both AGN and DFK will continue as fully autonomous organisations. Whilst we will look for areas of cooperation and synergy, there are no plans to merge the organisations. We believe that we can strengthen each other in various ways, without combining our interests and still preserving the separate nature and character of our organisations, which our members value. 

Why are you doing this?

To ensure that both organisations remain strong and competitive in a changing market, and above all are as effective as possible in delivering the best possible international solutions to the clients of our respective members.

What benefit is this to DFK members?

We believe it will strengthen both our global coverage and our penetration of various industry sectors and specialisms, to support the best possible solutions for members’ clients.  Thus, we will have access to AGN members in areas where DFK does not have coverage, or to AGN members with specialisms that DFK members may not have.

We also believe that in the medium term it will be possible to achieve organisational synergies and efficiencies.

Will Global Connect have other members in the future?

It is anticipated that DFK and AGN will operate Global Connect for at several months before considering other memberships.  However, it is likely that Global Connect membership might expand in the future, subject to the approval of both Boards. It is possible that future Global Connect membership might be with non-accounting organisations, such as legal networks.

MEMBER PROGRAMS & RELATIONSHIPS WITH DFK MEMBERS

Will we contact AGN members locally, and if so how?

There is nothing to stop you making local contact if you wish, but it is expected that contact with DFK will usually be introduced via the DFK International Executive Office.

Who do we contact at DFK to ask for advice concerning AGN members?

Please contact your DFK regional or National Group Executive Officer in the usual way, or the DFK Executive Office in London if you prefer.

Will AGN have access to DFK Members Site?

Not initially.  The programs of both organisations will continue as before, being available to the members of that organisation only.  It may be that joint member initiatives could be developed in the future, but only if the Boards of both organisations decided that there was benefit to their members.

What happens if I don’t get on with the AGN member locally or I have concerns about them?

Both organisations are similar in outlook, and we sincerely doubt that this should be a significant issue.  However, you should contact your DFK regional or National Group Executive Officer to make known and discuss any concerns you may have.  There is no compulsion for you to contact or have a relationship with your local AGN member if you prefer not to.

WEBSITE & MEMBERS DIRECTORIES

Will we have access to AGN website members’ area?

No. DFK members will have access to the AGN public website only.

Will we be combining member directors?

No.  Each organisation will continue to have member directories as at present.  Other than what is already in the public domain, information will be shared at a head office levels only.

CLIENT REFERRALS

How will client work referrals be dealt with?

In most cases, nothing will change. Both organisations require that work is preferentially referred within its own membership. Global Connect is intended to address situations where DFK does not have a member or situations requiring a specially skill or sector in which the DFK member does not have capability.  In such cases, you should contact your DFK Regional or National Group Executive Officer or London Executive Office for further guidance.

Will DFK still favour their members in a given location or will the referral go to a member who responds to the email sooner?

As noted above, in most cases members of both DFK and AGN will continue to refer work to fellow members of their own association, exactly as at present.

If we need to make a referral that cannot be covered by DFK, can we contact DFK members directly?

We ask you please to contact your DFK Regional or National Group Executive Officer or DFK London Executive Office, so that we can ensure that any matters are connected appropriately. However, the is no prohibition on direct contact if you know the people or prefer this approach.

Will I be held responsible if I refer work to AGN and it goes wrong for my client?

The situation will be exactly as for referring to a fellow DFK member.   It will depend on engagement terms, but it is likely that the firm performing the work will be responsible for its delivery.

DUES/FEES & COSTS

Will this affect our membership dues/fees?

No. There are no plans for either organisation to change its dues/fees structure because of this initiative.

What will be the cost of running Global Connect?

The costs will be minimal as Global Connect will not employ its own staff or acquire its own facilities. A small investment in an expertise database will be expected, but for the most part it is likely that the assets of one of its member associations can be employed.

OTHER MATTERS

Will DFK staff work for AGN too?

In the short term, it is unlikely that DFK and AGN will share staff, and things will continue as at present.  However, efficiencies and synergies will be investigated for the future.

Are AGN members monitored to ensure high standards as in DFK?

DFK and AGN have similar approaches to ensuring and maintaining high standards of membership.  Both organisations require a pre-admission review, both monitor annually the continued good standing and “fit and proper” status of members, and both follow up on any instances of non-compliance or poor client service.

Will you be sharing members confidential information held by DFK?

No. Any data shared will be that which is publicly available from our websites, or otherwise will be specifically given by members for the purposes of such sharing, which will be made clear at the time.

What is the legal structure of Global Connect?

It will be a UK corporation limited by guarantee, operating on a not-for-profit basis.  Members will be Global Connect’s participating associations, who will give a guarantee of £1.

Will Global Connect be publicly promoted and, for example, have a website or its own logo?

Global Connect will have its own logo, but its promotion will be “low key” and any website will be basic. Certainly, the promotion of the DFK and AGN brands will be a clear priority.  It is anticipated that Global Connect might be referenced where members are using its capabilities in a client service situation.  A protocol will be developed for this to ensure that Global Connect is correctly described in such cases and risk management is appropriate.

I have other questions – how do I get more information?

If you need more information or have questions not addressed below, please contact your DFK Regional or National Group Executive Officer or London Executive Office, and we will make sure you get the information you want.

Kind regards,

Martin

Martin Sharp

Executive Director| DFK International

Suite 120/121, Temple Chambers, 3-7 Temple Avenue,

London EC4Y 0HP, United Kingdom

Tel: +44(0) 20 7436 6722| Mob/Cell: +44 (0) 7554 015737

Email: msharp@dfk.com | web: www.dfk.com