Clifton Gunderson LLP News

The money, honey - DC's top CPAs answer your most pressing accounting questions

Wed, 01 Feb 2012 06:00:00 GMT

The money, honey - DC's top CPAs answer your most pressing accounting questions

CliftonLarsonAllen Names Seven New Partners

Mon, 30 Jan 2012 06:00:00 GMT

MILWAUKEE (January 30, 2012)- Kris McMasters, chief executive officer of CliftonLarsonAllen, today announced the approval of seven new partners for admission to the firm.

Travis Chamberlain has been named partner in the firm's Indianapolis office. He has more than 10 years experience in providing valuation, forensic accounting and financial modeling services to a variety of publicly-traded and privately-held companies. Chamberlain has performed valuations of businesses, intangible assets, derivatives, and various other instruments, including securities in complex capital structures. He performs valuation projects for numerous purposes, including financial reporting, tax, merger and acquisitions, private equity investment, initial public offering readiness and capital budgeting. Chamberlain is a graduate of Ball State University with a degree in accounting. He is an Accredited Senior Appraiser (ASA) by the American Society of Appraisers, a licensed Certified Public Accountant (CPA) and is Accredited in Business Valuation (ABV) and Certified in Financial Forensics (CFF) by the American Institute of Certified Public Accountants (AICPA). He currently serves as a member of the AICPA Forensic and Valuation Services Executive Committee, the senior technical committee of the AICPA that is authorized to promulgate professional standards with respect to valuation matters. He is Chair of the Emerging Issues Task Force and serves as a member of the Standards Task Force. Chamberlain also serves on the AICPA's Equity Securities taskforce responsible for rewriting the AICPA Practice Aid Valuation of Privately-Held-Company Equity Securities Issued as Compensation. He is past member of the AICPA Business Valuation Committee.

Qasim Collidge has been named partner in the firm's Baltimore office. He has more than 25 years of public accounting experience and specializes in planning and managing audit engagements, providing acquisition accounting consulting, due diligence, and purchase price accounting assistance for commercial middle market companies in the manufacturing, distribution, service, and technology industries. Collidge also has extensive experience with providing guidance and accounting assistance with internal control systems development. Collidge received his bachelor's degree in accounting from Albright College and is a member of the AICPA and the Maryland Association of Certified Public Accountants. In 2009, SmartCEO magazine recognized him as one of the region's top 25 certified public accountants.

Randie Dial has been named partner in the firm's Indianapolis office. He has spent the last 14 years focusing on business valuation engagements, especially on valuations for financial reporting. Dial also has experience in performing valuations for estate/gift tax purposes, ESOPs, and marital dissolutions. He received his bachelor's degree in accounting from Ball State University. Dial is a CPA and is Accredited in Business Valuation (ABV) by the AICPA. He has also attained the ASA designation from the American Society of Appraisers and is Certified in Machinery and Equipment Appraisal (CMEA) by the NEBB Institute. Dial continues to serve the accounting profession by being involved in the AICPA's Business Valuation Committee and its national conference planning committees.

Jennifer Hammond has been named partner in the firm's Washington, D.C. office. She has more than 13 years of Big 4 forensic accounting experience specializing in reactive confidential investigations and proactive risk management assessments. Hammond is responsible for leading accounting investigations related to fraud, waste and abuse in public and private companies, nonprofit organizations and governmental agencies. She also has extensive international experience conducting investigations and enhancing compliance programs related to general fraud, bribery and corruption, money laundering and other regulatory requirements for organizations. Hammond received her bachelor's degree from the University of Baltimore and her master's from the University of Baltimore - School of Business. She graduated cum laude from the University of Baltimore -School of Law. She is a member of various Bar Associations, including the Maryland State Bar Association and the American Bar Association. She is also a member of the Society of Corporate Ethics & Compliance and an associate member of the Association of Certified Fraud Examiners.

Elliott Leary has been named partner in the firm's Washington, D.C. office. He has more than 30 years of experience conducting high profile investigations as a special agent with the FBI and as the KPMG partner-in-charge of the Washington, D.C. forensic practice. Leary performs fraud and misconduct investigations and risk assessments for leading national and multi-national corporations as well as for public and nonprofit entities. He has assisted clients in the prevention and deterrence of fraud through the evaluation, development and implementation of anti-fraud programs and controls. Leary has served as the chairman of the AICPA's Fraud Advisory Group, on the Litigation and Dispute Resolution Subcommittee and the AICPA Anti-Fraud Coordinating Committee. He has lectured to private organizations and law enforcement agencies throughout the U.S. and internationally and has been honored with numerous awards and citations.

Jamey Rappis has been named partner in the firm's Milwaukee office. Rappis joined the firm in 2007 and is a leader in CliftonLarsonAllen's Private Tax consulting practice. He has extensive experience in the areas of estate & gift tax, estate & business succession planning, and retirement planning. Rappis leads the Private Tax consulting practice leveraging his tax and estate planning expertise across the firm to high net worth families and individuals. He is the firm's lead in reviewing and monitoring legislative, regulatory, and case law activity and is responsible for providing a national tax presence on high level tax consulting with new prospects and current clients in the areas of estate planning and business succession planning. With more than 17 years of experience, Rappis is a licensed attorney and has an extensive background with a specific emphasis on IRS controversies, including field, appellate and tax court audit levels. Rappis received his bachelor's degree from Notre Dame and his Juris Doctor in law from Marquette University. He is a member of the Waukesha County Estate Planning Council, the Wisconsin State Bar, and the United State Tax Court.

Tim Reynolds has been named partner in the firms St. Joseph, Mo. office. He has more than 18 years of private industry and public accounting experience. He specializes in tax services for corporations, partnerships and high net-worth individuals with an emphasis on businesses in the manufacturing and wholesale distribution industries. Reynolds also has extensive experience with Federal and State income tax compliance, income tax accounting/provision services and uncertain tax positions. Reynolds received his bachelor's degree in accounting from the University of Toledo and is a CPA. He is a member of the AICPA and the Missouri Society of CPAs.

About CliftonLarsonAllen
Clifton Gunderson and LarsonAllen are now CliftonLarsonAllen - one of the nation's top 10 certified public accounting and consulting firms. Structured to provide clients with highly specialized industry insight, the firm delivers assurance, tax and advisory capabilities. CliftonLarsonAllen offers unprecedented emphasis on serving privately held businesses and their owners, as well as nonprofits and governmental entities. The firm has a staff of more than 3,600 professionals, operating from more than 90 offices across the country. For more information about CliftonLarsonAllen, visit www.cliftonlarsonallen.com.

Clifton Gunderson Identifies Top 10 Tax Benefits for Businesses to Consider Before 2011 Ends

Wed, 07 Dec 2011 06:00:00 GMT

Media Contact:
Sada Kempf, Senior PR Associate
(920) 232-2230
mailto:sada.kempf@cliftoncpa.com

MILWAUKEE, Wis. - (December 7, 2011) - With a presidential election looming in the fall of 2012, it's anyone's guess where taxes will be heading in the coming year. But that doesn't mean business owners are not without options or opportunities at the end of 2011. Clifton Gunderson leaders have identified the following top 10 tax benefits for businesses to consider before 2011 ends.

100 Percent Bonus Depreciation: Qualified investments in new equipment and tangible property before Jan. 1, 2012, may be eligible for temporary 100 percent bonus depreciation. For qualified property placed in service in 2012, 50 percent bonus depreciation is scheduled to return for 2012. Unlike Section 179 expensing (see below), bonus depreciation is not capped at a certain dollar level.
Section 179 Expensing: The Small Business Jobs Act of 2010 set Section 179 expensing limits at $500,000 and investment limits at $2 million for 2010 and 2011. The Tax Relief and Job Creation Act of 2010 holds the expense limit at $139,000 and the investment limit at $560,000 for 2012, so it's important to take full advantage of the higher limits before Dec. 31, 2011.
Real Property Expensing: For tax years beginning in 2010 and 2011, up to $250,000 of qualified real property can be treated as Section 179 property. Normally, only tangible personal property qualified, but under new, temporary rules, real property such as qualified leasehold improvement property, qualified restaurant property and qualified retail improvement property, all may qualify. Unless Congress acts, these properties will revert to straight-line depreciation after Dec. 31, 2011.
R&D Tax Credit: The Research and Development Tax Credit has never been made permanent, and judging by history, there is a good chance that it will be allowed to expire at the end of 2011. If your company has conducted qualified research to develop or improve products and processes during the year, you might qualify for this credit. Most tax watchers believe that it's almost certain that the credit will eventually be renewed, but the push for tax reform could stall the inevitable. Analyze expenses now to see how much credit you may qualify to receive.
Work Opportunity Tax Credit: With the exception of a newly enacted credit for hiring military veterans (see below), the Work Opportunity Tax Credit (WOTC) is set to end on Dec. 31, 2011. WOTC allows employers to claim a percentage of first-year wages for hiring workers in target groups including veterans, ex-felons, disabled persons and those receiving federal or state assistance. The credit is based on a percentage of the employee's first year wages. To claim the credit, employees must begin work before Jan. 1, 2012.
Returning Heroes Tax Credit/Wounded Warriors Tax Credit: Under the new Returning Heroes Tax Credit and the Wounded Warriors Tax Credit, employers that hire veterans who have been unemployed for more than six months may be eligible for a credit of up to $5,600 per employee. Those hiring veterans who have been unemployed for less than six months may be eligible for a credit of up to $2,400 per employee. Employers hiring veterans with service-connected disabilities who have been looking for employment for more than six months may qualify for a Wounded Warriors Tax Credit of up to $9,600 per employee.
HIRE Act Retention Bonus: Last year's HIRE Act (Hiring Incentives to Restore Employment) offered employers an exemption from Social Security payroll taxes for qualified workers hired any time after Feb. 3, 2010, and before Jan. 1, 2011. If those workers are still on the payroll 52 consecutive weeks after their initial hire date, you may be able to take the lesser of a $1,000 credit for each employee or 6.2 percent of wages paid to the retained worker during the 52 consecutive week period.
Domestic Production Activity Deduction: Virtually every U.S. manufacturing business, regardless of size or industry, is eligible for tax savings with the domestic production activities deduction (DPAD). DPAD offers a maximum deduction of 9 percent of income from qualified production activities, which may include:
- Manufacture, production, growth or extraction of tangible personal property, including software, sound recordings and qualified films
- Production of electricity, natural gas or potable water
- Construction services, including renovation of residential and commercial properties
- Engineering and architectural services related to a U.S. construction project
Small Business Health Care Tax Credit: The small business health care tax credit provides an incentive for small businesses and not-for-profits with 25 or fewer employees to offer employee health insurance coverage. To qualify, the workers must have an average income of $50,000 or less, and the employer must cover at least 50 percent of the cost of health care coverage. The credit phases out gradually for companies with average wages between $25,000 and $50,000. Currently, the credit is worth up to 35 percent of the qualifying business' premium costs in 2011, or 25 percent of costs for tax-exempt employers. In 2014, the rate increases to 50 percent and 35 percent for tax-exempt employers.
Energy-Related Credits: Originally enacted in 2009 and extended in 2010, the Renewable Energy Grant Program will continue offering cash grants for renewable energy projects that are under construction on Dec. 31, 2011. The program is administered by the Department of Treasury, and is offered in lieu of the Federal Business Energy Investment Tax Credit. It is ideal for new projects and start-up companies with limited cash flow. Grants are for up to 30 percent of the basis of the property for solar energy, fuel cells, small wind turbines and qualified facilities that produce electricity. Geothermal heat pumps, microturbines and combined heat and power may qualify for a 10 percent grant. Grant applications must be submitted by Oct. 1, 2012.

For more information about year-end tax incentives, contact a local Clifton Gunderson office, or visit www.cliftoncpa.com.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,800 professionals serving clients from 47 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International "Global Care" approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

Clifton Gunderson Issues Call to Action to Address New Private Company Financial Accounting Board Standards

Tue, 29 Nov 2011 06:00:00 GMT

Media Contact:
Jennifer Dirks, Director of Communications
Jennifer.Dirks@cliftoncpa.com
(414) 721-7646

MILWAUKEE, Wis. (November 29, 2011) - Clifton Gunderson LLP is intensifying its efforts to urge the Financial Accounting Foundation (FAF) to establish an independent board to set standards to U.S. generally accepted accounting principles (U.S. GAAP) for private companies. CEO Kris McMasters, CPA, is leading the efforts for the firm, which includes participation from the firm's nearly 700 certified public accountants in an aggressive campaign focusing on the needs of privately held businesses and their owners. The firm is working closely with its private company clients to help ensure their voices are heard on this important issue.

"FAF has really missed the mark when it comes to the needs of privately held company constituency," said McMasters. "While FAF's proposal recognizes the need for modifications to accounting standards, its methods for making these changes still follows a path that has failed for over 40 years. Unless there is a separate board, the concerns of users and preparers of privately held companies' financial statements will not be fully met. As a leader within the accounting profession and as a firm that champions the needs of private companies, we need to ensure the voices of private companies are heard. The time to act is now."

The firm is spearheading a letter-writing campaign leveraging its CPAs and private-company clients, urging them to express their disappointment directly to FAF regarding its failure to call for an independent board. To join Clifton Gunderson in taking a stand on this important initiative, the firm is providing a number of resources, including a sample letter-writing template provided by the AICPA and information to help clients and constituents understand the issue. To learn more, visit www.cliftoncpa.com. The comment deadline is January 14, 2012.

In 2010, the American Institute of CPAs worked with the FAF and the National Association of State Boards of Accountancy to form the Blue Ribbon Panel on Private Company Financial Reporting, which included lenders, representatives of the investment community, business owners, financial statement preparers and public accountants. The Panel explored the changes necessary to best meet the needs of U.S. users and preparers of private company financial statements. On January 25, 2011, the Panel sent its report to the FAF's Board of Trustees. An overwhelming majority of the Panel's members agreed that the financial reporting problems affecting private company constituencies could be alleviated by implementing the following recommendations:

Changes and modifications should be made to existing U.S. generally accepted accounting principles, where appropriate, for private companies to reflect their financial statement users' unique needs.
A separate board with standard-setting authority should be created, under the FAF's oversight, to incorporate the necessary changes effectively. The new board would consist of members with private company constituent experience and work closely with the Financial Accounting Standards Board.

McMasters, a past member of the Blue Ribbon Panel on Standard Setting for Public Companies, is a strong advocate for change. "FAF has rejected the voices of a diverse panel that understood the needs of private companies and their financial statement users. An independent, authoritative board is necessary for true and lasting improvements to private company financial reporting," she said.

Clifton Gunderson's focus on private companies will take on new meaning in the new year. On January 2, 2012, pending final approvals, Clifton Gunderson will merge with accounting firm LarsonAllen LLP. The new firm will be named CliftonLarsonAllen (CLA). CLA will bring together two firms of significant magnitude to offer unprecedented emphasis on serving privately held businesses and their owners, as well as entities in the public sector - not-for-profits and governmentals. Access to a firm with a top 10 presence and capabilities committed to serving primarily these types of clients is rare. The new firm will have more than $550 million in combined revenue, employ more than 3,600 professionals, including 500-plus partners, and will operate from 25 states and Washington, D.C.

Clifton Gunderson Pushes Separate Board for Private Company GAAP

Tue, 29 Nov 2011 06:00:00 GMT

Clifton Gunderson Pushes Separate Board for Private Company GAAP

Clifton Gunderson Presents Free Webcast on Accounting For Financial Institutions

Fri, 18 Nov 2011 06:00:00 GMT

Media Contact:
Ann Dee Allen, PR Manager
(414) 721-7513
AnnDee.Allen@cliftoncpa.com

MILWAUKEE, Wis. (November 18, 2011) - "Accounting Update for Financial Institutions" is the title of a free webcast to be presented by Clifton Gunderson for financial and accounting professionals at banks and credit unions. The webcast offers an overview of current and prospective accounting and financial reporting developments and their impact on financial institutions.

The webcast will cover:

Updated guidance for troubled debt restructurings (TDR)
New disclosures related to credit quality TDRs
Developments in lease accounting and fair value measurement.

The complimentary webcast will be held Thursday, December 15, 2011 from 1:00-2:00 p.m. Central time (12:00 p.m. Mountain; 2:00 p.m. Eastern). Registration is required at www.cliftoncpa.com. For questions about the webcast, please contact Kathy Kiedrowski at (608) 662-8679 or Kathy.Kiedrowski@cliftoncpa.com. 1.0 CPE credit is available. Visit the website for more details.

Participants who attend this webcast will:

Gain insight into how to properly implement the enhanced TDR guidance
Understand and draft the new credit quality disclosures
Recognize and monitor new accounting guidance which impacts the financial institutions industry.

About our presenters:

Matthew Birkelien, CPA
Birkelien has more than 15 years of auditing and accounting experience primarily focused on financial statement audits and co-sourced and out-sourced internal audits with an emphasis on financial institutions and local governmental entities. He is the Mid-Atlantic Financial Institution Team Leader for Clifton Gunderson.

Todd Sprang, CPA
Sprang has more than 18 years of accounting, auditing and consulting experience primarily focused on financial statement audits and internal control engagements for real estate organizations, financial institutions and professional services firms. He is the Partner in Charge of Financial Institutions for Clifton Gunderson.

Clifton Gunderson Presents Free Webcast on Preparing for a Retirement Plan Audit

Thu, 17 Nov 2011 06:00:00 GMT

Media Contact:
Ann Dee Allen, PR Manager
(414) 721-7513
AnnDee.Allen@cliftoncpa.com

MILWAUKEE, Wis. (November 17, 2011) - An audit notice from the Department of Labor (DOL) or Internal Revenue Service (IRS) for your retirement or welfare plan should not be cause for panic. With a proactive approach and the right team of professionals, you can reduce the impact to your organization. "Audit Notice? A No-Panic Guide on What to Expect and How to Prepare" is the title of a free online webcast to be presented by Clifton Gunderson on December 7, 2011. Join employee benefit plan audit professionals as they address how to approach an audit proactively.

The webcast will highlight:

Common triggers for IRS and DOL audits
Response to the audit notice and preparation
Audit process and presentation of materials
IRS and DOL correction programs.

The one-hour webcast will be presented Wednesday, Dec. 7, at 1:00 p.m. Central Time (11:00 a.m. Pacific, 12 p.m. Mountain, 2:00 p.m. Eastern). Registration is required at www.cliftoncpa.com. For questions about the event, please contact Brittany Korth at (309) 495-8769 or Brittany.Korth@cliftoncpa.com. One CPE credit is available.

After participating in this event, attendees will be able to:

Understand DOL/IRS audit triggers
Know how to respond when selected for audit
Describe the general audit process
Develop a plan to prepare information and present it for an audit
Identify errors that may be corrected through IRS and DOL correction programs prior to audit.

About our presenters:

Mickie Murphy, QPA, QKA, ERPA
Murphy has more than 25 years experience in the employee benefits field, providing administration, recordkeeping, compliance and government reporting for qualified retirement plans, including 401(k), profit sharing, pension and ESOP plans, as well as reporting and compliance for health and welfare plans.

Kevin Wadle, CPA
Wadle has more than 26 years of experience in tax and benefit services, with an emphasis on qualified and non-qualified benefit plans, representation in front of the IRS and DOL, and assistance in maintaining the tax status of benefit plans. He specializes in the design, implementation, operation, compliance and termination of qualified and non-qualified benefit plans.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,800 professionals serving clients from 47 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International "Global Care" approach. Pending final approvals, on January 2, 2012, Clifton Gunderson will merge with LarsonAllen LLP. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

GuideStar, Clifton Gunderson Present Free Webcast on Not-for-Profit Challenges

Wed, 16 Nov 2011 06:00:00 GMT

Media Contact:
Ann Dee Allen, PR Manager
AnnDee.Allen@cliftoncpa.com
414.476.1880

MILWAUKEE, Wis. (November 16, 2011) - The "new normal" for not-for-profits includes a host of challenges from declining revenues and government funding, to increasing IRS scrutiny and regulations. To address these challenges, GuideStar and Clifton Gunderson LLP will present a free webcast titled "What's Ahead and What to do About it," on December 8, 2011. The webcast is recommended for not-for-profit CEOs, chief financial officers, controllers and financial professionals.

The 60-minute webcast by Bob Ottenhoff, President and CEO of GuideStar, and Robert Nowak, CPA, Firmwide Tax-Exempt Tax Leader for Clifton Gunderson LLP, will help participants better understand the scope of the challenges ahead so they can plan strategies to thrive in the new environment.

During the webcast, the presenters will highlight:

Current Internal Revenue Service areas of interest, including interaction of related organizations, taxable subsidiaries and transfer pricing
Compliance and tax issues involving alternative investments
Unrelated business income taxation regarding advertising, sponsorships and events
Fund-raising reporting rules.

The complimentary webcast will be held Thursday, December 8, 2011, from 1:00-2:00 p.m. CDT (12:00-1:00 p.m. MST and 2:00-3:00 p.m. EST). Registration is required at www.cliftoncpa.com. For questions about the webcast, please contact Nicole Meeks at (715) 344-4984 or Nicole.Meeks@cliftoncpa.com. 1.0 CPE credit is available. Visit the website for more details.

Participants in the webcast will learn about:

Trends including declining support and increasing demand for services
New funding sources and revenue streams
Donor relationships and stewardship
Best practices of high performance not-for-profits
Areas of increasing IRS scrutiny
Risks of alternative investments
Recent rulings on unrelated business income taxes.

About our presenters:

Bob Ottenhoff
Ottenhoff, President and CEO of GuideStar, has 25 years of management experience in public broadcasting and high-tech companies, including nine years as chief operating officer of the Public Broadcasting Service. He currently serves on the boards of several major foundations and not-for-profits.

Robert Nowak, CPA
Nowak, MST, Firmwide Tax-Exempt Tax Leader for Clifton Gunderson, focuses on transactional analysis, due diligence, mergers and acquisitions, unrelated business income, lobbying exposure analysis, foreign activities, taxable subsidiaries, alternative investments and IRS dispute resolutions.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,800 professionals serving clients from 47 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International "Global Care" approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

About GuideStar
GuideStar, www.guidestar.org, is the leading source of nonprofit information, connecting people and organizations with information on the programs and finances of more than 1.8 million IRS-recognized nonprofits. GuideStar serves a wide audience inside and outside the nonprofit sector, including individual donors, nonprofit leaders, grantmakers, government officials, academic researchers, and the media.

Clifton Gunderson, LarsonAllen to Merge, Create Top 10 Firm

Wed, 02 Nov 2011 05:00:00 GMT

Clifton Gunderson, LarsonAllen to Merge, Create Top 10 Firm

Clifton Gunderson, LarsonAllen to Merge: New Firm Will Rank Among Top 10 CPA Firms

Wed, 02 Nov 2011 05:00:00 GMT

Clifton Gunderson, LarsonAllen to Merge: New Firm Will Rank Among Top 10 CPA Firms

Clifton Gunderson and LarsonAllen to Merge

Tue, 01 Nov 2011 05:00:00 GMT

Clifton Gunderson and LarsonAllen to Merge

LarsonAllen merging with Clifton Gunderson, doubling firm size

Tue, 01 Nov 2011 05:00:00 GMT

LarsonAllen merging with Clifton Gunderson, doubling firm size

Clifton Gunderson to merge with Minneapolis firm

Tue, 01 Nov 2011 05:00:00 GMT

Clifton Gunderson to merge with Minneapolis firm

Clifton Gunderson, LarsonAllen Announce Plans to Merge - CliftonLarsonAllen Will Rank Among Top 10

Tue, 01 Nov 2011 05:00:00 GMT

Media Contact:
Jennifer Dirks, Director of Communications
(414) 721-7646
Jennifer.Dirks@cliftoncpa.com

MILWAUKEE (Nov. 1, 2011) - Clifton Gunderson and LarsonAllen, ranked as two of the nation's top 20 certified public accounting and consulting firms, today announced plans to merge and form one of the top 10 accounting firms in the United States. The partners of both firms have agreed to the combination. Pending final approvals, the merger will take effect Jan. 2, 2012. The new firm will be named CliftonLarsonAllen (CLA).


	Fact Sheet Leadership Locations History Ready-to-use Content

CLA will bring together two firms of significant magnitude to offer unprecedented emphasis on serving privately held businesses and their owners, as well as entities in the public sector - not-for-profits and governmentals. Access to a firm with a top 10 presence and capabilities committed to serving primarily these types of clients is rare. The new firm will have more than $550 million in combined revenue, employ more than 3,600 professionals, including 500-plus partners, and will operate from 25 states and Washington, D.C.

CLA will have a dominant presence in the accounting profession with its highly specialized capabilities in the health care, financial institutions, governmentals, not-for-profits, manufacturing/distribution, construction, real estate, agribusiness, dealerships, employee benefit plans and other industries, in addition to its strong technical foundation in audit, accounting and advisory services.

"This merger of peer firms changes the landscape of the accounting profession and pioneers a new trend by focusing primarily on private companies and their owners," said Clifton Gunderson CEO Kris McMasters. "We will be the firm of choice, the champions and leading resource center for privately held companies, proactively addressing their needs with our comprehensive suite of services. The firm will be positioned as the go-to source of information, knowledge and unique offerings for owners and leaders looking for assistance in achieving their personal and business dreams and objectives."

Gordy Viere, CEO of LarsonAllen, said industry specialization has been at the core of both firms' practices. "Coming together heightens our capacity to develop that vital focus and extend it beyond our accounting and advisory services to our wealth management and outsourcing capabilities," he said. "This cohesive trio of industry-focused guidance is uncommon for private businesses and public sector organizations. It's a powerful new resource for them."

CLA will have a national wealth management practice positioned as one of the top three in the accounting profession, with nearly $3 billion in assets under management. The combined firm will boast a $50 million industry-specialized outsourcing practice to help clients meet their financial, tax regulatory compliance and reporting responsibilities. In addition, CLA will have the capacity to help clients with international dealings successfully do business in a global environment.

Organizational structure
Organizationally, the new firm will be built around a holding company and three entities: CLA LLP, CLA Wealth Advisory and CLA Outsourcing - all integrated in their capabilities and delivery of services. Both Viere and McMasters are proven leaders and peers in the accounting profession, having been recognized for their strong leadership. They will continue as CEOs within the integrated CLA firm. Viere will oversee the CLA holding company, the wealth advisory practice and the outsourcing practice, and McMasters will oversee CLA LLP, the public accounting practice.

Helping people build careers
This union brings together two firms that have a culture of maximizing and growing the strengths of their people through progressive and innovative career development strategies and programs. Both firms have received significant recognition for their workplace practices. The two leaders share a passion for ensuring their professionals have the tools and experiences to build great careers customized to their individual long-term goals. CLA will offer employees flexibility, career choice, learning programs and experiences designed to attract people who want to develop themselves into well-rounded business and financial professionals, while pursuing their chosen specialty.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,800 professionals serving clients from 47 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high-quality service to clients in over 100 countries through the HLB International "Global Care" approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

About LarsonAllen
LarsonAllen LLP (LarsonAllen) is a highly industry specialized firm that ranks as one of the U.S.'s top 20 accounting/professional services firms that provides audit, accounting, tax, consulting, and advisory services. Founded in 1953, LarsonAllen has approximately 1,800 people operating from 40 offices located in Arizona, Florida, Idaho, Illinois, Massachusetts, Minnesota, Missouri, North Carolina, Pennsylvania, Texas, Washington, Washington, D.C., and Wisconsin. LarsonAllen is an independent member of Nexia International, a top 10 worldwide organization providing services to clients globally. For more information about LarsonAllen, visit www.larsonallen.com.

[Note to media:] For more information, images and ready-to-publish content, visit www.cpamergermedia.com.

How your ‘bonuses’ can pay a bonus

Sun, 30 Oct 2011 05:00:00 GMT

How your ‘bonuses’ can pay a bonus

Clifton Gunderson Presents Free Webcast on U.S. and Global Taxation

Tue, 25 Oct 2011 05:00:00 GMT

Media Contact:
Ann Dee Allen, PR Manager
AnnDee.Allen@cliftoncpa.com
414.476.1880

MILWAUKEE, Wis. (October 25, 2011) - Navigating the complex world of taxation can be daunting, especially for expanding businesses. Understanding how U.S. and foreign tax rules interact can help tax leaders meet the challenges of today's tax environment. Clifton Gunderson LLP will present a free webcast titled "What's New in U.S. and Global Taxation" on November 9, 2011 for business executives, chief financial officers, tax directors and others involved in taxation and international issues.

During the webcast, our presenters will highlight:

Recent U.S. tax legislation affecting business tax incentives
State and local tax updates
Structuring considerations when going global
Repatriating foreign earnings
Mitigating double taxation on foreign earnings.

The complimentary 60-minute webcast will be held Wednesday, November 9, 2011, from 1:00-2:00 p.m. CDT (12:00-1:00 p.m. MST and 2:00-3:00 p.m. EST). Registration is required at www.cliftoncpa.com. For questions about the webcast, please contact Brittany Korth at (309) 495-8769. 1.0 CPE credit is available. Visit the website for more details.

After participating, participants will be able to:

Understand recent U.S. tax legislation that affects business tax benefits
Identify opportunities that exist based upon new legislation
Identify new multistate issues that may exist for businesses generating revenue from sources outside their home states
Understand entity structure options and implications for doing business abroad
Understand the tax effect when repatriating earnings back to the U.S.
Identify alternatives to mitigate double taxation on earnings.

About our presenters:

Chris Beaulieu, CPA, MST
Chris is a tax partner in Clifton Gunderson's Oak Brook, Ill. office. With more than 26 years of tax accounting experience, he has worked with entities across a wide range of industries. He has special expertise in the areas of consolidation tax issues, complex multi-state and local sales and use tax issues, and corporate structuring and restructuring to capitalize on favorable tax positions. In addition, Chris has provided direct assistance before the Internal Revenue Service and state taxing authorities. He brings specialized skills in tax consulting and planning for the unique situations encountered by business owners and executives regarding federal and state corporate, individual, partnership and fiduciary income tax. Chris is a member of the American Institute of Certified Public Accountants and the Illinois CPA Society. He is also a member of the State and Local Tax Committee for the Illinois CPA Society.

Aileen Arsenault, MBA
Aileen is a managing director for Clifton Gunderson's international tax services team. With more than 15 years of experience, she specializes in international tax planning, compliance, reporting and audit. Her focus is on earnings and profits; Subpart F, Section 861 expense allocation and apportionment; Foreign Tax Credit tracking and utilization; and repatriation of earnings. Her additional areas of expertise include Section 199 Domestic Production Activity Deduction, FIN48 assessment and reporting, and tax process improvement implementations with an emphasis on internal controls. Prior to her tenure in tax consulting, Aileen worked for 12 years in the corporate sector in tax, treasury and internal audit.

Margaret (Peggy) Nowak, MST, MBA, EA
Peggy serves as the director of global tax compliance solutions with Clifton Gunderson's international tax services team. With more than 20 years of experience, she focuses on international tax services and global tax outsourcing; consulting on topics including U.S. and global tax effect of expansion into foreign jurisdictions; restructuring; repatriation planning; Subpart F issues; foreign tax credit analysis; treaty interpretation and inbound and outbound compliance; and reporting. Prior to joining Clifton Gunderson, Peggy was a director at Deloitte Tax LLP where she worked on the international tax compliance platform and managed international tax compliance for diverse clients, including some of the world's largest public and privately held corporations, mid-size manufacturers and service organizations.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,800 professionals serving clients from 47 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International "Global Care" approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

Maximize the Value of Your Construction Company with a Clifton Gunderson, CFMA Webcast

Wed, 05 Oct 2011 05:00:00 GMT

Media Contact:
Ann Dee Allen, PR Manager
(414) 721-7513
AnnDee.Allen@cliftoncpa.com

MILWAUKEE, Wis. (October 5, 2011) - One of the biggest issues facing owners and managers of contracting companies is how to maximize the value of the company for owners, employees, lenders and potential buyers. "Maximizing the Value of Your Construction Company" is the title of an online webcast to be presented by Clifton Gunderson and the Construction Financial Management Association (CFMA) on October 12. Owners, chief financial officers, directors and controllers in the construction, real estate, architectural and engineering industries will find this 60-minute webcast of value.

The webcast will be presented on Wednesday, October 12, at 2:00 p.m. Central Time (1:00 p.m. MDT, 3:00 p.m. EDT). Registration is required at http://www.prolibraries.com/cfma/?select=webinar_register. Registration is free for CFMA members and $59.95 for non-members. For questions about the event, please contact Kathy Kiedrowski at (608) 662-8679 or Kathy.Kiedrowski@cliftoncpa.com. One CPE credit is available from CFMA.

After participating in this event, attendees will:

Understand and recognize strategic management decisions that may impact the value of the company.
Be prepared to consider how decisions made throughout the ongoing operation and management of the company can impact the value of the company.
Be able to identify the factors that need to be considered to fairly value the company.

About our presenter:

Timothy P. Muehler, CPA/ABV/CFF, CVA, JD
Tim has spent more than 18 years in public accounting and has been actively engaged in business valuation work since 1996. He is experienced in business valuation, individual and fiduciary tax planning and consultation, including acquisitions and mergers, and estate planning. His experience also includes a wide variety of litigation support engagements. During the past 15 years, Tim has testified on contract and business disputes, various types of business valuations and computation of damages. He is a Certified Public Accountant, Accredited in Business Valuation, and a Certified Valuation Analyst. He also received the Certificate of Educational Achievement in Business Valuation from the American Institute of CPAs.

The Construction Financial Management Association (CFMA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

Data Analysis Tips and Techniques to Uncover Fraud Red Flags

Fri, 30 Sep 2011 05:00:00 GMT

Data Analysis Tips and Techniques to Uncover Fraud Red Flags

Accounting Actions

Thu, 29 Sep 2011 05:00:00 GMT

Accounting Actions

Will Congress green light the Main Street Fairness Act?

Thu, 29 Sep 2011 05:00:00 GMT

Will Congress green light the Main Street Fairness Act?

Clifton Gunderson Presents Free Webcast on Low-Income Housing Tax Credits

Thu, 22 Sep 2011 05:00:00 GMT

Media Contact:
Sada Kempf, Senior PR Associate
(920) 232-2230
Sada.Kempf@cliftoncpa.com

MILWAUKEE, Wis. (September 22, 2011) - In the ever-changing world of taxes, the Low-Income Housing Tax Credit (LIHTC) program is not exempt. The future of this program could see several changes in the coming years; especially as comprehensive tax reform is being given serious consideration. Clifton Gunderson professionals will address the current state of the LIHTC program and discuss practical ways to help you efficiently and profitably navigate the intricate tax and business issues related to affordable housing tax credits.

The webcast, titled "Low-Income Housing Tax Credits: An Accounting and Tax Update," is intended for developers, property managers, public housing authority directors, syndicators, investors and lenders involved in the affordable housing industry.

Specific learning objectives include:

Interpret emerging IRS guidance relative to Section 42 compliance
Describe 15-year exit strategies for LIHTC developments
Leverage energy-efficient-building credits
Discuss what to expect from an IRS examination
Recognize the impact of recent accounting pronouncements on financial statement presentation.

The complimentary webcast will be held Wednesday, October 5, 2011 from 1:00-2:15 p.m. CDT. Registration is required at www.cliftoncpa.com by October 4. For questions about the webcast, please contact Rebecca Shaffer at 630-368-3601 or Rebecca.Shaffer@cliftoncpa.com. 1.0 CPE credit is available. Visit the website for more details.

About our presenters:

Robert Nowak Jr., CPA, MST
Nowak has 18 years of experience assisting real estate related businesses with tax matters. He has deep expertise in complex multi-family affordable housing developments, tax credit syndication, tax-exempt social service and housing organizations, and partnership taxation.

The Evolving Role of Internal Audit in Risk Management

Fri, 16 Sep 2011 05:00:00 GMT

The Evolving Role of Internal Audit in Risk Management

New Retirement Plan Regulations

Mon, 29 Aug 2011 05:00:00 GMT

New Retirement Plan Regulations

Finding a mentor - with or without algorithms

Mon, 29 Aug 2011 05:00:00 GMT

Finding a mentor - with or without algorithms

Tax Breaks to Consider for 2011

Fri, 26 Aug 2011 05:00:00 GMT

Tax Breaks to Consider for 2011

Clifton Gunderson Sponsors TechPoint's Technology Focused CFO Roundtable Seminar Series

Mon, 22 Aug 2011 05:00:00 GMT

Media Contact:
Sada Kempf, Senior PR Associate
(920) 232-2230
Sada.Kempf@cliftoncpa.com

INDIANAPOLIS, Ind. (August 22, 2011) - Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms, today announced a roundtable series developed especially for chief financial officers of Indiana technology companies. The new TechPoint CFO Roundtable presented by Clifton Gunderson will be an invitation-only series that brings tech-focused CFOs together every three months for open, frank discussion about major issues that high-tech CFOs are facing.

"The role of the CFO continues to be stretched and pulled in this turbulent economy, and having an open forum for frank discussion with other tech CFOs is valuable," said John Sauder, managing partner of Clifton Gunderson's Indiana practice. "Indiana is fortunate to have an organization like TechPoint working to grow and nurture the technology industry and Clifton Gunderson is proud to partner with TechPoint on this new roundtable series."

"Our TechPoint roundtables provide a rare occasion for executives to come together and talk about the problems and opportunities, as well as issues that are unique to tech sector businesses," said Jim Jay, president and CEO of TechPoint. "We are grateful for the support of Clifton Gunderson and excited to embark on this new partnership with them creating the TechPoint CFO Roundtable series."

CFOs of technology companies or related knowledge-based businesses interested in attending the first TechPoint CFO Roundtable presented by Clifton Gunderson on September 23, 2011, should contact Kayla Garcia of TechPoint at kgarcia@techpoint.org or call 317-275-2080 to request an invitation.

Clifton Gunderson, Willis of Wisconsin Present Free Webcast on Practical Applications of Health Care Reform

Thu, 18 Aug 2011 05:00:00 GMT

Media Contact:
Ann Dee Allen, PR Manager
(414) 721-7513
AnnDee.Allen@cliftoncpa.com

MILWAUKEE, Wis. (August 19, 2011) - "Practical Applications of Health Care Reform: How prepared are you to implement reform provisions?" is the title of a free online Webcast to be presented by Willis and Clifton Gunderson LLP on Sept. 1, 2011. Join professional experts as they explain the provisions of the Patient Protection and Affordable Care Act (PPACA), what participants can do to better manage and benefit from health care reform, and how reform might affect the bottom line.

The presentation will address these and other questions:

What new obligations do employers have that involve coverage options?
How will health insurance exchanges work?
What role do wellness programs play and what are potential reform benefits for employees?
Where do eligibility audits fit into the new picture?
How does reform affect employment and severance contracts?

The one-hour webcast will be presented on Thursday, September 1, at 1:00 p.m. Central Time (12:00 p.m. MDT, 2:00 p.m. EDT). Registration is required at www.cliftoncpa.com/Resources/Events. For questions about the event, please contact Kathy Kiedrowski at (608) 662-8679 or Kathy.Kiedrowski@cliftoncpa.com.

After participating in this event, attendees will be able to:

Understand how PPACA will impact their businesses
Proactively seek out information that could impact future profitability
Prepare to manage the changes and benefit from them
Plan and make financial adjustments or operational changes to handle the new mandates.

Presenters include:
James J. Andreucci, Jr., JD, Clifton Gunderson LLP
Deborah D. Freeland, CPA, Clifton Gunderson LLP
John A. Rubatt, CPA, Willis
Elizabeth E. Vollmar, JD, Willis

About Willis
Willis is recognized as a leading global insurance broker, handling risk management and reinsurance across a wide range of service areas and industries. With nearly 20,000 Associates positioned in 400 offices across 100 countries, Willis specializes in risk management and reinsurance, concentrating solely on broking, risk management and consulting, to provide the solid service and high level of expertise.

Clifton Gunderson to Relocate Phoenix Office to New Location

Thu, 11 Aug 2011 05:00:00 GMT

Media Contact:
Sada Kempf, Senior PR Associate
(920) 232-2230
Sada.Kempf@cliftoncpa.com

PHOENIX, Ariz. (August 11, 2011) - Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms, today announced it will relocate its Phoenix office. Effective January 1, 2012, Clifton Gunderson will become a new tenant at 20 East Thomas Road, Phoenix, Ariz. The new location will accommodate the expansion of Clifton Gunderson's Phoenix practice office.

"Our decision to relocate our office is in direct response to our growing presence in the Phoenix business community," said Rick Goldenson, managing partner of the firm's Southwest practice, which includes offices in Phoenix, Tucson, and Austin, Texas. "20 E. Thomas will accommodate our expanding personnel and firm resource needs and is convenient and central to our employees and clients. Our commitment to the Phoenix community is further evidenced by this move and we look forward to continuing to provide our expertise to support the ever growing needs of our clients."

The firm will relocate its employees to the 23rd and 24th floors of 20 East Thomas. The building is owned and managed by LBA Realty, LLC.

Clifton Gunderson has been serving the Phoenix community since 1974. During its 37 year history, the office has grown to 95 professionals. Clifton Gunderson provides a wide range of assurance, tax, financial planning and consulting solutions to clients in a variety of industries. The firm has a strong national presence serving clients in 47 offices across the country with a staff of more than 1,800 professionals.

Clifton Gunderson engaged with Dominic Perry and Julie Johnson from GPE Commercial Advisors as their tenant representatives for 20 East Thomas.

"GPE approached this engagement similarly to how we work with our clients - by listening to and understanding the client needs," said Goldenson. "They kept us apprised of the process and were very attentive to the details from start to finish. Ultimately, GPE found us new office space that met and exceeded our expectations."

Keeping Your Company Safe: The Top 5 Corporate Compliance Issues Trending Now

Thu, 11 Aug 2011 05:00:00 GMT

Keeping Your Company Safe: The Top 5 Corporate Compliance Issues Trending Now

New accounting rules for troubled debt restructuring

Thu, 11 Aug 2011 05:00:00 GMT

New accounting rules for troubled debt restructuring

Third-Party Due Diligence: Identifying the Risks and Potential Rewards

Wed, 10 Aug 2011 05:00:00 GMT

Third-Party Due Diligence: Identifying the Risks and Potential Rewards

Clifton Gunderson Recipient of Best of Wisconsin Business Awards

Mon, 08 Aug 2011 05:00:00 GMT

Media Contact:
Sada Kempf, Senior PR Associate
Phone: (920) 232-2230
Sada.Kempf@cliftoncpa.com

MILWAUKEE, Wis. (August 8, 2011) - Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms, today announced the firm won three awards at Corporate Report Wisconsin's 7th annual Best of Wisconsin Business Awards luncheon.

Clifton Gunderson was recognized with the following awards:

Best Financial Services Firm* - Platinum Winner
Best Information Technology Company - Platinum Winner
Best Accounting Firm - Silver Winner

Nearly 2,000 Corporate Report Wisconsin readers cast their votes to determine the platinum, gold and silver winners in each of the 28 categories.

"We are very pleased to be recognized by Corporate Report Wisconsin as a best business in Wisconsin for our accounting, financial, and technology practices," said Mark Williams, managing partner of the Wisconsin practice. "We congratulate all the businesses recognized with this award."

Corporate Report Wisconsin is a "business to business" magazine published in the Madison area. All subscribers of the publication are encouraged to vote annually for the Best of Wisconsin firm in many categories, including "Best Financial Services Firm". Voters can vote for any firm including their own employer. Clifton Gunderson Wealth Advisors LLC is not affiliated with Corporate Report Wisconsin and has not paid any fee to be included in the vote. None of the ratings may be representative of any one client's experience because the rating reflects an average of all votes of an unknown number of clients and non-clients. It is not know how many investments service providers were voted for and the percentage of providers that received votes. The rating is not indicative of the future performance.

For the purpose of this rating "Platinum Winner" means that the firm has received the most votes in the category and "Silver Winner" means the firm finished third in the category.

*Advisory services offered through Clifton Gunderson Wealth Advisors LLC, a Registered Investment Advisor.

Clifton Gunderson, CFMA Present Webcast on Government Incentives

Wed, 27 Jul 2011 05:00:00 GMT

Media Contact:
Ann Dee Allen, PR Manager
(414) 721-7513
AnnDee.Allen@cliftoncpa.com

MILWAUKEE, Wis. (July 27, 2011) - "Understanding How Government Incentives Help Win New Work" is the title of an online webcast to be presented by Clifton Gunderson and the Construction Financial Management Association (CFMA) on August 10. Chief financial officers, directors and controllers in the construction industry will find this 60-minute webcast of value.

Join Clifton Gunderson tax and construction finance experts Brian Humes, CPA, and Michael Noyes, PE, as they address these topics relating to government incentives:

How federal, state and local subsidies can help move projects forward
The financial impact of tax increment financing (TIF)
Special district incentives
Various tax credits
The income tax consequences of credits and incentives

The webcast will be presented on Wednesday, August 10, at 2:00 p.m. Central Time (1:00 p.m. MDT, 3:00 p.m. EDT). Registration is required at http://www.prolibraries.com/cfma/?select=webinar_register. Registration is free for CFMA members and $59.95 for non-members. For questions about the event, please contact Kathy Kiedrowski at (608) 662-8679 or Kathy.Kiedrwoski@cliftoncpa.com. One CPE credit is available from CFMA.

After participating in this event, attendees will understand:

The financial impact of incentives to the internal and external project teams
Where to find incentives for various projects
The certification process and how to claim deductions.

About our presenters:

Brian Humes, CPA
Humes is a tax partner with Clifton Gunderson in Saint Louis, MO. He has more than 20 years of experience advising clients in a wide spectrum of industries, with a heavy concentration in commercial real estate transactions and consulting including contractors which have development divisions. Brian has worked on over 75 tax increment financing projects related to their structuring and income tax planning. His real estate experience includes consulting related to New Market Tax Credits, TDD and CID incentives as well as real estate tax abatements.

Michael Noyes, PE
Noyes is a senior manager of federal tax consulting services in Greenwood Village, CO. For over 17 years, Michael has provided consulting services in construction and natural resources matters with particular emphasis and specialized expertise in construction auditing, construction claims, and building-related tax deductions. He has provided services to public and private entities in a variety of industries, including energy, transportation, healthcare, education, and multi family housing.

The Construction Financial Management Association (CFMA) is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417.Web site: www.nasba.org.

Manufacturing Outlook Survey Indicates Continuing Uncertainty

Fri, 22 Jul 2011 05:00:00 GMT

Manufacturing Outlook Survey Indicates Continuing Uncertainty

‘Let the waltz begin’ - Successful merger requires legwork on the front end

Fri, 22 Jul 2011 05:00:00 GMT

‘Let the waltz begin’ - Successful merger requires legwork on the front end

Board Governance Focus of New Survey

Wed, 20 Jul 2011 05:00:00 GMT

Board Governance Focus of New Survey

Update on Proposed Accounting Rules for Multiemployer Benefit Plans

Fri, 08 Jul 2011 05:00:00 GMT

Update on Proposed Accounting Rules for Multiemployer Benefit Plans

Clifton Gunderson's St. Joseph Office Honored With Employer of Excellence Award

Fri, 01 Jul 2011 05:00:00 GMT

Media Contact:
Sada Kempf, Senior PR Associate
(920) 232-2230
Sada.Kempf@Cliftoncpa.com

ST. JOSEPH, Mo. (July 1, 2011) - Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms, today announced its St. Joseph office has been awarded the Employer of Excellence Award by the St. Joseph YWCA. Clifton Gunderson was honored with this award at the 2011 Women of Excellence Luncheon on June 16, 2011.

The YWCA Women of Excellence awards honor, recognize and celebrate women and businesses that make an impact on the future of women in the community.

Women and businesses were awarded in the following categories:

Lifetime Achievement
Employer of Excellence
Emerging Leader
Future Leader
Woman in Support Services
Woman in Volunteerism
Woman in the Workplace

"Clifton Gunderson has many programs in place that promote a culture of developing female leadership," said Betty Akard, partner-in-charge of the firm's St. Joseph office. "Our firm takes great pride in these programs and we are honored to be recognized by the St. Joseph YWCA as an Employer of Excellence."

Is Your Technology As Efficient As It Could Be?

Wed, 22 Jun 2011 05:00:00 GMT

Is Your Technology As Efficient As It Could Be?

Clifton Gunderson CEO Krista McMasters Named Woman of Influence by Milwaukee Business Journal

Mon, 13 Jun 2011 05:00:00 GMT

Media Contact:
Jen Dirks, Director of Communications
Jennifer.Dirks@cliftoncpa.com
(414) 721-7646

MILWAUKEE, Wis. (June 13, 2011) - Krista McMasters, chief executive officer of Clifton Gunderson LLP, has been named a Woman of Influence by The Business Journal Serving Greater Milwaukee for the second time in eight years. McMasters was selected in the Corporate Executive category, which recognizes female executives who have made their mark in a large corporate environment. She was an award winner in the same category in 2004, and was chosen this year for advancing in a field mostly represented at the top level by men. "She moved from director of assurance services and partner-in-charge of HR to chief executive officer, which the judges saw as a significant accomplishment," said Todd Bragstad, associate editor of the Milwaukee Business Journal.

McMasters was among 29 winners in 10 categories that included Corporate Executive, Behind the Scenes, Community Support, Entrepreneur, Family Business, Innovation, Inspiration, Mentor, Nonprofit Leadership and Public Policy. The Business Journal received about 130 nominations for the awards. To be eligible, women must work in Milwaukee, Kenosha, Ozaukee, Racine, Washington or Waukesha counties.

Winners were profiled in the Milwaukee Business Journal Women of Influence special section on June 10 and an awards luncheon was held in honor of the winners at the Frontier Airlines Center in downtown Milwaukee the same day.

McMasters was named CEO of Clifton Gunderson in June 2009. She joined Clifton Gunderson's Danville, Ill., office in 1978 and relocated to Milwaukee in a corporate role in 1995. Among her other responsibilities as CEO - McMasters is leading the merger and acquisition strategy for the accounting firm. The firm's strategic plan and growth goal is to reach $500 million in annual revenue by 2015, both through internal growth and acquisitions. The Milwaukee-based firm, which has 47 offices, completed five acquisitions in 2010 and has made two so far this year.

Clifton Gunderson Names New Partners

Wed, 01 Jun 2011 05:00:00 GMT

Media Contact:
Sada Kempf, Senior PR Associate
(920) 232-2230
sada.kempf@cliftoncpa.com

MILWAUKEE, Wis. (June 1, 2011) - Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms, today announced the approval of nine new partners for admission to the firm.

"People are our most valued asset at Clifton Gunderson, and that's especially true as we build our firm for the future and celebrate the admission of our newest partners," said Kris McMasters, CEO. "Our new partners embody all that Clifton Gunderson stands for, by providing exceptional client service and serving as trusted business advisors to help our clients grow and prosper. We congratulate all of our new partners for this achievement."

The 2011 new partners include:

Craig Conley (Indianapolis, Ind.)
Jason Feltz (Oshkosh, Wis.)
Terry Halfman (Milwaukee, Wis.)
John Kraft (Baltimore, Md.)
Andy Ranck (Baltimore, Md.)
Charles T. Smith III (Richmond, Va.)
Sean Walker (Milwaukee, Wis.)
Owen Ward (Baltimore, Md.)
Bret Yoder (Greenwood Village, Colo.)

Clifton Gunderson's St. Joseph Office Honored With “Best Companies to Work For” Award

Fri, 27 May 2011 05:00:00 GMT

Media Contact:
Sada Kempf, Senior PR Associate
(920) 232-2230
Sada.Kempf@cliftoncpa.com

ST. JOSEPH, Mo. (May 27, 2011) - Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms, today announced its St. Joseph office has been named a Best Company to Work For by Ingram's - Kansas City's Business Magazine.

Ingram's "Best Companies to Work For" recognizes workplaces of the highest quality in the Greater Kansas City area, those whose management practices, educational and advancement opportunities, benefits and spirit of teamwork set them apart from thousands of other companies throughout the region.

Clifton Gunderson was selected as a winner by an independent panel for its support of employee development initiatives and its ability to communicate the overall impact of these programs. Specifically, Clifton Gunderson was evaluated based on the following criteria:

Management practices: leadership, advancement opportunities, planning and communication.
Training/development: employee training programs, continuing education and advancement.
Pay and benefits: competitive, innovative salary structures; medical coverage, savings plans and employee perks such as flexible spending accounts; discount programs and flex hours.
Work environment: role satisfaction, teamwork and corporate culture.
Financial outlook: job, facility expansion and company financial stability.
Community service: donating time and/or dollars and paid time off to volunteer.

"Our goal at Clifton Gunderson is to create an environment where our employees are provided with the flexibility to maintain a healthy work/life balance," said Betty Akard, partner-in-charge of the firm's St. Joseph office. "Our firm takes great pride in our human resource accomplishments and we are honored to be recognized by Ingram's as a Best Company to Work For."

Clifton Gunderson will be recognized and honored at the 2011 "Best Companies to Work For" Awards Dinner coordinated by Ingram's.

Clifton Gunderson Named a Best Accounting Firm for Women by the American Society of Women Accountants and American Woman's Society of Certified Public Accountants

Mon, 23 May 2011 05:00:00 GMT

Benchmarking Study Ranks Firms on Criteria Focused on
Removing Barriers for Women in the Workplace

MILWAUKEE, Wis. (May 23, 2011) - The future of accounting depends on millennial women. The 2011 Best Accounting Firms are the profession's innovators in developing the newest generation of female talent, positioning their leadership pipelines for a bumper crop of women partners.

Clifton Gunderson - ranked as one of the nation's largest public accounting and consulting firms - is one of the Best.

Clifton Gunderson was recently named one of the "Best Accounting Firms for Women," by the American Society of Women Accountants and the American Woman's Society of Certified Public Accountants.

The Best Firms were selected from the 25 firms that participated in the 2011 Accounting MOVE Project, sponsored by the ASWA and AWSCPA, and made possible with the support of Rothstein Kass & Co. and Moss Adams, LLP.

Women fill the pipeline up more consistently at Clifton Gunderson than at most firms: 44 percent of the firm's senior managers are women, boding well for the next crop of partners. Work-life changes instituted a decade ago by now-CEO Kris McMasters have significantly contributed to the firm's high retention rates. Now Clifton Gunderson is doubling down on programs designed to arm women with skills and experience that qualify them for partner, tying those efforts to the team dynamics that successfully support its work-life culture.

What makes an accounting firm Best for Women? Top-notch programs and proof that those programs actually retain and advance women to partnership.

Firms were ranked on the range, depth and success of programs and workplace culture proven to remove barriers to women's success, especially at midlevel and above. The MOVE methodology pivots on four factors - money, opportunity, vital supports for work/life and entrepreneurship- known to advance women in the workplace.

"The Best Accounting Firms for Women show that innovation and excellence are found at firms of all sizes," said Joanne Cleaver, president of research partner Wilson-Taylor Associates.

About the 2011 Accounting MOVE Project
The Best Firms were among the 25 that participated in the 2011 Accounting MOVE Project. Through the project and its sponsoring associations, the American Society of Women Accountants and the American Woman's Society of Certified Public Accountants, the profession can consistently measure the status of women and collaborate on proven and promising practices that advance and retain women.

Key findings:

Millennials expect women to be business leaders, and view flex work and fair pay as family economic issues.
Women are pulling in new clients, even as they accelerate in the partnership pipeline, through innovative business development programs.
Pay equity must be validated by audits and reviews to validate women's trust in firm leadership.
Firms that publicly communicate the results of their diversity programs - not just their activities - rapidly gain authority with clients, employees and potential recruits.

The Accounting MOVE Project research partner is Wilson-Taylor Associates, Inc., which has been measuring and supporting the advancement of women since 1998.

Registration for the 2012 cycle of the Accounting MOVE Project opens in October 2011. Interested firms can gain more details about the project methodology through webinars offered by Wilson-Taylor this fall.

Please visit http://www.wilson-taylorassoc.com for additional information about Wilson-Taylor projects, reports and tools for advancing women.

Clifton Gunderson's Greater Chicagoland Practice Honored with Best Place to Work Award

Wed, 18 May 2011 05:00:00 GMT

Media Contact:
Sada Kempf, Senior PR Associate
(920) 232-2230
Sada.Kempf@cliftoncpa.com

OAK BROOK, Ill. (May 18, 2011) - Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms, today announced its Greater Chicagoland practice has been named a Best Place to Work by Crain's Chicago Business.

This awards program was designed to identify, recognize and honor the best places of employment in Cook, DuPage, Kane, Lake, McHenry and Will counties.

Companies from across the six counties entered the two-part process to determine the Best Places to Work in Chicago. The first part consisted of a survey evaluating each nominated company's workplace pay, promotions, health care and other benefits, hiring practices and more. This part of the process was worth 400 points of the total evaluation. The second part consisted of an employee survey to measure the employee experience on fairness of pay, vacation time, relationships with management and co-workers, career development and other day-to-day workplace issues. This part of the process was worth 600 points of the total evaluation. The combined scores determined the top companies and the final ranking. Buck Consultants, a New York employee and human resources consulting firm, developed and managed the survey process.

"Our goal at Clifton Gunderson is to create an environment where our employees are provided with the flexibility to maintain a healthy work/life balance," said Steve Meindl, managing partner of the firm's Greater Chicagoland practice. "Our firm takes great pride in our human resource accomplishments and we are honored to be recognized by Crain's Chicago Business."

Clifton Gunderson was recognized and honored at the Chicago's Best Placed to Work reception on April 21, 2011.

Clifton Gunderson Presents Free Webcast on Employee Benefit Plan Disclosure Requirements

Tue, 17 May 2011 05:00:00 GMT

Media Contact:
Ann Dee Allen, PR Manager
(414) 721-7513
AnnDee.Allen@cliftoncpa.com

MILWAUKEE, Wis. (May 17, 2011) - "Conquering New Disclosure Requirements: An Action Plan for Employee Benefit Administrators" is the title of a free online Webcast to be presented by Clifton Gunderson - ranked as one of the nation's largest certified public accounting and consulting firms - on May 26, 2011. Join Employee Benefit Plan experts Terry Halfman and Mickie Murphy as they address new disclosure requirements and highlight an action plan to ensure compliance.

The one-hour Webcast will be presented on Thursday, May 26; at 1:00 p.m. Central Time (12:00 p.m. MST, 2:00 p.m. EST). Registration is required at www.cliftoncpa.com/events. For questions about the event, please contact Brittany Korth at (309) 495-8769 or Brittany.Korth@cliftoncpa.com. One CPE credit is available.

After participating in this event, attendees will be able to:

Define the evolving fair value reporting requirements, the responsibilities of plan management, and the considerations when analyzing investment options
Recognize on new form 8955-SSA when a participant should be reported, what information you should report, and when the form should be filed
Describe the fiduciary responsibility of employers under the new fee disclosure requirements
Identify which plans are covered by the new fee disclosure requirements
Develop an action plan to ensure compliance with all new disclosure requirements.

About our presenters:

Terry Halfman, CPA
Halfman has more than 19 years of experience assisting businesses with accounting and business issues. She is a regional specialist in managing employee benefit plan audit engagements and serves as a technical resource to numerous clients on issues related to benefit plans. Halfman's background includes assisting clients on accounting issues, internal controls, the implementation of new accounting standards, financial reporting issues, acquisitions and operational issues relating to employee benefit plans.

A Half-Century of Accounting Excellence

Fri, 01 Apr 2011 05:00:00 GMT

A Half-Century of Accounting Excellence

Clifton Gunderson Honored as 2011 Helios Apollo Awards Finalist

Fri, 25 Mar 2011 05:00:00 GMT

Media Contact:
Sada Kempf, Senior PR Associate
(920) 232-2230
Sada.Kempf@Cliftoncpa.com

ARLINGTON, Va. (March 25, 2011) - Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms, today announced it has been named a finalist for the 2011 Helios Apollo Awards, the premier awards program for recognizing employers in the Washington metropolitan region that invest in employee development initiatives that make an impact. Clifton Gunderson is one of four finalists in the Large Companies category.

"This year's finalists stand out as the D.C. region's best in executing impactful human capital management programs," said Kathy Albarado, President and CEO, Helios. "We congratulate Clifton Gunderson on being named a finalist and look forward to coming together in June to celebrate all the finalists."

Clifton Gunderson was selected as a finalist by an independent panel for its support of employee development initiatives and its ability to communicate the overall impact of these programs. Specifically, Clifton Gunderson was evaluated based on the following criteria:

Employee on-boarding process;
Opportunities for mentoring;
Innovative programs or opportunities to develop leadership skills through charitable community involvement; and
The impact of a program(s).

"Our goal at Clifton Gunderson is to create an environment where our employees are provided with the flexibility to maintain a healthy work life balance," said Patrick Byer, partner-in-charge of the firm's Greater Washington and Northern Virginia markets. "Our firm takes great pride in our human resource accomplishments and we are honored to be recognized as a finalist for the Helios Apollo Awards."

Helios will honor the finalists and announce the winners at the Apollo Awards breakfast ceremony on Wednesday, June 1, 2011 at the McLean Hilton in McLean, Va.

For the full list of finalists and event registration information, please visit www.helioshr.com/helios-hr-events/apollo-awards.

About Helios
Helios provides strategic human capital management solutions that drive operational performance and business goals through your most valuable asset - your people. With Helios, you gain a strategic business partner helping implement customized methodologies, processes and solutions that deliver a long-term impact. For more information, visit www.helioshr.com.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,900 professionals serving clients from 47 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International "Global Care" approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

Clifton Gunderson Honored with Best Place to Work Award

Mon, 07 Mar 2011 06:00:00 GMT

Media Contact:
Sada Kempf, Senior PR Associate
(920) 232-2230
Sada.Kempf@cliftoncpa.com

INDIANAPOLIS, Ind. (March 7, 2011) - Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms, today announced its Indianapolis office has been named as one of the 2011 Best Places to Work in Indiana. The awards program was created in 2006 and is a project of the Indiana Chamber of Commerce, BizVoice®, Inside INdiana Business, the Indiana Economic Development Corporation and Best Companies Group.

This statewide survey and awards program was designed to identify, recognize and honor the best places of employment in Indiana, benefiting the state's economy, its workforce and businesses. The 2011 Best Places to Work in Indiana list is made up of 34 companies in the small/medium-sized list (15-249 employees in the United States) and 36 companies in the large-sized list (250+ employees in the United States).

To be considered for participation, companies had to fulfill the following eligibility requirements:

Have at least 15 employees working in Indiana;
Be a for-profit or not-for-profit business or government entity;
Be a publicly or privately held business;
Have a facility in the state of Indiana; and
Must be in business a minimum of one year.

Companies from across the state entered the two-part process to determine the Best Places to Work in Indiana. The first part consisted of evaluating each nominated company's workplace policies, practices, and demographics. This part of the process was worth approximately 25% of the total evaluation. The second part consisted of an employee survey to measure the employee experience. This part of the process was worth approximately 75% of the total evaluation. The combined scores determined the top companies and the final ranking. Best Companies Group managed the overall registration and survey process in Indiana and also analyzed the data and used their expertise to determine the final rankings.

"Our goal at Clifton Gunderson is to create an environment where our employees are provided with the flexibility to maintain a healthy work life balance," said John Sauder, managing partner of the Indiana practice. "Our firm takes great pride in our human resource accomplishments and we are honored to be recognized by the Indiana Chamber of Commerce, BizVoice®, Inside INdiana Business, the Indiana Economic Development Corporation and Best Companies Group."

Clifton Gunderson will be recognized and honored at the 2011 Best Places to Work in Indiana Awards Dinner coordinated by the Indiana Chamber of Commerce on Thursday, May 5th. The final rankings will be announced at the event. In addition, all ranked companies will be featured in the May-June issue of the award-winning BizVoice® magazine.

For more information on the Best Places to Work in Indiana program, visit www.BestPlacestoWorkIN.com.

Silvia Masini Joins Clifton Gunderson as Chief Human Resource Officer

Wed, 23 Feb 2011 06:00:00 GMT

Media Contact:
Sada Kempf
Phone: (920) 232-2230
Sada.Kempf@cliftoncpa.com

MILWAUKEE, Wis. (February 23, 2011) - Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms, today announced Silvia Masini has joined the firm as Chief Human Resource Officer (CHRO).

Masini has more than 20 years of experience leading and working with organizations on the development, delivery and administration of human resource (HR) solutions. She has significant expertise in the areas of organizational change and functional design, HR talent assessment and development, and process improvement. Prior to joining Clifton Gunderson, Masini worked as managing director for Patina Solutions, located in Chicago, and as a partner with Mercer Consulting, the world's largest HR consulting firm, also based in Chicago, where she served as the Midwest Practice Leader for Mercer's HR Effectiveness Business and served on Mercer's Zone Business Leadership. In her role with Mercer Consulting, she consulted with many organizations large and small, to transform her clients' HR functions to be high performing, effective and efficient. Masini received her bachelor's degree from Northwestern University.

"We are thrilled Silvia has joined Clifton Gunderson. She has an impressive HR background, which will be a great addition to our firm," said Todd Craft, Chief Business Officer. "We are eager to leverage Silvia's HR knowledge and her significant expertise in organization alignment, talent management and development, recruiting and training. We are confident Silvia's expertise will position her to make significant contributions to advancing the commitment to our people across our firm."

Clifton Gunderson Partners with Intacct and CPA2Biz to Leverage Cloud Solutions in its Accounting and Consulting Practices

Wed, 23 Feb 2011 06:00:00 GMT

Media Contact:
Sada Kempf, Senior PR Associate
(920) 232-2230
Sada.Kempf@cliftoncpa.com

MILWAUKEE, Wis. (February 23, 2011) - Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms, today announced it has partnered with Intacct, a leader in cloud financial management and accounting applications, and CPA2Biz, a subsidiary of the American Institute of Certified Public Accountants (AICPA). Clifton Gunderson, which has for many years offered on-premises accounting products from Deltek, Microsoft, Sage and others, is now adding Intacct's cloud applications to its portfolio. The firm views the cloud as the future of accounting and financial management systems.

Clifton Gunderson is active in every major industry, but plans to initially focus its Intacct technology consulting practice on professional services businesses, project-based companies and nonprofit organizations. Intacct's web-based applications are particularly well suited for these industries, enabling them to improve productivity, reduce costs and speed growth - all while delivering the highest value, lowest risk and best customer satisfaction.

Clifton Gunderson has also joined the Intacct Accountants Program from CPA2Biz. As part of the program, the firm will also utilize Intacct within its business process outsourcing practice which offers accounting services for small and medium sized businesses. Using Intacct Accountant Edition, both firm staff and their clients share real-time access to the client's financial information over the Internet, anytime and from anywhere. This collaborative, 24/7 financial visibility will enable Clifton Gunderson to increase collaboration with its clients to improve their financial performance, deliver better financial advice and help them to make faster, smarter business decisions.

"Many of our clients and prospects have multiple locations and remote workers who require anytime, anywhere access to financial information. To better serve them, we knew we needed to expand our application portfolio to include a cloud-based system," said Mickey Scheffki, partner and director of technology consulting at Clifton Gunderson. "We surveyed the market for the most innovative, cost effective and industrial-strength products. After an extensive evaluation, we found that Intacct fit the bill perfectly. We also found it compelling that we could utilize Intacct both in our consulting practices and for our outsourced accounting services."

There are significant benefits to standardizing on Intacct across both consulting and outsourced accounting services for CPA and consulting firms like Clifton Gunderson. Intacct offers deep, award-winning multi-entity financial management, fund accounting, project accounting and revenue management functionality at a fraction of the cost and risk of traditional on-premises financial software. Intacct's flexible architecture and visual development tools also enable these firms to individualize, extend and integrate the system to meet the unique needs of any client.

The Intacct Business Partner Program enables companies like Clifton Gunderson to gain new recurring revenue streams, while delivering improved services and enhanced product offerings to clients. As part of the program, Intacct provides extensive training, marketing and sales support, as well as assistance developing new applications and new vertical solutions.

The Intacct Accountants Program from CPA2Biz also delivers key benefits to member firms, including special discounted-per-client pricing for Intacct Accountant Edition, free training, dedicated partner technical support, plus implementation, sales and marketing assistance. In addition, AICPA member firms that join the program may use Intacct internally to manage the firm's business at no charge.

"Our Intacct Accountants Program continues to attract leading firms. It certainly sends a strong signal within the profession when a visionary firm like Clifton Gunderson expands its use of cloud computing to deliver even better service to their clients," said Erik Asgeirsson, president and CEO of CPA2Biz. "The cloud creates many unique opportunities for firms, like greater synergies across practice areas. We're working with a number of firms who envision their Consulting Services Practice as a powerful lead source for their Outsourced CFO Practice under a cloud model."

"We talked to many of the cloud financial management and accounting vendors, but Intacct's partner programs were by far the best from our perspective," added Scheffki. "Intacct provides the ability to better serve our existing clients and also open up new growth opportunities with prospects we would not have been able to serve in the past. Intacct has also made a major commitment to helping its channel partners succeed and we liked Intacct's strong ties to the AICPA and CPA 2Biz. The combination of these factors made partnering with Intacct an easy decision for us."

"This is the epitome of a win-win-win for Intacct, Clifton Gunderson and businesses nationwide," said Taylor Macdonald, vice president of channels at Intacct. "Intacct gains yet another top national CPA firm with significant domain expertise as a strategic partner. At the same time, Clifton Gunderson gains significant expansion opportunities and greater operating efficiencies, while its clients get access to the leading best-of-breed cloud accounting and financial management system. We expect this to be a partnership that delivers huge benefits across the board."

About CPA2Biz
CPA2Biz, a subsidiary of the American Institute of Certified Public Accountants (AICPA), provides marketing and technology services to the AICPA for its wide array of products and services. CPA2Biz also develops and manages client-focused business solutions programs (e.g. payroll, bill management) that enable CPAs to build stronger relationships with their business clients or employers. For more information, visit www.cpa2biz.com.

About Intacct
Intacct is a market and technology leader in web-based financial management and accounting applications for businesses and CPA firms. Bringing cloud computing to finance and accounting, Intacct's award-winning applications are the preferred financial applications for AICPA business solutions. Intacct applications are used by thousands of businesses from startups to public companies and are designed to improve company performance and make finance more productive. The Intacct system includes accounting, contract management, revenue recognition, inventory, purchasing, vendor management, financial consolidation and financial reporting applications, all delivered over the Internet via cloud computing. For more information, please visit www.intacct.com.

Edward Mazur Receives Private Sector Financial Excellence Award from the Association of Government Accountants

Fri, 18 Feb 2011 06:00:00 GMT

Media Contact:
Sada Kempf, Senior PR Associate
(920) 232-2230
Sada.Kempf@cliftoncpa.com

RICHMOND, Va. (February 18, 2011) - Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms, is pleased to announce Edward J. Mazur has received the prestigious Private Sector Financial Excellence Award from the Association of Government Accountants (AGA). Mazur was presented the award at the Association's 9th Annual National Leadership Conference in Washington, D.C.

The Private Sector Financial Excellence Award was formally established to recognize financial executives in the private sector who exemplify and promote excellence in state or local government financial management, outstanding leadership, high ethical standards and innovative management techniques. The award was made in recognition of Mazur's scholarly and timely authorship of a major, three-volume report titled, "Intergovernmental Financial Dependency and Related Risks," which acknowledges the extraordinary dependency of state and local governments on the federal government and on each other. The Report encourages and guides the reporting of information concerning such dependency and related risks within audited, comprehensive annual financial reports of our country's state and local governments.

The Report, first published in June 2009 by Cherry, Bekaert & Holland, was initiated by Mazur to give greater visibility to the significance, materiality and risks associated with the provision of direct resource flows from one level of government to another and to the indirect resource flows that come about when one level of government procures goods and services or makes direct compensation, benefit and/or social insurance payments to individual resident within the jurisdiction of a state or local government.

Based on an interest in the on-going financial condition of governments at all levels, stemming from his service in the Washington office of the American Institute of Certified Public Accountants in the mid- 1970's, through his work as State Comptroller of Virginia, as Controller of OMB's Office of Federal Financial Management, and as a member of the Governmental Accounting Standards Board, Mazur developed a heightened concern with how the fiscal health of one level of government might eventually impact the financial condition of other levels of government, and this concern led to the authorship of the above noted Report.

Mazur has more than 30 years of state and local government financial management experience. He is a Certified Public Accountant and holds a bachelor's degree from the University Connecticut and a master's degree from the Wharton School of the University of Pennsylvania.

About the AGA
AGA is the premier Association in advancing government accountability. We support the careers and professional development of government financial professionals working in federal, state and local governments as well as the private sector and academia. Founded in 1950, AGA has a long history as a thought leader for the government accountability profession. Through education, research, publications, certification and conferences, AGA promotes transparency and accountability in government. For more information about the AGA, visit www.agacgfm.org.

Bill Schenkelberg Joins Clifton Gunderson as National State & Local Tax Director

Wed, 09 Feb 2011 06:00:00 GMT

Media Contact:
Sada Kempf, Senior PR Associate
Phone: (920) 232-2230
Sada.Kempf@cliftoncpa.com

MILWAUKEE, Wis. (February 9, 2011) - Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms, today announced William Schenkelberg has joined the firm as the National State and Local Tax (SALT) Director.

Schenkelberg has more than 15 years of SALT experience, working in all areas of state and local tax but primarily focused on income and franchise tax and sales and use tax issues. He specializes in assisting clients with managing and minimizing their multi-state tax burden. Schenkelberg will be responsible for continuing the development of the firm's overall SALT niche specialization and will leverage his expertise across the firm to assist clients with their SALT needs. Prior to joining Clifton Gunderson, Schenkelberg worked as SALT practice leader for Grant Thornton's Wisconsin practice.

"We are thrilled Bill has joined Clifton Gunderson. He has an impressive SALT background, which will be a great benefit to our firm," said Steve Schamberger, national partner-in-charge of tax operations. "We are eager to leverage Bill's knowledge and expertise in Wisconsin and across the firm."

Schenkelberg received his bachelor's degree in accounting from the University of Iowa and is a Certified Public Accountant. He is a member of the American Institute of Certified Public Accountants and is the school board president for St. Dominic Catholic School in Brookfield.

Clifton Gunderson Presents Free Webcast on Employee Benefit Plan Reporting

Mon, 24 Jan 2011 06:00:00 GMT

Media Contact:
Sada Kempf, Senior PR Associate
(920) 232-2230
Sada.Kempf@cliftoncpa.com

MILWAUKEE, Wis. (January 24, 2011) -"Employee Benefit Plan Reporting - What Every Plan Administrator Should Know" is the title of a free online webcast to be presented by Clifton Gunderson - ranked as one of the nation's largest certified public accounting and consulting firms - on February 16, 2011. Join Employee Benefit Plan experts Marie Caputo, Michele Chalmers, and Mickie Murphy as they address new regulations, reporting requirements and updated accounting standards that await employee benefit plan administrators in 2011.

The one-hour webcast will be presented on Wednesday, February 16th at 1:00 p.m. Central Time (2:00 p.m. Eastern Time, 12:00 p.m. Mountain Time). Registration is required at www.cliftoncpa.com/events. For questions about the event, please contact Brittany Korth at (309) 495-8769 or Brittany.Korth@cliftoncpa.com. One CPE credit is available.

After participating in this event, attendees will be able to:

Identify new methods for reporting loans to participants by defined contribution plans
Recognize your fiduciary responsibility regarding third party service providers
Locate existing signing credentials, view signed 5500s and error messages
Interpret 2010 Form 5500 changes

About our presenters:

Marie Caputo, CPA
Caputo is a partner and leader of Clifton Gunderson's national Employee Benefit Plan Services Team. She has more than 19 years of experience and specializes in employee benefit plan audits.

Michele Chalmers, CPA
Chalmers is a senior manager and leader of the Mid-Atlantic region's employee benefit plan services team. With more than 10 years of experience, she specializes in providing auditing and accounting services for employee benefit plans, specifically planning and supervising 401K plans, 403(b) plans, health and welfare plans, and pension plans. Chalmers oversees the annual audits of more than 45 employee benefit plans.

Clifton Gunderson Acquires Meyners + Co.

Fri, 07 Jan 2011 06:00:00 GMT

Clifton Gunderson Acquires Meyners + Co.

Clifton Gunderson Acquires Albuquerque-Based Meyners + Co.

Fri, 07 Jan 2011 06:00:00 GMT

Media Contact:
Jennifer Dirks, Director of Communications
(414) 721-7646
Jennifer.Dirks@cliftoncpa.com

MILWAUKEE, Wis. (January 7, 2011) - Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms, today announced it has acquired Meyners + Co.- a certified public accounting firm based in Albuquerque, New Mexico. The acquisition is effective January 1, 2011.

"We are excited with the many growth opportunities the acquisition of Meyners + Co. provides our firm, our clients and our future clients," said CEO Kris McMasters. "For 50 years, our firm has been providing high quality, exceptional service to our clients, built on a foundation of strong core values - qualities which have remained constant over the last five decades. We are eager to combine these strengths with Meyners + Co. to further expand our presence in Albuquerque and help our clients grow and prosper in the future."

For more than 25 years, Meyners + Co. has served clients in the Albuquerque business community. It is a full-service firm with strong assurance, tax and general business consulting practices. The firm's experts provide service to clients in a number of industries - including significant expertise within the public sector arena.

Through this combination, five partners will join Clifton Gunderson including Cathy Brown, Ben Darwin, Brandon Haines, Georgie Ortiz and Patrick Wilkins, in addition to 58 Meyners + Co. employees.

"With Clifton Gunderson's strong presence across the country, this combination will allow us to expand our existing assurance and tax practices and support our desire to grow in additional strategic services," said Georgie Ortiz, Meyners + Co. partner. "We are excited about the tremendous network of resources offered by Clifton Gunderson, which will enhance the opportunities to serve our clients' needs as well as provide great opportunities for our professionals."

This is the seventh merger and acquisition announcement for Clifton Gunderson since May 2010 and the second acquisition of the New Year. Just last month, Clifton Gunderson announced the acquisition of Durkin Forensic, Inc. located in Los Angeles, Cal. effective January 1, 2011. In 2010, the firm announced it had acquired St. Louis, Mo.-based Humes & Barrington, Philadelphia, Penn.-based Stockton Bates, Evanston, Ill.-based U.S. Tax Advantage, the former BKD office in Merrillville, Ind., and Farrell & Associates in Rockford, Ill. Combined, the seven mergers and acquisitions account for more than 200 new employees and six new geographic locations for Clifton Gunderson.

"Our recent merger and acquisition activity directly aligns with our aggressive strategy to grow our business, increase our geographic footprint and expand the resources and expertise we provide to our clients and future clients. Our most recent acquisition of Meyners + Co. provides us a great opportunity to better serve the needs of our clients in Albuquerque and across the country," said McMasters.

Walker Outlines Business Tax Cut

Wed, 05 Jan 2011 06:00:00 GMT

Walker Outlines Business Tax Cut

Clifton Gunderson Acquires Los Angeles-Based Durkin Forensic, Inc.

Wed, 22 Dec 2010 06:00:00 GMT

Media Contact:
Jen Dirks, Director of Communications
(414) 690-5578
Jennifer.Dirks@cliftoncpa.com

MILWAUKEE, Wis. (December 22, 2010) - Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms, today announced it has acquired Durkin Forensic, Inc. - a forensic accounting firm based in Los Angeles, Calif., focusing on fraud and fraud-related issues. The acquisition is effective January 1, 2011.

"Durkin Forensic is a nationally-recognized firm and its experts have earned a solid reputation for providing quality work and expertise within the forensic accounting and fraud investigation arenas. We look forward to combining these talents with our national Valuation and Forensic resources and expertise to further expand our capabilities in this practice area," said CEO Kris McMasters.

Through this combination, Ronald Durkin will join Clifton Gunderson as partner and its National Practice Leader of Fraud and Misconduct Investigations. Durkin has more than 35 years of forensic investigation and bankruptcy experience - including more than 10 years as a special agent with the FBI. He founded Durkin Forensic, Inc. in 2008, and will continue to play an integral leadership role within Clifton Gunderson's Valuation and Forensic Services (VFS) practice in building business for the combined firms.

"Ron has diverse fraud and forensic experience and a demonstrated track record of providing outstanding quality service to clients and referral sources. These qualities will be great additions as we work to grow our firm for the future," said Yassir Karam, Managing Partner of the firm's VFS practice. "We are eager to leverage Ron's experience and leadership to further enhance and develop our VFS practice."

In addition, all Durkin Forensic professionals will join Clifton Gunderson.

"We are excited about the tremendous network of resources offered by Clifton Gunderson," said Durkin. "With Clifton Gunderson's strong national presence and its valuation and forensic expertise across the country, joining our two firms provides us the opportunity to enhance the value we provide to our clients and referral sources."

This is the sixth merger and acquisition announcement for Clifton Gunderson since May 2010. Earlier this year, the firm announced it had acquired St. Louis, Mo.-based Humes & Barrington, Philadelphia, Penn.-based Stockton Bates, Evanston, Ill.-based U.S. Tax Advantage, the former BKD office in Merrillville, Ind., and most recently, Farrell & Associates in Rockford, Ill. Combined the six mergers and acquisitions account for 136 new employees and six new geographic locations for Clifton Gunderson.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,700 professionals serving clients from 47 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International "Global Care" approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

Clifton Gunderson Honored with Phoenix Business Journal Best Place to Work Award

Wed, 15 Dec 2010 06:00:00 GMT

Media Contact:
Sada Kempf, Senior PR Associate
(920) 232-2230
Sada.Kempf@Cliftoncpa.com

PHOENIX, Ariz. (December 15, 2010) - Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms, today announced its Phoenix office has been named a winner of the Phoenix Business Journal's 2010 Best Places to Work.

"Our goal at Clifton Gunderson is to create an environment our employees want to be a part of by providing excellent opportunities and experiences for career development while working side-by-side with talented professionals serving our growing client base," said Rick Goldenson, managing partner of Clifton Gunderson's Southwest practice. "This is an outstanding achievement for the Phoenix office, the Southwest practice, and our entire firm. Our employees should be commended and congratulated on their efforts."

In alignment to the firm's mission statement "Growth of our people. Growth of our clients. All else follows.", Clifton Gunderson's human resource practices are designed to provide coaching, recognition, career development and rewards to keep their workforce engaged.

The Phoenix Business Journal's Best Places to Work event honored 137 Phoenix-area companies in five categories for their work in providing employees with solid foundations.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,700 professionals serving clients from 47 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International "Global Care" approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

Clifton Gunderson to Relocate Firm Headquarters to New Location

Thu, 02 Dec 2010 06:00:00 GMT

New Location to Accommodate Expansion of Milwaukee Headquarters and Practice Office

Media Contact:
Jen Dirks, Director of Communications
(414) 721-7646
Jennifer.Dirks@cliftoncpa.com

MILWAUKEE, Wis. (December 2, 2010) - Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms, today announced it will relocate its firm headquarters to a new location. Effective May 1, 2011, Clifton Gunderson will become a new tenant at Mayfair Woods Business & Technology Center, 10700 Research Drive, Milwaukee, Wisconsin. The new location will accommodate the expansion of Clifton Gunderson's firm headquarters as well as its Milwaukee practice office.

"Our decision to relocate firm headquarters and our Milwaukee practice office to this new location is in direct response to our growing presence in the Milwaukee business community," said Todd Craft, Chief Business Officer. "Mayfair Woods will accommodate our expanding personnel and firm resource needs and is convenient and central to our employees and clients. Our commitment to the Milwaukee community is further evidenced by this move and we look forward to continuing to provide our expertise to support the ever growing needs of our clients."

The firm will relocate its employees to the second floor of the new Mayfair Woods location. Since 2003, Clifton Gunderson has occupied office space at 10001 Innovation Drive, Milwaukee, Wisconsin. Mayfair Woods is owned and operated by Irgens Development Partners, LLC. The 10.8-acre Mayfair Woods site is located within the Milwaukee County Research Park. The modern five-story building conforms to the land and compliments the existing topography. The property has also been awarded LEED-CS Silver Certification for its focus on sustainable design principles.

"We are excited to welcome Clifton Gunderson as a business partner and tenant in our Mayfair Woods location," said Jaclynn Walsh, a principal with Irgens Development Partners, LLC. "We have enjoyed our working relationship with Clifton Gunderson and look forward to our future partnership."

Clifton Gunderson has been serving the Milwaukee-area community since 1984. During its 27 year history, the office has grown to more than 120 professionals. In 2009, the firm announced the relocation of its firm headquarters from Peoria, Illinois to Milwaukee, Wisconsin. Clifton Gunderson provides a wide range of assurance, tax, financial planning and consulting solutions to more than 2,500 clients in its Wisconsin practice. The firm has client-serving locations throughout the state including: Madison, Marshfield, Oshkosh, Racine, Sheboygan, Sparta, Stevens Point and Tomah. Including Wisconsin, the firm has a strong national presence serving clients in 47 offices across the country with a staff of more than 1,700 professionals.

"We have developed a solid reputation with our clients as the firm of choice," said Mark Williams, managing partner of Clifton Gunderson's Wisconsin practice. "We are confident our decision to relocate firm headquarters and our Milwaukee practice to this new location will further enhance that reputation and our commitment to our clients and prospective clients."

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,700 professionals serving clients from 47 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International "Global Care" approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

Clifton Gunderson Relocating Headquarters Within Tosa's Research Park

Thu, 02 Dec 2010 06:00:00 GMT

Clifton Gunderson Relocating headquarters within Tosa's Research Park

Clifton Gunderson to Move, Grow HQ Offices

Thu, 02 Dec 2010 06:00:00 GMT

Clifton Gunderson to Move, Grow HQ Offices

Clifton Gunderson to Move HQ to Mayfair Woods

Thu, 02 Dec 2010 06:00:00 GMT

Clifton Gunderson to Move HQ to Mayfair Woods

How Future Revenue Recognition Changes Will Affect the Building, Construction Industry

Tue, 23 Nov 2010 06:00:00 GMT

How Future Revenue Recognition Changes Will Affect the Building, Construction Industry

GOP Will Move Quickly on Tax Cuts

Sat, 06 Nov 2010 05:00:00 GMT

GOP Will Move Quickly on Tax Cuts

Clifton Gunderson Celebrates 50th Anniversary

Tue, 02 Nov 2010 05:00:00 GMT

Media Contact:
Jennifer Dirks, Director of Communications
(414) 721-7646
Jennifer.Dirks@cliftoncpa.com

MILWAUKEE, Wis. (November 2, 2010) - Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms, celebrates its 50th Anniversary. On November 1, 1960, four partners Neil Clifton, Merle Gunderson, Robert Coker and Joseph DeBruyn formed the certified public accounting firm of Clifton, Gunderson, Coker and DeBruyn. Within the first year, the firm grew to 13 employees. The firm's first office was located in Peoria, Illinois, which served as firm headquarters until June 2009 when the firm relocated its headquarters to Milwaukee, Wisconsin.

"We are a firm committed to the growth of our people and the growth of our clients - a simple philosophy, but one that has remained unchanged throughout our 50 year history," said Kris McMasters, CEO. "Our culture of high quality, proactive services to clients and our focus on the development and growth of our people are significant factors in our success throughout the years."

In 1970, the firm's name was officially shortened to Clifton, Gunderson and Company, and eventually to Clifton Gunderson LLP in 2001. While maintaining its Midwestern roots, the firm has expanded nationally to 21 states across the country. The firm now serves clients from 46 offices, with 214 partners and a staff of more than 1,500 professionals.

"We achieved steady and significant growth throughout our 50 years in business. Our firm billed $256,000 in 1960 and we are projecting $273 million in 2011," said McMasters. "Staying focused on our culture, and our trusted business advisor approach to meeting client needs, as well as the strong relationships we establish with clients, has led to this incredible growth pattern."

McMasters added, Clifton Gunderson has differentiated itself from others within the accounting profession over the years by focusing on its people. The firm's mission statement reads "Growth of our people. Growth of our clients. All else follows". Armed with innovative career development programs, a strong work-life balance philosophy, recognition as one of the country's best places to work, Clifton Gunderson's business model is a more attractive option to current and prospective employees. Clients benefit from being served by accomplished professionals who have the insight and experience to help them succeed in today's competitive and dynamic business environment.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,900 professionals serving clients from 46 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International "Global Care" approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

Clifton Gunderson Acquires Rockford, Ill. Accounting Firm

Fri, 29 Oct 2010 05:00:00 GMT

Clifton Gunderson Acquires Rockford, Ill. Accounting Firm

Clifton Gunderson Acquires Rockford-based Farrell & Associates

Fri, 29 Oct 2010 05:00:00 GMT

Media Contact:
Jennifer Dirks, Director of Communications
(414) 721-7646
Jennifer.Dirks@cliftoncpa.com

MILWAUKEE, Wis. (October 29, 2010) - Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms, today announced it has acquired Farrell & Associates - a full-service Certified Public Accounting firm based in Rockford, Illinois. The Rockford location joins Clifton Gunderson's Illinois practice with nine offices in Champaign, Danville, Dixon, Evanston, Joliet, Oak Brook, Peoria, Princeton and Sterling. Managing Partner Steve DeBruyn and Partner-in-Charge Todd Etheridge will lead the new Rockford office. The acquisition of Farrell & Associates is effective November 1, 2010.

"Securing a presence within the Rockford market allows us to enter a new market in Northern Illinois, which is closely located to our Dixon, Princeton and Sterling offices as well as the greater Chicagoland area," said CEO Kris McMasters. "Since 1960, we've had a strong presence and leadership throughout each of our Illinois offices. We are excited about the many growth opportunities the joining of our two firms means to our clients and our future clients."

Farrell & Associates has earned a solid reputation with its clients within the Rockford and surrounding communities for quality service and expertise. As a full-service firm with a strong tax and assurance practice, its experts serve clients in a number of industries including manufacturing, wholesale distribution, construction and real estate, and healthcare.

Through this combination, three Farrell & Associates' partners including Robert Farrell, Michael Abrahams, Michele Reagan will join Clifton Gunderson as partners. In addition to these partners, 15 Farrell & Associates' professionals will also join the firm. Farrell, who has been an active member of the Rockford business community for 28 years and founded Farrell & Associates in 2002, will continue to play an integral leadership role within the Rockford office and building business for the combined firms.

"With Clifton Gunderson's strong presence across the country, joining our firm with Clifton Gunderson will allow us to expand our tax and accounting services and supports our desire to grow in additional strategic services," said Farrell. "We are excited about the tremendous network of resources offered by Clifton Gunderson, which will enhance the opportunities to serve our clients' needs of tomorrow."

Clifton Gunderson started in business in Illinois in 1960. During its 50 year history, the Illinois practice has grown to more than 400 partners and professionals providing a wide range of assurance, accounting, tax, entrepreneurial business, wealth management, and valuation and forensics services to its clients.

This is the fifth merger and acquisition announcement for Clifton Gunderson since May 2010. Earlier this year, the firm announced it had acquired St. Louis, Missouri-based Humes & Barrington, Philadelphia, Pennsylvania-based Stockton Bates, Evanston, Illinois-based U.S. Tax Advantage and the former BKD office in Merrillville, Indiana.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,900 professionals serving clients from 46 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International "Global Care" approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

Great Recession Drives Accounting Firms Into Each Other's Arms

Mon, 18 Oct 2010 05:00:00 GMT

Great Recession drives accounting firms into each other's arms

Clifton Gunderson Presents Free Webinar “Estate Planning Valuation Issues – Identify Risks to Protect Clients”

Fri, 15 Oct 2010 05:00:00 GMT

Media Contact:
Sada Kempf, Senior PR Associate
(920) 232-2230
Sada.Kempf@cliftoncpa.com

MILWAUKEE, Wis. (October 15, 2010) - "Estate Planning Valuation Issues - Identify Risks to Protect Clients" is the title of a free online Webinar to be presented by Clifton Gunderson - ranked as one of the nation's largest certified public accounting and consulting firms - on November 17, 2010. Join valuation expert Timothy Muehler as he discusses how key assumptions can dramatically impact the value of a company; the dangers of "value formulas" in buy-sell agreements; and what pre-sale issues must be addressed before going to market.

The one-hour Webinar will be presented on Wednesday, November 17; at 1:00 p.m. Central Time. Click here to register. For questions about the event, please contact Kathy Kiedrowski at (608) 662-8679 or Kathy.Kiedrowski@cliftoncpa.com. One CLE credit is available.

Valuation issues to be presented during this complimentary Webinar include:

Key valuation drivers
Methodologies to value the company
Buy-sell issues related to the valuation
Pre-sale issues
Supporting the transaction

About our presenter:

Timothy Muehler, CPA/ABV, CVA
Muehler is a partner with Clifton Gunderson and has more than 17 years of public accounting experience, including 14 years of business valuation work. He specializes in business valuation, individual and fiduciary tax planning and consultation, including acquisitions and mergers, and estate planning. He also has experience with a wide variety of litigation support engagements. Mueller is a Certified Public Accountant, Accredited in Business Valuation, and a Certified Valuation Analyst. He also received the Certificate of Educational Achievement in Business Valuation from the American Institute of Certified Public Accountants.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,900 professionals serving clients from 46 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International "Global Care" approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

Businesses Want Answer on Status of Tax Cuts

Fri, 15 Oct 2010 05:00:00 GMT

Businesses want answer on status of tax cuts

Clifton Gunderson Awarded Prestigious Alfred P. Sloan Award for Workplace Flexibility and Effectiveness

Tue, 12 Oct 2010 05:00:00 GMT

Media Contact:
Sada Kempf, Senior PR Associate
(920) 232-2230
Sada.Kempf@Cliftoncpa.com

MILWAUKEE, Wis. (October 12, 2010) - Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms, today announced its Phoenix, Ariz. and Milwaukee offices have been named a winner of the 2010 Alfred P. Sloan Award for Business Excellence in Workplace Flexibility. The award distinguishes the firm as a leading practitioner of workplace flexibility in Phoenix, Milwaukee and across the nation.

"Our goal at Clifton Gunderson is to create an environment where our employees are provided with the flexibility to maintain a healthy work life balance," said Rick Goldenson, Clifton Gunderson managing partner of the Southwest Client Service Center.

"Our firm takes great pride in our human resource accomplishments and we are honored to be recognized by The Alfred P. Sloan Foundation, Families and Work Institute, The Institute for a Competitive Workforce of the U.S. Chamber of Commerce and the Twiga Foundation," added Mark Williams, managing partner of the firm's Wisconsin practice.

The Alfred P. Sloan Awards for Business Excellence in Workplace Flexibility are part of the When Work Works project, an ongoing initiative of Families and Work Institute, the Institute for a Competitive Workforce (an affiliate of the U.S. Chamber of Commerce), and the Twiga Foundation. Through When Work Works, these partner organizations provide research, resources, and recognition to employers nationwide, and share the results of research on creating effective and flexible workplaces that meet the needs of the 21st century.

The National Alfred P. Sloan Awards for Business Excellence in Workplace Flexibility honor employers of all sizes and types that are using workplace flexibility as a strategy to increase workplace effectiveness, yield positive business results, and attract and retain top talent.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,900 professionals serving clients from 46 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International "Global Care" approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

Clifton Gunderson Presents Free Webinar “Alternative Investment Strategies for Not-for-Profits”

Mon, 11 Oct 2010 05:00:00 GMT

Media Contact:
Sada Kempf, Senior PR Associate
(920) 232-2230
Sada.Kempf@cliftoncpa.com

MILWAUKEE, Wis. (October 11, 2010) -"Alternative Investment Strategies for Not-for-Profits" is the title of a free online Webinar to be presented by Clifton Gunderson - ranked as one of the nation's largest certified public accounting and consulting firms - on October 28, 2010. Join Not-for-Profit experts Melissa Struck and Robert Nowak as they discuss the values and challenges Not-for-Profit organizations can face with alternative investments.

The one-hour Webinar will be presented on Thursday, October 28th; at 1:00 p.m. Central Time. Click here to register. For questions about the event, please contact Nicole Meeks at (715) 295-5418 or Nicole.Meeks@cliftoncpa.com. One CPE credit is available.

Key points to be presented during this complimentary online Webinar include:

The definition of alternative investments and how they are valued.
Management's responsibility when investing in alternative investment vehicles.
The auditor's role when an organization has invested in alternative investments.
Tax implications of investing in alternative investments.

About our presenters:

Melissa Struck, CPA
Melissa has more than 10 years of assurance experience. She has worked extensively with a wide range of not-for-profit organizations, including associations, social service agencies and foundations. Melissa is well versed in all aspects of the unique challenges faced by not-for-profits through her experience in the completion of financial statement audits, single audits and agreed-upon-procedures.

Robert Nowak, CPA, MST
Nowak is a partner in the firm's Oak Brook, Ill. office. He has more than 16 years of experience assisting businesses and individuals with tax matters in a variety of industries including Not-for-Profit organizations. Nowak has experience dealing with unrelated business income tax issues, excess benefit transactions and lobbying exposure analysis.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,900 professionals serving clients from 46 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International "Global Care" approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

Clifton Gunderson Presents Free Webinar “SAS 70 is Changing – Find Out How to Implement the New SSAE 16”

Fri, 08 Oct 2010 05:00:00 GMT

Media Contact:
Sada Kempf, Senior PR Associate
(920) 232-2230
Sada.Kempf@cliftoncpa.com

MILWAUKEE, Wis. (October 8, 2010) -"SAS 70 is Changing - Find out how to implement the new SSAE 16" is the title of a free online Webinar to be presented by Clifton Gunderson - ranked as one of the nation's largest certified public accounting and consulting firms - on October 27, 2010.

The one-hour Webinar will be presented on Wednesday, October 27th; at 1:00 p.m. Central Time. Click here to register. For questions about the event, please contact Brittany Korth at (309) 495-8769 or Brittany.Korth@cliftoncpa.com. One CPE credit is available.

After this Webinar, participants will be able to:

Describe the differences between SAS 70 and SSAE 16
Explain to your organization and subservice organizations what SSAE 16 means to them
Develop a list of what you should be doing now to prepare for the change

About our presenters:

George Fallon, CPA, CISA, CGFM
Fallon serves as an information technology partner in the firm's Mid-Atlantic region and also assists with other IT engagements throughout the firm. With more than 29 years of experience, he specializes in providing audit, SAS 70 consulting and IT applications services and has performed countless systems internal control reviews and reviewed numerous computer applications. This includes the performance of IT security assessments and reviews for federal and state agencies and private companies. In addition, he has reviewed security and data integrity controls operating under main frame, UNIX, and Windows operating systems.

Ronald Franke, CIA, CISA, CICA, CFE
Franke is a principal in the firm's IT Audit team. He has more than 29 years of audit, management, analysis, and IT experience in the state and federal government sectors. While with Clifton Gunderson, Franke has led a variety of engagements including IT security risk assessments, security reviews, SAS 70 audits, IT audits and performance audits, primarily in the government sector.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,900 professionals serving clients from 46 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International "Global Care" approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

Setting Blue Ribbon Standards for Private Companies

Sat, 25 Sep 2010 05:00:00 GMT

Setting Blue Ribbon Standards for Private Companies

What is Known, Unknown About Financial Reform Law

Fri, 24 Sep 2010 05:00:00 GMT

What is Known, Unknown About Financial Reform Law

Retirement Plan Compliance Check-Up – How to find operational defects, e-file and stay in compliance

Mon, 20 Sep 2010 05:00:00 GMT

Media Contact:
Sada Kempf, Senior PR Associate
(920) 232-2230
Sada.Kempf@cliftoncpa.com

MILWAUKEE, Wis. (September 20, 2010) -"Retirement Plan Compliance Check-Up - How to find operational defects, e-file and stay in compliance" is the title of a free online Webinar to be presented by Clifton Gunderson - ranked as one of the nation's largest certified public accounting and consulting firms - on October 12, 2010. Join Employee Benefit Plan Experts Terry Halfman and Mickie Murphy as they help organizations with protecting their qualified tax status and e-filing Form 5500.

The one-hour Webinar will be presented on Tuesday, October 12th; at 1:00 p.m. Central Time. Click here to register. For questions about the event, please contact Deana Mary at (888) 778-9588 or Deana.Mary@cliftoncpa.com. One CPE credit is available.

Key points to be presented during this complimentary online Webinar include:

How to identify common operational defects.
The risk of operational defects to qualified tax status.
Correction methods to address defects.
Processes and controls to help prevent defects.
Different methods for e-filing Form 5500.
Attachments and error messages for electronic filing.
How to verify receipt of Form 5500 by the DOL.
Due date for the new IRS Form 8955-SSA.
Targeted issues of a DOL or IRS plan audit.

About our presenters:

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,900 professionals serving clients from 46 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International "Global Care" approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

Tax Deduction Covers Cost of Greening

Fri, 17 Sep 2010 05:00:00 GMT

Tax Deduction Covers Cost of Greening

Business by Numbers

Mon, 13 Sep 2010 05:00:00 GMT

Ever wonder what the top four best practices are to tracking your company's financial metrics? Find out what advice Partner John Sauder offered up in a recent interview featured on MSN.com.

Companies Slowly Restore Slashed Pay - But Increases, Overall, are Modest at Best

Mon, 06 Sep 2010 05:00:00 GMT

Companies Slowly Restore Slashed Pay - But Increases, Overall, are Modest at Best

Taxes in 2011: Wearing Down Your Green

Wed, 01 Sep 2010 05:00:00 GMT

InBusiness Magazine. Kim Anderson Article

Clifton Gunderson Presents IT Oversight Webinar: “Six IT Management Strategies for Construction Companies”

Wed, 01 Sep 2010 05:00:00 GMT

Media Contact:
Sada Kempf, Senior PR Associate
920-232-2230
Sada.Kempf@cliftoncpa.com

MILWAUKEE, Wis. (September 1, 2010) – In a recent survey of executives by the IT Governance Institute, half of the executives indicated that IT is very important to their organization, yet noted that IT matters were discussed only on an ad hoc basis at the board level. This is surprising since stronger IT governance practices correlate strongly with better IT outcomes. With three-quarters of businesses surveyed believing they have barriers that prevent full IT investment returns, there’s never been a better time to look at the role that IT oversight can play in the corporate governance and success of construction companies.

“Six IT Management Strategies for Construction Companies” is the title of a Webinar presented by Clifton Gunderson and the Construction Finance Management Association (CFMA). This 60-minute Webinar will be presented on September 29, 2010 at 2:00 p.m. Central Daylight Time. Registration is free for CFMA members and $59.95 for non-members. Registration is required at http://www.prolibraries.com/cfma/?select=webinar_register. CFMA will be offering 1.0 CPE credits.

After attending this session, you will understand:

Where IT fits in the organizational chart
The role of IT in strategic planning and decision-making
Developing an integrated IT group
Security challenges and solutions
The role of IT in internal controls
Internal versus outsourced IT resources

The presenters:

Jeffrey T. Lemmermann, CPA, CITP, CISA, CEH, has more than 19 years of experience, and is the practice manager for IT Security in the Milwaukee, Wisconsin office of Clifton Gunderson. He specializes in assisting businesses with assessing and auditing information systems and information security. Additionally, he performs SAS70 audits, PCI compliance consulting and other engagements involving information systems and security. Lemmerman has written and contributed to a number of articles involving information security for publications that include the Wisconsin Institute of CPA's On Balance magazine and The Contractor's Business Management Report. He is also a speaker on information security topics for a number of organizations, including the UW-Green Bay Outreach Program, Marquette University, and the Associated General Contractors of America.

Rodney Almaraz, CPA, CISA, CIA, CISSP, has more than 17 years of experience and is a senior manager in the Austin, Texas office of Clifton Gunderson. His auditing experience is primarily in the information technology area. Almaraz is experienced in completing public audit reports and managing small to large audit teams. Past audit clients have included large state agencies, public universities and Fortune 500 companies to include compliance reviews of client-server, mainframe, network and web-facing technologies. Almaraz has participated as an AICPA CPA exam test question writer, and has spoke at various conferences.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,900 professionals serving clients from 46 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International “Global Care” approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

The Splash – Standing Up For Professional Change Leads to Personal Gain

Fri, 27 Aug 2010 05:00:00 GMT

An interview with Krista McMasters
Chief Executive Officer
Clifton Gunderson LLP
Milwaukee, Wis.

Krista McMasters was a young partner at Clifton Gunderson in the late 1980s when a more senior manager recommended that she seek a position on the Accounting Standards Executive Committee of their national trade association, the American Institute of Certified Public Accountants (AICPA). "Honestly, I did not want to do it. I didn't say it, but I felt like it would be over my head," McMasters said

"There are many things that I did that I wasn't comfortable with doing that I learned and gained so much from," she said.

In June 2009 she became the CEO of Clifton Gunderson, becoming the first and only female CEO within the nation's top 25 public accounting firms. She brings 30 years of experience at the company and a mission to develop more women leaders. In an interview with TFW; she shares some of her experiences as a standout in her field.

Show of confidence: McMasters had other offers on the table after graduating from college, but Clifton Gunderson was where she really wanted to work. She called partner Carl George directly to ask why she had not heard from him. Years later, George was the CEO and mentor who handed the reins to McMasters. In an AICPA video, he recalled that one of the reasons he hired her was because she had the moxie to make that call.

Problem solver: McMasters moved up from staff CPA to practice partner at a particular office. In that role, she recognized a need to increase centralization of the company's manual system. She credits that project for earning her a promotion to director of assurance services for the firm, which then led to another big project that changed Clifton Gunderson's human resource structure.

The right priorities: When McMasters voiced her concerns about the company's almost 30 percent turnover rate to the CEO in the late 1992, he asked her to write a strategic paper describing the problem and identifying possible solutions. The result was the HR initiative Priority One, which emphasized new recruiting, training and mentoring programs. Within three years, the turnover rate dropped to 15 percent. McMasters earned a promotion to chief practice officer.

Cultivating leaders: In 2008, she introduced a new program, WIN@CG: Women's Initiative Now, to significantly increase the number of women leaders within the firm, particularly at the partner level. Currently Clifton Gunderson's new hires are about 55 percent male, 45 percent female, yet just 14 percent of the company's partners are women - a figure slightly lower than the industry average. "We recognize it's a goal that is going to take time; it's really a culture we're changing. We also recognize that there are no silver bullets, just like with Priority One. There were many initiatives that we took on, and it's the same with the women's initiative," McMasters said.

What women need: Clifton Gunderson has a formal mentoring and coaching program and offers flexible work arrangements. However, a company-wide survey uncovered three areas that could use further improvement to help women move up. Women employees said they needed a better understanding of the expectations and requirements for promotion; more client development opportunities, and more ways in which to network.

Still learning and adapting: McMasters said the most important soft skills she has had to develop over the years have been listening and communicating. Technical people have a tendency to communicate in technical, detailed ways. I continue to learn ways to speak concisely and to make it real," she said "I've seen that if I provide feedback or indicate direction, everybody works very hard in that direction immediately. I've really learned to exercise caution in how I'm communicating, making sure I'm gathering information and understanding other priorities."

Advantages of being female: "I've had the same opportunities as anyone would have," McMasters said. "There were experiences earlier in my career where clients were potentially more comfortable with men than women, but I worked through those issues. If anything, I gained opportunities as a result of being a woman. It allowed me to get involved with national associations because there were fewer females available to bring diversity to the committees."

Faith in her abilities: Asked about the biggest factors that have contributed to her success, McMasters is quick to credit her company's leaders for making an investment in her, for putting her in positions that extended her skills initially, but allowed her to take on projects and run with them. "When I did the white paper on Priority One, they had the confidence to let me execute on those activities," she said. "I was also able to gain experience outside of our firm, to get perspective from many different places and bring the best of that back into the firm."

Inspiration: "You must do the thing you think you cannot do," Eleanor Roosevelt once said, and for McMasters, those are words to live by. She adds, "That's really how you grow and develop - I really believe in that. You have to take chances, take risks, do the best you can and gain experience from it."

Recently read: McMasters tends to switch between at least two books at a time on her Kindle, which lately included The Help by Kathryn Stockett, Wuthering Heights by Emily Bronte, and On the Brink: Inside the Race to Stop the Collapse of the Global Financial System by Henry M. Paulson.

Most influential person: McMasters says her mother shaped how she approaches her career and life: "She always gives her best at anything she does, and she demonstrated that through actions rather than words," she said.

Financial Reforms Send Shockwaves Through Banking Industry

Fri, 20 Aug 2010 05:00:00 GMT

Clifton Gunderson Presents Free Tax Webinar: "Structuring International Operations: Tax and Accounting Considerations"

Fri, 20 Aug 2010 05:00:00 GMT

Media Contact:
Sada Kempf
(920) 232-2230
Sada Kempf@cliftoncpa.com

MILWAUKEE, Wis. (August 20, 2010) – As the economy begins to pick up, companies are considering expansion options into the international area. Going international creates complexity when it comes to legal structure, reporting standards, compliance, transfer pricing and repatriation. “Structuring International Operations: Tax and Accounting Considerations” is the title of a free online Webinar to be presented by Clifton Gunderson – ranked as one of the nation’s largest certified public accounting and consulting firms – on September 22, 2010. During this Webinar, our tax and financial experts share best practices, planning and other international issues.

Key points to be presented during this free online Webinar include:
•   Basic legal/tax structures including fundamental tax considerations
•   How International Financial Reporting Standards affect domestic accounting
     and financial reporting
•   U.S. tax compliance requirements and penalties for non-compliance
•   Differentiate aspects of transfer pricing
•   Tax consequences and planning for repatriation

The 75-minute Webinar will be presented on Wednesday, September 22nd at 10:00 a.m. Central Time. Registration is required at www.cliftoncpa.com/resources/events. One Continuing Professional Education credit is available.

About our presenters:

Mark Gasbarra – Managing Partner of Global Tax Services
Gasbarra has 28 years experience of international tax experience serving the complex tax needs of Fortune 500 companies. Prior to joining Clifton Gunderson, Gasbarra formed U.S. Tax Advantage – an international tax consulting services firm – with the vision of creating a global tax services practice while leveraging the benefits of superior tax technology. Prior to forming USTA, Gasbarra was a senior international tax partner and national practice leader at two Big Four firms.

Bill Drimel – National Technical Partner, Assurance Services
Drimel has more than 30 years of public accounting experience. He develops Clifton Gunderson’s policies, procedures and tools related to assurance services based on the accounting and auditing pronouncements. Drimel has also assisted the American Institute of Certified Public Accountants in developing questions on International Financial Reporting Standards for the Uniform CPA Examination.

David Slemmer – National Director of Transfer Pricing Services
Slemmer has more than 13 years transfer pricing experience in the United States and Europe. He has conducted a wide variety of complex transfer pricing evaluation and planning projects for some of the world’s largest multinational companies.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,900 professionals serving clients from 46 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International “Global Care” approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

Clifton Gunderson Presents Complimentary Tax Webinar: "Five Tax Saving Ideas for 2010"

Tue, 10 Aug 2010 05:00:00 GMT

Media Contact:
Sada Kempf
(920) 232-2230
Sada.Kempfcliftoncpa.com

MILWAUKEE, Wis. (August 10, 2010) – “Five Tax Saving Ideas for 2010” is the title of a complimentary online Webinar to be presented by Clifton Gunderson – ranked as one of the nation’s largest certified public accounting and consulting firms – on August 26, 2010. Join tax and financial experts as they illustrate tax savings ideas you can act on for 2010. Throughout the session you will learn tips and solid strategies on unique opportunities for savings as current rates are set to increase after December 31, 2010 and new laws will undoubtedly be passed that will affect your taxes.

Key points to be presented during this complimentary online Webinar include:
•   Accelerating income into 2010
•   Planning for increased labor costs beyond 2010
•   Converting to a Roth IRA in 2010
•   Adjusting your portfolio in response to higher taxes after 2010
•   Techniques to reduce or even zero –out your taxable wealth transfer

The one-hour Webinar will be presented on Thursday, August 26th at 10:00 a.m. Central Time. Registration is required at www.cliftoncpa.com/resources/events.

About our presenters:

Jamey Rappis
Rappis is one of the leaders of Clifton Gunderson’s Private Tax consulting practice, and serves as the firm’s leader of the IRS Rulings and Procedure niche. He has extensive experience in the areas of estate & gift tax, estate & business succession planning, and retirement planning. Jamey leads the Private Tax consulting practice leveraging his tax and estate planning expertise across the firm to high net worth families and individuals. He is Clifton Gudnderson’s lead in reviewing and monitoring legislative, regulatory, and case law activity an is responsible for providing a national tax presence on high level tax consulting with new prospects and current clients in the areas of estate planning and business succession planning. With more than 17 years of experience, Jamey is a licensed attorney and has an extensive background with a specific emphasis on IRS controversies, including field, appellate and tax court audit levels. Jamey has been involved in hundreds of IRS controversies, on both the side of the taxpayer and the government.

Jeffrey R. Secord, CFP®
Secord serves as managing director for the Downstate Illinois practice and is located in the Peoria, Illinois, office. With more than 33 years of experience in the financial services industry, Secord’s area of expertise includes retirement income distributions, financial education, personal financial planning, investment planning, risk management, small business planning and qualified retirement plans.

John P. Lehman, CPA
Lehman is the partner in charge of the Peoria, Illinois office. With more than 25 years of experience, he specializes in providing the following services: tax and financial planning, business succession planning, estate and gift tax planning, retirement planning, and income tax compliance including tax planning issues specifically relating to the minimization of unrelated business income tax, choice of entity – for-profit vs. not-for-profit, and preservation of tax-exempt status. Lehman also has significant experience with income tax planning and preparation for individuals, partnerships, limited liability companies, fiduciaries and corporations. He is a Certified Public Accountant and a member of the Illinois CPA Society and the American Institute of Certified Public Accountants.

Kevin Wadle, CPA
Wadle is a senior tax manager in the Peoria, Illinois office. With more than 30 years of experience, he specializes in providing the following services: tax and financial planning; estate and gift tax planning; income tax compliance; and qualified and non-qualified benefit plans including representation in front of the IRS and DOL, and assistance in maintaining the tax status of benefit plans. Wadle also has significant experience with income tax planning and preparation for individuals, partnerships, limited liability companies, fiduciaries and corporations. He is a Certified Public Accountant and a member of the Illinois CPA Society and the American Institute of Certified Public Accountants.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,900 professionals serving clients from 46 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International “Global Care” approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

ARRA Accountability and the Single Audit

Fri, 30 Jul 2010 05:00:00 GMT

Federal grants have always come with strings attached. With funds accepted through the American Recovery and Reinvestment Act (ARRA), the strings are even longer and more entangled than usual. Business advisors everywhere have been quick to alert state agencies, local governments, not-for-profit organizations and federal contractors that “business as usual” is no longer the norm when it comes to ARRA funds. Strict new reporting and compliance obligations are waiting just on the other side of the dotted line.

Long-time and prospective grant recipients have inherited the burden of examining and updating virtually every aspect of business operations to accommodate the new realities of government-mandated accountability and transparency. In light of these new requirements, organizations must approach federal grants with a new appreciation for what it takes to do business with the federal government. Not taking the time to update business processes and internal control structures will be disastrous.

Back to the Beginning

ARRA was enacted in February 2009 as a major government effort to jumpstart the economy and save or create jobs. Determined not to overly expose itself to the fraud and mismanagement that could accompany this unprecedented stimulus effort, Congress and the administration mandated levels of transparency and accountability beyond any other regulation.

Among the new measures is a Web site, www.recovery.org, where citizens can monitor how much money is being spent, where it is being spent and on what programs. The site also reports how many jobs have been created by specific funding projects. The goal is to give taxpayers a picture of where their money is going, without “interpretation” by government agencies.

ARRA also established the Recover and Accountability Transparency Board (RATB), which is charged with coordinating oversight of funds covered by ARRA to prevent fraud, waste and abuse. The board will conduct independent audits and reviews of government agencies handling Recovery Act funds, and is given the power to hold public hearings and subpoena nongovernment individuals to present testimony. In addition, other oversight agencies such as the Office of Management and Budget (OMB) and Government Accountability Office (GAO) have increased the resources they have available to monitor federal dollars.

The Single Audit Process

To anyone new to the federal funding game, this may all seem costly and extremely burdensome for funding recipients. They would not be far off the mark. But in reality, the government has had mechanisms in place for many years to track government spending and prevent mismanagement of funds.

The OMB issued Circular A-133, establishing the single audit process for states, local government and not-for-profit organizations receiving more than $500,000 a year in federal funding. OMB Circular A-133 audits, commonly referred to as single audits, use a risk-based approach to audit federal grants from all federal agencies. A risk-based approach allows auditors to assess risk based on the specific requirement, including inherent risk factors. Because ARRA-funded grants carry higher risk factors, programs with ARRA funds are more likely to be tested for compliance.

It is expected that the additional ARRA funds will require auditors to test more programs and incur more time in completing single audits. This additional time will translate into increased audit costs to the grantee; however, these costs can be charged to the program(s) under audit, as outlined in OMB cost circulars. Organizations may consider these costs when developing the grant budgets to avoid paying for increased audit requirements from nonfederal resources.

In an addendum to OMB Circular A-133 issued on August 5, 2009, additional requirements and audit guidance are provided for audits of organizations receiving ARRA funds. Since auditors performing single audits will be looking for certain information, it is in the auditee’s best interest to take steps to have the information readily available.

What it Means for Grant Managers

Now more than ever, grant managers are at center stage when it comes to accepting federal funding. But they are by no means alone. ARRA reporting requirements impact accounting, finance, operations, relationships with subcontractors, human resources and other aspects of an organization.

Section 1512 of the Recovery Act requires recipients of ARRA contracts, grants and loans to submit electronic reports no later than 10 days after the end of each quarter. Funding recipients must report certain information at www.federalreporting.gov, including:

The amount of ARRA funds received
The services funded or goods delivered
Progress toward completion of the funded activity and the expected outcome
An accounting for the number of jobs created or retained by the funding
A list of the names and total compensation of top executives

Grant managers should consider reading the “Recipient Reporting Data Model” (available on www.federalreporting.gov) and developing a plan to accumulate the needed information. If necessary, they should establish internal controls to ensure the accuracy of the data presented in the report.

As part of the single audit procedures, grant auditors are asked to verify that the report can be supported by the underlying records, and perform recalculations and analytical procedures to identify unexplainable differences. If reports contain inaccurate data, are submitted late or have inadequate internal controls to ensure the accuracy of the data, it is likely that they will be reported in the single audit report as a finding.

Preparing for the New Requirements

Before accepting ARRA grants, organizations have to take into consideration the design or redesign of internal controls to accommodate the new compliance requirements. Federal grants require well designed and effective internal controls to mitigate the risk of noncompliance. New risks have been identified that will require organizations to design new controls to help mitigate those risks. The accuracy of Section 1512 reporting is one of those risks. Some others are:

ARRA funds are not used on activities related to casinos or other gambling establishments, aquariums, zoos, golf courses or swimming pools.
ARRA-funded construction, alteration, maintenance or repair of public building or other work must use iron, steel and manufactured goods produced in the United States (unless a waiver is obtained from the federal government).
Pass-through ARRA awards to subrecipients require a funding agency to ensure that the subrecipient is registered with the Central Contractor Registration (CCR) before the award is granted.

In addition to the new risks, some old risks have been highlighted that make it essential that current internal controls are well designed and operating effectively. These risks are:

Compliance with the Davis-Bacon Act, which requires contractors with more than $2,000 in projects financed with federal funds to present the funding agency with a copy of weekly payrolls and a statement of compliance with local prevailing wage rates.
Ensuring that subaward documents to the subrecipient communicate the federal award amount, Catalogue of Federal Domestic Assistance (CFDA) number and the amount of the award which is ARRA funds.

Constituents are Watching

The most important component of ARRA funding is that the public has been asked to participate in the oversight of these funds. Lawmakers expect that citizens will be able to see how, who, when and why the money is being spent, and understand the impact of the funding on our national, state and local economies.

These are exciting times for grant managers, program managers, accountants and auditors. It is a rare opportunity to demonstrate to our communities the value of our work. We have an active audience waiting to see if we succeed.

Resources

Recovery.gov
FederalReporting.gov
OMB.gov
Office of Management and Budget
OMB Circular A-133, Compliance Supplement

Biography

Sean Walker, CPA, CGFM is the Assistant Director of Assurance Services for Clifton Gunderson LLP, which is headquartered in Milwaukee, Wisconsin. For more information, please contact Sean at Sean.Walker@cliftoncpa.com.

This article was originally published in the NGMA Journal (Volume 18, No.1 * Spring 2010)

Clifton Gunderson Names New Partners

Wed, 09 Jun 2010 05:00:00 GMT

Media Contact:
Jen Dirks, Communications Director
(414) 721-7646
Jennifer.Dirks@cliftoncpa.com

MILWAUKEE, Wis. (June 9, 2011) – Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, today announced the approval of 14 new partners for admission to the firm.

“People are our most valued asset at Clifton Gunderson, and that’s especially true as we celebrate the admission of our newest partners,” said Kris McMasters, CEO. “Our new partners have grown our firm by providing value-added service to our clients every day. They embody all that Clifton Gunderson stands for, and are taking the firm into the next generation with their strategic planning skills and forward thinking. We congratulate all of our new partners for this achievement.”

The 2010 new partners include:

•   Richard Alley (Milwaukee, Wis.)
•   Christopher Atkinson (Peoria, Ill.)
•   Jens Emerson (Racine, Wis.)
•   Ryan Gartman (Sheboygan, Wis.)
•   Rusty Gibson (Peoria, Ill.)
•   Nancy Gunza (Philadelphia, Pa.)
•   Scott Hess (Racine, Wis.)
•   Wayne Hoeing (Indianapolis, Ind.)
•   Herbert Hoffman (Tucson, Ariz.)
•   Matthew Lehan (Des Moines, Iowa)
•   Rod MacLachlan (Toledo, Ohio)
•   Matt Robertson (St. Joseph, Mo.)
•   Doreen Shute (Calverton, Md.)
•   Todd Sprang (Oak Brook, Ill.)

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,900 professionals serving clients from 46 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International “Global Care” approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

Clifton Gunderson Merges With St. Louis' Humes & Barrington

Fri, 04 Jun 2010 05:00:00 GMT

Media Contact:
Jen Dirks, Director, Communications
(414) 721-7646
Jennifer.Dirks@cliftoncpa.com

Merger Increases Firm Footprint and Expands Presence in New Market

ST. LOUIS, Mo. (June 4, 2010) – Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, today announced it has merged with Humes & Barrington LLP – a full-service Certified Public Accounting firm based in St. Louis, Missouri. Humes & Barrington will join Clifton Gunderson under the regional leadership of Managing Partner Steve DeBruyn. The merger is effective June 1, 2010.

“We are excited for the many growth opportunities the merger with Humes & Barrington will provide for our firm, our clients and our future clients,” said DeBruyn. “Humes & Barrington is a major player within the St. Louis business community and has earned a solid reputation with its clients for quality and expertise. We are eager to combine these strengths with ours and build for our firm’s future and the future for our clients. This is a great fit for both firms.”

For 25 years, Humes & Barrington has served clients in the St. Louis marketplace and has been recognized as one of the best CPA firms in St. Louis. It is a full-service firm with a strong tax, assurance, IT, wealth management and general business consulting practices. The firm’s experts provide service to clients in a number of industries including manufacturing, distribution, non-profit, real estate, contracting, IT consulting and financial services.

Through this merger, seven Humes & Barrington partners including Brian Humes, Jay Barrington, Marilyn Lunnemann, Greg Schmittgens, Joan Humes, Joe Herman and Barb DuBois will join Clifton Gunderson. In addition, 53 professionals from Humes & Barrington will join the firm. All professionals of Humes & Barrington will remain at their current office location at 333 S. Kirkwood Road, Suite 300, St. Louis, Missouri.

“With Clifton Gunderson’s strong presence across the country, this merger will allow us to expand our existing tax, assurance, IT and business advisory services and support our desire to grow in additional strategic services,” said Jay Barrington, managing partner. “We are excited about the tremendous network of resources offered by Clifton Gunderson, which will enhance the opportunities to serve our clients’ needs of tomorrow as well as our team members’ professional development.”

Clifton Gunderson also today announced Dennis Bailey has been named partner-in-charge of the St. Louis office. Bailey will be responsible for the overall operations and growth of the St. Louis practice. He will also coordinate client services with other Clifton Gunderson offices across the state and firmwide.

Bailey has more than 40 years of experience in public accounting. He most recently served as an audit partner in the firm’s Peoria, Illinois office. He specializes in audit and accounting services with an emphasis on manufacturing, construction, wholesale/distribution, and retail industries. He is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants and the Illinois CPA Society. Prior to joining Clifton Gunderson, Bailey was a partner with KPMG.

“Dennis has played an integral role in elevating our assurance practice in Downstate Illinois and across the firm,” said DeBruyn. “We are eager to continue to utilize Dennis’ leadership experience and the client relationships he has developed over the years to further strengthen our assurance practice. His areas of expertise will nicely complement the St. Louis marketplace and the needs of the firm’s current clients in this location.”

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,900 professionals serving clients from 46 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International “Global Care” approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

Clifton Gunderson Acquires Merrillville, Indiana Office of BKD

Wed, 02 Jun 2010 05:00:00 GMT

Media Contact:
Jennifer Dirks, Director of Communications
(414) 721-7646
Jennifer.Dirks@cliftoncpa.com

Combination Expands and Strengthens Firm’s Presence in Chicagoland

OAK BROOK, Ill. (June 2, 2010) – Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, today announced it has acquired the Merrillville office of BKD LLP. The partners and staff will join Clifton Gunderson’s Greater Chicagoland practice – with current offices in Oak Brook, Ill. and Schererville, Ind. – under the leadership of Managing Partner Steve Meindl. The acquisition is effective June 1, 2010.

“Adding this talent to our firm will further strengthen our presence in the Chicagoland area,” said Meindl. “This decision allows us to further build on our commitment to provide high quality service to our current and future clients.”

Through this combination six professionals, including partner John Matthiesen, will join Clifton Gunderson and continue to provide assurance, tax and consulting services to clients in a number of industries including financial institutions and manufacturing.

“We are excited about joining a firm with a strong presence in the Chicagoland area,” said Matthiesen.
“We share the same practice philosophy and have been extremely impressed with Clifton Gunderson’s high quality of service and the commitment provided to their clients.”

Clifton Gunderson has been serving the Greater Chicagoland community since 1983. During its 27-year history serving clients, the practice has grown to more than 100 professionals providing a wide range of accounting, tax, entrepreneurial business services, wealth management and valuation and forensic services to its clients.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,900 professionals serving clients from 46 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International “Global Care” approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

Clifton Gunderson Expands to New Markets

Tue, 01 Jun 2010 05:00:00 GMT

Clifton Gunderson Combines Resources and Expertise with Delaware Valley-Based Stockton Bates

Tue, 01 Jun 2010 05:00:00 GMT

Media Contact:
Kelly O’Connor, Marketing Associate
(301) 902-8560
Kelly.OConnor@cliftoncpa.com

Combination Increases Firm Footprint and Secures Presence in New Markets

BALTIMORE, Md. (June 1, 2010) – Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, today announced it has combined resources and expertise with Stockton Bates – a firm of certified public accountants in the Delaware Valley with offices in Philadelphia and Lancaster, Pennsylvania and Haddonfield, New Jersey. The Stockton Bates locations will join Clifton Gunderson’s Mid-Atlantic practice – with current offices in Arlington, Baltimore, Raleigh, Richmond and Washington D. C. – under the leadership of Managing Partner Terry Hancock. The combination of Clifton Gunderson and Stockton Bates is effective June 1, 2010.

“This is an important strategic investment for Clifton Gunderson and we are excited about the many growth opportunities the joining of our two firms means to our clients and our future clients,” said Hancock. “Securing a presence within the Pennsylvania and New Jersey markets has been a key initiative for our firm’s growth. These locations are attractive to Clifton Gunderson because of the synergies that exist between our Mid-Atlantic office locations and our current client base.”

For more than 100 years, Stockton Bates has earned a solid reputation with its clients in the Delaware Valley for quality service and expertise. As a full-service firm with a strong tax and assurance practice, its experts serve clients in a number of industries including construction, manufacturing and wholesale distribution, insurance and not-for-profit.

Through this combination, three Stockton Bates partners including John Gallagher, Bruce Lynch and James Smith will join Clifton Gunderson as partners. In addition to these partners, 29 Stockton Bates professionals will join the firm as members of the Mid-Atlantic practice. Stockton Bates will continue to provide the high quality of service its clients in the Delaware Valley and Central Pennsylvania regions have come to expect over the years.

“With Clifton Gunderson’s strong presence across the country, joining our firm with Clifton Gunderson will allow us to expand our tax and accounting services and supports our desire to grow in additional strategic services,” said Gallagher. “We are excited about the tremendous network of resources offered by Clifton Gunderson, which will enhance the opportunities to serve our clients’ needs of tomorrow.”

Clifton Gunderson has been serving the Mid-Atlantic region since 1980. During its 30 year history, the Mid-Atlantic practice has grown to nearly 300 partners and professionals providing a wide range of assurance, accounting, tax, entrepreneurial business, wealth management, and valuation and forensics services to its clients.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,900 professionals serving clients from 46 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International “Global Care” approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

Clifton Gunderson Acquires International Tax Firm U.S. Tax Advantage

Tue, 01 Jun 2010 05:00:00 GMT

Media Contact:
Jen Dirks, Director of Communications
(414) 721-7646
Jennifer.Dirks@cliftoncpa.com

Linda Muskin, Clarus Communications
(847) 432-7300
lmuskin@teamclarus.com

Combined Resources and Expertise Elevates Firm as Leading International Tax Services Provider

MILWAUKEE, Wis. (June 1, 2010) – Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, today announced its acquisition of U.S. Tax Advantage, LLC (USTA), an international tax consulting services firm with locations in New York, Boston, Chicago, Milwaukee and Houston. The acquisition is effective May 1, 2010. By combining resources and expertise, Clifton Gunderson and USTA become one of the leading suppliers of international tax services.

“This is an important strategic investment for our firm, which benefits the clients of both our firms,” said Krista McMasters, Clifton Gunderson CEO. “The acquisition further strengthens the talent and resources of our tax practice and highlights our commitment to provide the highest level of tax services to our current and future clients and proactively meet their growing, complex, global needs.”

Through this acquisition, Clifton Gunderson will add 14 tax professionals to the firm, including partners Mark Gasbarra and Lester Fuwa. Gasbarra joins Clifton Gunderson as managing partner of Global Tax Services and brings with him three decades of international tax experience serving the complex tax needs of Fortune 500 companies. He formed USTA five years ago with the vision of creating a global tax services practice while leveraging the benefits of superior tax technology. Prior to forming USTA, Gasbarra was a senior international tax partner and national practice leader at two Big Four firms.

“Mark has had significant success in building USTA and has a history of insightful international tax strategies and solutions using methods that complement and translate to our other tax consulting services," said McMasters. "We are eager to leverage his leadership and experience to further strengthen the breadth of tax services we provide to our clients."

Fuwa, also with three decades of international tax experience, joined USTA from a Big Four firm and has significantly increased the firm’s technology leadership potential. He joins Clifton Gunderson as partner-in-charge of Global Tax Solutions, USTA’s web-based software platform.

“We have been extremely impressed with the strengths of Clifton Gunderson, the high quality of service provided to their clients and the synergies that exist between our firms,” said Gasbarra. “We share the same practice philosophy and reputation for quality client service, and believe we can leverage Clifton Gunderson’s tremendous network of resources –both at the national and international levels – to better serve our clients’ needs.”

McMasters added, “USTA partners and staff have earned a solid reputation for quality service and expertise in assisting many mid-market and Fortune 500 companies with their international tax requirements. We are excited about how well the strengths of USTA will complement ours and enhance the services we provide to our existing and future clients.”

Clifton Gunderson is the 14th largest U.S. accounting firm and the largest member of HLB International, one of the world’s largest networks of independent professional accounting firms and business advisors. Through this affiliation, Clifton Gunderson leverages the expertise of professionals across the world and has gained access to global resources to meet the cross-border business objectives and needs of its clients. The combination of Clifton Gunderson and USTA means more direct access to these resources and information sharing between the two firms and its client-serving professionals.

About USTA
US Tax Advantage, LLC is operating as a subsidiary of Clifton Gunderson and will keep its name. US Tax Advantage, LLC is an international tax specialty firm focused on global tax optimization for US and foreign-based companies - combining expert tax analysis with proprietary software to deliver reliable decision support and sustained tax savings. The firm’s core competencies include structuring, transfer pricing, federal income tax incentives, and repatriation. U.S. Tax Advantage, LLC is ranked in Inc. Magazine’s “500 Fastest Growing Private Companies in America” for 2009.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,900 professionals serving clients from 46 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International “Global Care” approach. For more information about Clifton Gunderson, visit www.cliftoncpa.com.

Clifton Gunderson Professionals Receive WICPA 2010-2011 Presidents' Awards

Wed, 26 May 2010 05:00:00 GMT

Media Contact:
Jen Dirks, Director of Communications
Phone: (414) 721-7646
Jennifer.Dirks@cliftoncpa.com

Clifton Gunderson Receives WICPA Public Service Award
Kelly Sics Receives WICPA Outstanding Young Professional Award
Kris McMasters Receives WICPA Distinguished Career Award

MILWAUKEE, Wis. (May 26, 2010) – Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, today announced its professionals are the recipients of three 2010-2011 Wisconsin Institute of Certified Public Accountant (WICPA) Presidents’ Awards.

Clifton Gunderson was awarded the WICPA Public Service Award. The Public Service Award is given to a WICPA member firm which has distinguished itself in public service activities at the local, regional and state levels. Clifton Gunderson’s Wisconsin practice raised more than $86,200 in monetary donations for charities across the state in 2009. The firm is involved in community activities and employees serve on not-for-profit boards across Wisconsin.

“We pride ourselves as a firm committed to the communities we serve – whether it is through various philanthropies, in response to an international or national event, or dedicating volunteer hours for a cause near and dear to the hearts of our employees,” said Ted Hart, managing partner.

Kelly Sics, manager in the firm’s Milwaukee office, was awarded the Outstanding Young Professional Award for her enthusiasm for the profession, for her involvement with the WICPA and for motivating others to be a part of the profession and the WICPA. Sics is an active member on the Young Professional Committee and participates on Young Professional Sub-Committee planning groups. She encourages young professionals to become involved and attend WICPA events. Sics recruits for the profession at college campuses, promoting the firm and also the WICPA. Sics co-chaired Clifton Gunderson’s WICPA Adopt-A-School Committee and presented the WICPA Life After College: Cashing in on Your Career program to college campuses.

“During the course of my career, I have enjoyed participating in various WICPA activities and serving as a member of the young professionals committee,” said Sics. “My involvement has shown me the benefits of the WICPA and the importance of becoming involved in the organization as a young professional.”

Clifton Gunderson CEO, Kris McMasters received the Distinguished Career Award for her professional accomplishments and for her dedicated service to the WICPA and local community. McMasters is member at large of the American Institute of Certified Public Accountants (AICPA) Council (2006-present); member of the AICPA; member of the Illinois CPA Society and the WICPA. She was named the 2008 Innovator of the Year – Public Accounting Report; and was on the Financial Accounting Standards Advisory Council (2007-2008); Professional Practice Executive Committee of the Center for Audit Quality (2004-2006); Accounting Standards Executive Committee (1991-1994) and Quality Control Inquiry Committee (1997-2003).

“I am fortunate to have spent my career with a firm that invests in fostering and mentoring leaders. Clifton Gunderson has provided me amazing opportunities and experiences to grow and develop,” said McMasters. “Our firm has a legacy of many people initiatives – from our mentoring and career development programs to our progressive WIN@CG: Women’s Initiative NOW.”

Clifton Gunderson Names Mark Wyzgowski Managing Partner of Iowa Practice

Mon, 24 May 2010 05:00:00 GMT

Media Contact:
Charity Aalbers, Senior Marketing Manager
(515) 222-4400
Charity.Aalbers@cliftoncpa.com

DES MOINES, Iowa. (May 24, 2010) – Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, today announced it has named Mark Wyzgowski managing partner of its Iowa practice with offices in Des Moines and Cedar Rapids. In his new role, Wyzgowski will be responsible for the operations and growth of the Iowa practice. Wyzgowski will assume his new role effective June 1, 2010.

Wyzgowski joined Clifton Gunderson in 1999. He most recently served as partner-in-charge of the firm’s Racine and Kenosha, Wisconsin offices where he was responsible for overall operations and coordination of clients services with other Wisconsin and firmwide offices. Wyzgowski has more than 19 years of experience assisting closely-held businesses in all areas of taxation; including pro-active tax planning, tax credit consulting, entity selection, and tax compliance.

“Mark has made a tremendous impact on the growth of our Southeastern Wisconsin practice. His knowledge, experience and relationships with our clients have enhanced our visibility on both the local and national level,” said Kris McMasters, Clifton Gunderson CEO. “We are eager to leverage Mark’s strengths and talents and further build our client base in Iowa.”

Wyzgowski holds a bachelor’s of science in accounting from Illinois Wesleyan University, Bloomington, Illinois. He is a Certified Public Accountant licensed to practice in Wisconsin and Illinois.

Mark will relocate to Clifton Gunderson’s Des Moines office effective June 1, 2010.

Clifton Gunderson has been serving the Iowa community since 1986. During its 24-year history serving Iowa clients, the practice has grown to 86 professionals - including 13 partners - providing a wide range of assurance, accounting, tax, entrepreneurial business and valuation and forensics services to its clients.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, provides a wide range of assurance, accounting, tax, and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,800 professionals serving clients from 40 offices across the country. The firm has been recognized as one of the country’s best places to work.

Clifton Gunderson Announces New Leadership Structure for Indianapolis Office

Mon, 24 May 2010 05:00:00 GMT

Media Contact:
Cindy Wasson, Marketing Manager
(317) 569-6336
Cindy.Wasson@cliftoncpa.com

John Sauder Named Managing Partner; Ed Marcum Named Partner-in-Charge

INDIANAPOLIS, Ind. (May 24, 2010) – Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, today announced the restructuring of its Indianapolis office leadership team to further drive growth and continue to meet the needs of its clients.

John Sauder has been named managing partner of the firm’s Indiana-Ohio practice. In his new role, Sauder will be responsible for the effective and profitable operations and growth of the Indiana-Ohio client service center.

Sauder began his career with Clifton Gunderson in 1979 and has more than 25 years of public accounting experience. His accounting knowledge and expertise includes a variety of commercial entities, with a specialty in professional practices and construction contractors. Prior to his new role as managing partner, Sauder worked in the firm’s Peoria, Illinois office and served as firmwide leader of Entrepreneurial Business Services (EBS) where he was instrumental in elevating awareness and building recognition of the practice on a national level.

“John has played an integral role in building business for our Peoria office and as EBS leader. His knowledge, experience and relationships with our clients have enhanced our visibility and recognition within the accounting profession,” said Kris McMasters, Clifton Gunderson CEO. “Because of his invaluable leadership in this area, we are eager to leverage John’s talents to strengthen our footprint within the Indianapolis marketplace.”
Sauder and his family will relocate to the firm’s Indianapolis office on June 1, 2010.
The firm also today announced Ed Marcum as partner-in-charge of its Indianapolis office. Marcum will be responsible for the overall operations and growth of the Indianapolis office. He will also coordinate client services with other Clifton Gunderson offices and firmwide.

Marcum joined Clifton Gunderson in 2006 and brings more than 30 years of experience providing tax services for public and private companies in a variety of industries to his new role. He most recently has served as the tax practice leader for the Indianapolis office. Marcum specializes in corporate and business services related to the capital formation, business expansion and mergers and acquisitions. He also has extensive experiences in serving the tax needs of high net worth individuals and families. Prior to joining Clifton Gunderson, Marcum spent 27 years at the Indianapolis office of Ernst and Young.

“Ed’s passion is developing business and he has done a great job of that for our Indianapolis tax practice,” said Sauder. “As the new partner-in-charge of our Indianapolis office, we are excited for the opportunity to leverage Ed’s talent and leadership strengths to drive growth across all of our practice areas.”

Clifton Gunderson has been serving the Indianapolis-area community since 1986. During its 24 years serving Indianapolis clients, the office has grown to nearly 80 professionals - including 11 partners - providing a wide range of assurance, accounting, tax, entrepreneurial business, wealth management, government consulting, valuation and forensics, and technology solutions to its clients.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, provides a wide range of assurance, accounting, tax, and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,800 professionals serving clients from 40 offices across the country. The firm has been recognized as one of the country’s best places to work.

Clifton Gunderson Names Todd Deindoerfer Partner-in-Charge of Toledo Office

Mon, 24 May 2010 05:00:00 GMT

Media Contact:
Jen Dirks, Communications Director
(414) 721-7646
Jennifer.Dirks@cliftoncpa.com

Richard Faist to Retire Before End of Year

TOLEDO, Ohio. (May 24, 2010) – Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, today announced Todd Deindoerfer has been named partner-in-charge of the firm’s Toledo office. Deindoerfer will be responsible for the overall operations and growth of the Toledo office. He will also continue to spend a significant portion of his time providing assurance services to clients. Deindoerfer assumes his new role effective June 1, 2010 and succeeds Richard Faist who is retiring effective July 31, 2010.

“Todd has a proven record of success displaying strong leadership skills, expertise and the ability to deliver significant results for our clients,” said Faist. “We are eager to leverage these talents and further build our client base in Ohio.”

Deindoerfer has more than 22 years of experience auditing nonprofit, governmental, and closely-held entities. He holds a bachelor’s of business administration in accounting from the University of Toledo, Toledo, Ohio and resides in Ida, Michigan. He is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants and Ohio Society of Certified Public Accountants. Deindoerfer is involved within the Toledo community serving as treasurer for the Board of Trustees for Catholic Charities, Diocese of Toledo. Todd is past treasurer of the Northwestern Ohio Chapter of the National MS Society.

The firm also announced Richard Faist will retire effective July 31, 2010. Faist joined Clifton Gunderson in 1995, serving as managing partner of the Toledo office where he has been responsible for the operations and growth of the Toledo practice. Faist has more than 46 years of experience auditing manufacturing entities, financial institutions, employee benefit plans and not-for-profit entities. He is a native of Fremont, Ohio, received a BS degree from the University of Detroit in 1964 and resides in Sylvania, Ohio. He is a member of the American Institute of Certified Public Accountants and the Ohio Society of Certified Public Accountants. He is an active member of the Toledo community currently serving on the board of trustees for six associations. He is a licensed Certified Public Accountant in Ohio. Prior to joining Clifton Gunderson, Faist spent 31 years with the Toledo office of KPMG, including 13 years as managing partner.

“Dick’s leadership has made a significant impact on our business operations in Toledo over the years. He has helped elevate our presence in Ohio, expand our business operations and solidify strong relationships with our clients,” said Kris McMasters, CEO. “We thank Dick for his commitment and dedication to our Toledo office and to our firm.”

Clifton Gunderson has been serving the Toledo community since June 1, 1995, when it purchased the Toledo office of KPMG. The Toledo practice provides a wide range of assurance, accounting, tax, and entrepreneurial business services to its clients.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, provides a wide range of assurance, accounting, tax, and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,800 professionals serving clients from 40 offices across the country. The firm has been recognized as one of the country’s best places to work.

Clifton Gunderson Names Mark WIlliams Managing Partner of Wisconsin Practice

Mon, 10 May 2010 05:00:00 GMT

Media Contact:
Jennifer Dirks, Communications Director
(414) 721-7646
Jennifer.Dirks@cliftoncpa.com

Keith Rode Named Partner-in-Charge of Racine Office

MILWAUKEE, Wis. (May 10, 2010) – Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, today announced it has named Mark Williams managing partner of its Wisconsin practice. In his new role, Williams will be responsible for leading the continued growth and efficiency improvement of the Wisconsin practice. Williams will assume his new role effective June 1, 2010 and succeeds Ted Hart who is retiring effective December 31, 2010.

Williams joined Clifton Gunderson in 2004. He most recently served as partner-in-charge of Clifton Gunderson’s Milwaukee and Madison offices where he was responsible for overall operations and coordination of client services with other Wisconsin locations and offices of the firm. Prior to this role, Williams served as national managing partner of Clifton Gunderson growth strategies assisting the firm in building its marketing and business development services. In this role, Williams worked closely with the senior management team in the development of Clifton Gunderson’s strategic growth initiatives.

“Mark has a passion for leading a culture grounded on exceptional, proactive client service,” said Kris McMasters, Clifton Gunderson CEO. “We are eager to leverage his strengths throughout our Wisconsin practice and across the firm.”

Williams has more than 35 years experience in the accounting profession, serving his first 30 years of his career with a Big Four firm in various leadership positions. He has extensive experience assisting entrepreneurs in building their emerging companies in a variety of industries including technology, manufacturing and wholesale distribution.

Williams graduated from the University of Wisconsin-Milwaukee with a bachelor’s degree in accounting. He is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants.

The firm also today announced Keith Rode as partner-in-charge of its Racine office. Rode will be responsible for the overall operations and growth of the Racine office. He will also coordinate client services with other Clifton Gunderson offices across the state and firm. Rode succeeds Mark Wyzgowski who was named managing partner of the firm’s Iowa practice. Rode will assume his new role effective June 1, 2010.

Rode has more than 19 years of progressive experience in tax. He currently serves as tax services leader of Clifton Gunderson’s Wisconsin practice. He joined the firm in January 2003. He specializes in providing
tax compliance and consulting strategies on a variety of complex issues, including mergers and acquisitions, multi-state taxes, and business succession planning. His experience includes federal, state and international taxation for publicly and privately-held companies in a variety of industries as well as individual taxation. Prior to joining Clifton Gunderson, Rode served as a tax managing director with a Big Four firm in Los Angeles, California.

“Keith’s proven leadership skills, expertise and his ability to deliver significant results for our tax clients are all great additions to our growing practice in Racine,” said Williams. “We are eager to leverage his talents to further build our client base in Southeastern Wisconsin.”

Rode holds a bachelor’s degree in business administration - accounting from the University of Wisconsin - Whitewater and speaks regularly at various tax seminars. He is a member of the American Institute of Certified Public Accountants and their corporate tax division.

Clifton Gunderson has been serving the Wisconsin community since 1974 with locations throughout the state including, Madison, Marshfield, Milwaukee, Oshkosh, Racine, Sheboygan, Sparta, Stevens Point and Tomah. During its 36-year history serving Wisconsin clients, the practice has grown to 270 professionals - including 35 partners - providing a wide range of assurance, accounting, tax, entrepreneurial business services, wealth management, government consulting, valuation and forensic services, and technology solutions to its clients.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, provides a wide range of assurance, accounting, tax, and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,800 professionals serving clients from 40 offices across the country. The firm has been recognized as one of the country’s best places to work.

Clifton Gunderson Names Keith Rode Partner-In-Charge of Racine Office

Mon, 10 May 2010 05:00:00 GMT

Media Contact:
Jen Dirks, Communications Director
(414) 721-7646
Jennifer.Dirks@cliftoncpa.com

RACINE, Wis. (May 10, 2010) – Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, announced today Keith Rode has been named partner-in-charge of the firm’s Racine office. Rode will be responsible for the overall operations and growth of the Racine office. He will also coordinate client services with other Clifton Gunderson offices across the state and firmwide. Rode succeeds Mark Wyzgowski who was named managing partner of the firm’s Iowa practice. He will assume his new role effective June 1, 2010.

“Keith’s proven leadership skills, expertise and his ability to deliver significant results for our clients are all great additions to our rapidly growing practice in Racine,” said Mark Williams, managing partner of the firm’s Wisconsin practice. “We are eager to leverage his talents and further build our client base in Southeastern Wisconsin.”

Rode has more than 19 years of progressive experience in tax. He currently serves as tax services leader of Clifton Gunderson’s Wisconsin practice. He joined the firm in January 2003. He specializes in providing tax compliance and consulting strategies on a variety of complex issues, including mergers and acquisitions, multi-state taxes, and business succession planning. His experience includes federal, state and international taxation for publicly and privately-held companies in a variety of industries as well as individual taxation. Prior to joining Clifton Gunderson, Rode served as a tax managing director with a Big Four firm in Los Angeles, California.

"Clifton Gunderson’s dedication to quality and commitment to our clients are unmatched in this marketplace,” said Rode. “These characteristics coupled with our firm’s people-oriented culture are what set Clifton Gunderson apart from our peers. I am thrilled to have the opportunity to build upon this foundation and further strengthen our position in Racine."

Rode holds a bachelor’s of business administration in accounting from the University of Wisconsin – Whitewater, Whitewater, Wisconsin. He speaks regularly at various tax seminars and is a member of the American Institute of Certified Public Accountants and their corporate tax division.

Clifton Gunderson has been serving the Racine community since 1929, originally as L.W. Van Natta & Co. The name changed to Earl W. Hammill & Co. in 1963, before merging with Clifton Gunderson in October 1984.

During its 81-year history serving Racine clients, the practice has grown to 32 professionals providing a wide range of assurance, accounting, tax, entrepreneurial business, wealth management, government consulting, valuation and forensics, and technology solutions to its clients.

About Clifton Gunderson

Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, provides a wide range of assurance, accounting, tax, and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,800 professionals serving clients from 40 offices across the country. The firm has been recognized as one of the country’s best places to work.

Clifton Gunderson Welcomes New Regional Director of IT Assurance and Advisory Services

Wed, 05 May 2010 05:00:00 GMT

Media Contact:
Kelly O’Connor, Marketing Associate
(301) 902-8560
Kelly.OConnor@cliftoncpa.com

ARLINGTON, Va. (May 5 , 2010) – Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, is pleased to announce that Gurmeet Sawhney has joined the firm as the Regional Director – IT Assurance and Advisory Services in the Arlington, Virginia office.

Sawhney joins the IT group with more than 11 years of public accounting experience leading complex enterprise-wide audits, risk advisory engagements and systems integration projects. In his new role, he will lead IT risk management solutions in the areas of audit, compliance, system integrations and mergers and acquisitions for Fortune 500 companies and large, complex government contractors.

Sawhney holds a master’s degree in computer information systems from Eastern Michigan University, Ypsilanti, Michigan and a master’s of business administration in finance from the University of New Orleans, New Orleans, Louisiana. In addition, he holds a bachelor’s degree in mechanical engineering and is a Certified Information Systems Auditor. Sawhney is a member of the Northern Virginia Tech Council, The Indus Entrepreneur DC chapter, Information Systems Audit and Control Association – National Capital Region and the Institute of Internal Auditors – Northern Virginia chapter. He resides in Tyson’s Corner, Virginia.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, provides a wide range of assurance, accounting, tax, and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,800 professionals serving clients from 40 offices across the country. The firm has been recognized as one of the country’s best places to work.

Clifton Gunderson Technology Solutions Identifies Top Five Technology Trends for Growth in 2010

Fri, 23 Apr 2010 05:00:00 GMT

Media Contact:
Kristen Nelson
608-662-7657
Kristen.Nelson@cliftoncpa.com

MIDDLETON, Wis. – (April 23, 2010) – During the economic downturn, technology spending was focused primarily on maintenance rather than strategic growth. Even after nearly two years, some businesses continue to take a "wait and see" approach to technology plans and investments. And yet technology marches on, becoming more and more integral to business growth. Clifton Gunderson Technology Solutions, the technology consulting division of Clifton Gunderson which is ranked as one of the nation’s largest certified public accounting and consulting firms, has identified the top five trends that will impact technology investments for the remainder of 2010:

Desktop virtualization will go mainstream. 2009 saw a significant increase in the processing power of servers and an explosion in the use of server virtualization. In 2010, businesses will harness this power and begin virtualizing desktops. By virtualizing a desktop and running it on a central server, it’s possible to make the end-user experience easier and more uniform, enhance security over applications and data, minimize network support requirements and survive disruptions with minimal downtime.
Off-site data backup will eliminate tape drives and other storage methods. With technological advancements in data de-duplication and increased internet bandwidth, businesses can cost effectively and securely backup their information online. In addition to having off-site backup capabilities, some solutions also address disaster preparedness by providing the ability to immediately virtualize a failed server. Businesses should consider the new off-site backup options before investing in traditional backup methods.
Businesses will see the value of cloud computing. As employees are working everywhere (at the office, at home, from other sites), they need to securely access up-to-date resources. Businesses are embracing hosted virtual servers to save money and streamline maintenance. Cloud computing services are expected to grow threefold, reaching $42 billion in 2010.
Managed IP tools will be leveraged for efficiency. With Managed IP, businesses use a single, converged voice and data communications service. Business customers avoid hefty capital expenditures by paying a monthly fee instead of installing expensive equipment on-site.
Mobility will drive business practices. By the end of 2010, an estimated 1.2 billion people will carry mobile devices with Web access. Opportunities abound for smart businesses to take advantage of this convergence. As mobile carriers deploy additional high speed internet, mobile users will benefit from increased performance and greater coverage areas. Cellular connectivity is rapidly becoming more mainstream than wireless hotspots.

In addition to these findings, Clifton Gunderson Technology Solutions also highlighted that social media isn’t going away anytime soon and that everyone will be online – if not already actively engaged.

"With the proliferation of mobile smart devices, social media use will continue to increase, which means businesses need to be prepared," said Bruce Barchus, partner, Clifton Gunderson Technology Solutions. "Social media has become a viable marketing and messaging channel and businesses need a strategy to deal with that – waiting until 2011 may be too late. Those who strategically use the Internet to market themselves will find more prospects and keep more loyal customers while those who do not will be left behind."

About Clifton Gunderson

Clifton Gunderson Technology Solutions is the firm’s technology consulting division, providing business software, network infrastructure, application development, and management consulting services to business clients.

Change in estate-tax law brings relief briefly

Fri, 16 Apr 2010 05:00:00 GMT

Boulder County Business Report, April 16, 2010
http://www.bcbr.com/article.asp?id=51167

Clifton Gunderson Names Tony Cord Director of Business Development

Tue, 06 Apr 2010 05:00:00 GMT

Media Contact:
Kelly O’Connor, Marketing Associate
(301) 902-8560
Kelly.OConnor@cliftoncpa.com

ARLINGTON, Va. (April 6, 2010) – Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, has named Tony Cord as regional director of business development. In this new role, Cord is responsible for leading business development efforts in the DC metropolitan region.

Cord brings more than 20 years of business development and strategic planning experience to his new role. Prior to joining Clifton Gunderson, Cord served as the business development leader for an international accounting firm, where he developed regional strategies and tactics and created a leadership position for sourcing and closing professional services and products to public, private and tax-exempt organizations.

“Tony’s proven business development skills and industry knowledge are great additions to our rapidly growing DC and Northern Virginia practices,” said H. Terry Hancock, CPA, managing partner of the firm’s Mid-Atlantic Client Service Center. “He is a welcome addition to the Clifton Gunderson team.”

Cord holds a master’s of business administration from the Southern Illinois University, Carbondale, Illinois and a bachelor’s degree from the University of Maryland, College Park, Maryland. He serves as a trustee for the Federal City Council of Washington, a board member for the D.C. Chamber of Commerce, a mentor for DC College Success Foundation and on the Executive Forum Committee of the Tech Council of Maryland. Cord is also an active member of professional organizations such as the Northern Virginia Tech Council, Greater Washington Board of Trade and the Association for Corporate Growth. He resides in Washington, DC.

About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, provides a wide range of assurance, accounting, tax, and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,800 professionals serving clients from 40 offices across the country. The firm has been recognized as one of the country’s best places to work.

Clifton Gunderson's Wealth Management business grows

Fri, 02 Apr 2010 05:00:00 GMT

BizTimes Milwaukee, April 2, 2010

http://www.biztimes.com/news/2010/4/2/clifton-gundersons-wealth-management-business-grows

Pingpong, Parties ‘Stress Busters” for Busy Baltimore-Area Accountants

Fri, 02 Apr 2010 05:00:00 GMT

Baltimore Business Journal, April 2, 2010 http://www.bizjournals.com/baltimore/stories/2010/04/05/story4.html?b=1270440000%5E3128671

Who's going steady: Trends in mergers and acquisitions

Thu, 01 Apr 2010 05:00:00 GMT

Mountain States Construction, April 1, 2010 http://mountainstates.construction.com/opinions/viewpoint/2010/0401_GoingSteady.asp

Top 10 Technologies for 2010

Thu, 01 Apr 2010 05:00:00 GMT

InterBusiness Issues, April 2010
http://www.peoriamagazines.com/ibi/2010/apr/top-10-technology-trends-2010

Capital cost or repair? The difference can mean tax savings

Thu, 01 Apr 2010 05:00:00 GMT

Central Illinois Business Magazine, April 2010
http://www.centralillinoisbusiness.com/index.cfm?colid=17

Learning from the Koss case

Fri, 26 Mar 2010 05:00:00 GMT

Milwaukee Business Journal, March 26, 2010 http://milwaukee.bizjournals.com/milwaukee/stories/2010/03/29/story2.html

Clifton Gunderson Presents “Ready, Set E-File! – Preparing And Planning For New Form 5500 Requirements”

Wed, 17 Mar 2010 05:00:00 GMT

Media Contact:
Brittany Korth
(309) 495-8769
Brittany.Korth@cliftoncpa.com

PEORIA, Ill. (March 17, 2010) –“Ready, Set, E-File! - Preparing and Planning for the New Form 5500 Requirements” is the title of a free online Webinar to be presented by Clifton Gunderson – ranked as one of the nation’s largest certified public accounting and consulting firms – on April 8, 2010. Join Employee Benefit Plan Experts Brenda Brandt and Mickie Murphy as they help organizations know what is expected of them as they prepare for online filing and other challenges related to Form 5500. Throughout the session you will learn tips and solid strategies on leveraging people and resources to implement the new requirement in your organization.

The one-hour Webinar will be presented twice on Thursday, April 8th; once at 10:00 a.m. and again at 2:00 p.m. All times are Central Time. Registration is required at www.cliftoncpa.com/resources/events.

For questions about the event, please contact Sada Kempf at (920) 232-2230 or Sada.Kempf@cliftoncpa.com. One CPE credit is available.

About our presenters:

Brenda Brandt, CPA, Partner, Assurance Services has more than 15 years of public accounting experience. She specializes in the planning and supervision of accounting engagements in various commercial and not-for-profit entities including: employee benefit plans, service corporations, distribution, manufacturing, hospitality and private clubs, telecommunications, healthcare and real estate.

Mickie Murphy, QPA, QKA, ERPA, Manager, Employee Benefit Services has more than 25 years experience in the employee benefits field, providing administration, recordkeeping, compliance and government reporting for qualified retirement plans, including: 401(k), profit sharing, pension and ESOP plans, as well as reporting and compliance for health and welfare plans.

About Clifton Gunderson

Commercial real estate loans worry some in bank industry

Sat, 13 Mar 2010 06:00:00 GMT

Milwaukee Journal Sentinel, March 13, 2010 http://www.jsonline.com/business/87530807.html

Clifton Gunderson Presents Free Webinar: “Look Before You Merge: Critical Issues Related To Credit Union Mergers”

Tue, 09 Mar 2010 06:00:00 GMT

Media Contact:
Amanda Jeffers, Senior Marketing Associate
(520) 352-1214
Amanda.Jeffers@cliftoncpa.com

TUCSON, Ariz. (March 9, 2010) – “Look Before You Merge: Critical Issues Related to Credit Union Mergers” is the title of a complimentary Webinar to be presented by Clifton Gunderson - ranked as one of the nation’s largest certified public accounting and consulting firms - on April 14, 2010.

The 60-minute Webinar will be presented once on April 14, 2010 at 1:00 p.m. Central Daylight Time. Registration is required at http://www.cliftoncpa.com/Resources/Events.

Clifton Gunderson presenters will cover how the new merger rules that went into effect for mergers consummated in the fiscal year beginning after December 15, 2008 (i.e. 2009 for calendar year ends) will affect credit unions as well as best practices, planning, and other transaction issues including:

• Determination of purchase price where there is no consideration given;
• The valuation process behind ASC805 (Formerly SFAS 141R);
• Post merger accounting concepts;
• One Year Later: Impairment

The presenters:

Randie G. Dial, senior manager, spent the last 11 years focusing on business valuation engagements, especially on valuations for financial reporting (141R and 142). Dial also has experience in performing valuations for estate/gift tax purposes, ESOPs, and marital dissolutions. He is accredited in Business Valuation (ABV) by the American Institute of Certified Public Accountants (AICPA), and has attained the (ASA) designation from the American Society of Appraisers. He is a Certified Public Accountant (CPA) in the State of Indiana.

Benjamin D. Miller, principal has 20 years of experience in providing business valuation services for financial reporting, litigation, ESOP, merger & acquisition, tax, and management planning purposes. He has provided valuation services for numerous industries including manufacturing, entertainment, healthcare, distribution, agriculture, specialty chemical, software development, oil & gas, and retail operations. Miller is an Accredited Senior Appraiser in Business Valuation with the American Society of Appraisers and is a member of the ASA’s International Board of Examiners. Miller has a bachelor’s of science in business administration with an emphasis in accounting from San Diego State University.

Bryan W. Mogensen, assurance partner and firm credit union practice leader, with more than 14 years of experience, Mogensen leads the firm’s national credit union group in providing opinion audits, supervisory committee agreed-upon procedure engagements, special audits and consulting to credit unions, credit union related organizations, community banks, non-profit organizations and other small businesses.

About Clifton Gunderson

New law poses challenges for estate planners

Fri, 05 Mar 2010 06:00:00 GMT

BizTimes Milwaukee, March 5, 2010
http://www.biztimes.com/news/2010/3/5/on-the-money-new-law-poses-challenges-for-estate-planners

Financial statement audit and form 5500 loom for 403(b) plan sponsors

Mon, 01 Mar 2010 06:00:00 GMT

Central Illinois Business Magazine, March 2010 http://www.centralillinoisbusiness.com/index.cfm?archid=531&columnName=TAX%20PLANNING&arch=1

Industry Trends: Financial check-up

Sun, 28 Feb 2010 06:00:00 GMT

Construction Today, February 29, 2010
http://www.construction-today.com/cms1/content/view/1851/126/

Clifton Gunderson CEO Krista McMasters Named As Member of Private Company Panel

Fri, 26 Feb 2010 06:00:00 GMT

Media Contact
Jen Dirks, Director of Communications
(414) 721-7646
Jennifer.Dirks@cliftoncpa.com

MILWAUKEE, Wis. (February 26, 2010) - Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, today announced CEO Krista McMasters has been named as a panel member of The American Institute of Certified Public Accountants (AICPA), the Financial Accounting Foundation (FAF), and the National Association of State Boards of Accountancy (NASBA) new “blue-ribbon panel” established to address how U.S. accounting standards can best meet the needs of users of private company financial statements.

Members of the panel represent a cross section of private company financial reporting constituencies, including lenders, investors, and owners as well as preparers and auditors. After its comprehensive review of issues affecting the current system of standard settings for private companies in the United States, the panel will issue a report containing its recommendations to the FAF Board of Trustees in approximately one year.

As announced last month, the committee will be chaired by Rick Anderson, chairman of Moss Adams, LLP, who is also a current member of the FAF Board of Trustees and the AICPA. The panel members are:

Rick Anderson, Chairman, Moss Adams, LLP
Billy Atkinson, Board Chair, NASBA
Daryl Buck, Senior VP and CFO, Reasor’s, Inc.
Steve Feilmeier, CFO, Koch Industries
Hubert Glover, Co-founder and President, REDE, Inc.
David Hirschmann, President and CEO, Center for Capital Markets Competitiveness, U.S. Chamber of Commerce
William Knese, VP, Finance and Administration, Angus Industries
Kewsong Lee, Managing Director, Warburg Pincus
Paul Limbert, CEO, WesBanco, Inc.
Krista McMasters, CEO, Clifton Gunderson
Barry Melancon, President and CEO, AICPA
Jason Mendelson, Co-founder, Foundry Group
Michael Menzies, CEO, Easton Bank and Trust Company
David Morgan, Partner, Lattimore, Black, Morgan and Cain PC
Terri Polley, President, FAF
Dev Strischek, Senior VP, Corporate Risk Management, SunTrust Banks, Inc.
Mark Vonnahme, Executive VP, Surety, Arch Insurance Group
Terri Yohn, Associate Professor, Indiana University

The members will be joined by several participating observers, including representatives of the U.S. Federal Financial Institution Regulatory Agencies Group and the U.S. Small Business Administration.

“Our blue-ribbon panel members represent a broad range of constituencies who share a keen interest in private company financial reporting,” stated Mr. Anderson. “The members we have assembled all possess experience and expertise in this area, and their participation will undoubtedly result in productive, insightful recommendations to the FAF Board of Trustees regarding this important issue.”

About Clifton Gunderson

Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, provides a wide range of assurance, accounting, tax, and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 2,000 professionals serving clients from 45 offices across the country. The firm has been recognized as one of the country’s best places to work.

ESOPs: Not just an exit strategy anymore

Fri, 12 Feb 2010 06:00:00 GMT

Colorado Springs Business Journal, February 12, 2010 http://csbj.com/2010/02/12/esops-not-just-an-exit-strategy-anymore/

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