July 18, 2018

Wayne Berson Gets Four More Years as BDO CEO

BDO partners seem to like Wayne Berson well enough to let him keep his job a while longer:

BDO USA, LLP, one of the nation’s leading professional service organizations, today announced that the firm’s partnership has re-elected Wayne Berson to a second four-year term as chief executive officer, effective November 1, 2016.  During the first three years of Mr. Berson’s initial term as CEO, BDO has experienced 70 percent growth in revenue, expanded market presence, industry leading gains in SEC clients and growing prominence as a favorable workplace for family oriented professionals and recent college graduates.

That means Wayne-o will be CEO until 2020, which seems so far away that it could've come out of some adverb-riddled sci-fi novel.

The press release offered some highlights from Berson's tenure so far, including:

  • Expanded into 20 new cities.
  • Won 97 new SEC audit clients.
  • 70% increase in cumulative revenue growth over three years.

The firm says that the growth has been "in equal measures" organic and through acquisitions, a claim it has maintained in its last two revenue announcements. I guess don't have much choice but to take them at their word, which is probably still more reliable than some of their auditing

[BDO]

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Jeremy Newman Just Wants to Be Clear, We are NOT Declaring Victory Over Banco Espirito…YET

BDO_International.pngAfter throwing an all night rager last week when BDO International Global Coordination skated on the $521M verdict, Jeremy Newman, BDO Boss, wants everybody to chill.

Newman said he had always been confident that BDO International’s arms-length approach would be proved but added: ‘There is still the risk of a further appeal, as well as the appeal by the US firm.’

See? Staying cool. Not out of the woods yet. But when we beat those bastards on appeal, then we are getting down.

Newman stays cool after BDO victory
[Accountancy Age]

You Know That Guy That Panhandles on Your Block? He May Be a CPA.

Anybody out there looking to help their fellow CPA, who’s down on his luck?
The Wall St. Journal is reporting that the former BDO Seidman LLP CEO, Denis Field may have to pay back a portion of $180 million that is being sought by prosecutors in the tax shelter case that involves Field and six others.
Natch, everybody has denied wrongdoing. The charges include conspiracy and tax evasion. Good luck with that.

Prosecutors Seek Ex-BDO Seidman CEO, 6 Others To Forfeit $180M
[WSJ]