AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

BDO Acquires TAXPE|Tax Performance Engineering

May 1, 2019

CHICAGO--(BUSINESS WIRE)--May 1, 2019--BDO USA, LLP, one of the nation’s leading professional services firms, is pleased to announce its acquisition of TAXPE LLC, a firm focused on the optimization of end-to-end income tax reporting processes for large corporate tax departments. Scott Hice, CEO of TAXPE, joined BDO as a Partner and National Leader of BDO’s Tax Transformation Services practice. The acquisition was effective on April 1.

The addition of TAXPE’s services, specifically in the area of tax process design and through the team’s extensive Fortune 500 company ASC 740 experience, will enhance BDO’s focus on driving solutions to meet the dynamic needs of corporate tax departments.

The role of the tax function is evolving under pressure from technological, policy-driven, and regulatory changes. Tax transformation comprises a holistic strategy to enable tax departments to better navigate the increasingly complicated web of tax laws and regulations through improved processes and automated technologies, and to respond intelligently to changes in laws and policy, while simultaneously creating a more efficient work environment and generating value for the business.

“Updating processes and advancing the use of technologies within a company’s tax function is becoming increasingly complex. Both changing tax laws and changing technologies have a direct day-to-day impact on the efficiency and effectiveness of the company workforce,” Hice said. “As a part of BDO’s Tax Transformation Services practice, our team now has the administrative backing of a global accounting firm; gaining access to BDO’s resources to better reinforce, broaden, and execute our core competencies for our clients through BDO’s comprehensive, end-to-end tax services.”

The legacy TAXPE team has worked with more than 300 companies on tax performance engineering projects, all of which involved tax provision and compliance software enhancements. With the acquisition comes TAXPE’s expertise surrounding the offerings of the major third-party software vendors—Corptax, Longview, Oracle and Thomson Reuters ONESOURCE—along with a library of configurable TAXPE TAXPOWER workpapers, which can be integrated with general ledger systems and third-party tax software systems to deliver repeatable data collection and reporting needs.

“As long as changes in policy, regulation, and technology continue, tax transformation strategies will be necessary for companies looking to stay ahead,” said Barbara Torzewski, BDO’s Tax Transformation Services managing director. “By adding Scott and his experienced team, BDO will be able to leverage TAXPE’s 20-plus years of process design and tax technology experience to deepen our analysis of operational efficiencies and development of tailored technology solutions, including automation and analytics. No two businesses will have the same tax transformation journey, and with TAXPE’s capabilities, companies can have even more specialized solutions that move the needle for their organizations.”

BDO Facts:

  • Over the past five years, BDO USA’s cumulative growth rate has far outpaced all other major U.S. accounting firms, with revenues more than doubling from $618 million in 2012 to $1.41 billion in 2017, growing to $1.47 billion in 2018. During that time, BDO entered 24 new U.S. cities and expanded its critical mass in 13 existing markets.
  • BDO represents companies ranging from closely held private businesses to leading nonprofits to Fortune 500 multinationals.
  • BDO USA has industry practices specialized in serving businesses in the construction, energy, financial institutions, asset management, government contracting, healthcare, insurance, manufacturing, nonprofit, private equity, real estate, restaurant, retail and technology sectors.
  • BDO has been named a Best Company by Working Mother Magazine for eight consecutive years and been recognized with the When Work Works Award for Business Excellence in Workplace Flexibility for ten consecutive years.
  • BDO has more than 60 offices and more than 550 independent alliance firm locations around the country.
  • BDO USA has been serving clients for more than 100 years since its founding in 1910 (as Seidman & Seidman).
  • As an independent member of BDO International Limited, the firm can leverage the resources of more than 73,800 people in 1,500 offices across 162 countries.

About BDO

BDO is the brand name for BDO USA, LLP, a U.S. professional services firm providing assurance, tax, and advisory services to a wide range of publicly traded and privately held companies. For more than 100 years, BDO has provided quality service through the active involvement of experienced and committed professionals. The firm serves clients through more than 60 offices and over 550 independent alliance firm locations nationwide. As an independent Member Firm of BDO International Limited, BDO serves multi-national clients through a global network of 73,800 people working out of 1,500 offices across 162 countries.

BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO is the brand name for the BDO network and for each of the BDO Member Firms. For more information please visit: www.bdo.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190501005290/en/

CONTACT: Madeline O’Connor

Bliss Integrated Communication

madeline@blissintegrated.com

212-840-1661

KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS

INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE PROFESSIONAL SERVICES ACCOUNTING CONSULTING FINANCE

SOURCE: BDO USA, LLP

Copyright Business Wire 2019.

PUB: 05/01/2019 09:00 AM/DISC: 05/01/2019 09:01 AM

http://www.businesswire.com/news/home/20190501005290/en