RUSSELL BEDFORD FIRMS ARE AMONGST FIRST CPA PRACTICES APPROVED BY PCAOB

Added: (Mon Nov 03 2003)

Pressbox (Press Release) - Two of Russell Bedford's US member firms - Russell Bedford Stefanou Mirchandani LLP and Helin Donovan Trubee & Wilkinson LLP - were amongst the 114 US CPA practices to appear on the first ever list of Registered Public Accounting Firms released by the Public Company Accounting Oversight Board on September 30, 2003.
Under the Sarbanes-Oxley Act of 2002 and the PCAOB's rules, US public accounting firms had to be registered with the Board by October 22, 2003, to continue preparing or issuing audit reports on US public companies or to play a substantial role in such audits.
"We are delighted to have achieved PCAOB registration, and it is a great honour to be amongst the first CPA firms ever to have obtained this vital approval," commented Peter Stefanou, managing partner of Russell Bedford Stefanou Mirchandani LLP.
Russell Bedford Stefanou Mirchandani LLP - a member of the AICPA's SEC Practice Section - has offices in Washington DC, New York and Philadelphia. The firm provides accounting, auditing and tax services primarily to start-up, mid-market and SEC-registered companies located throughout the US, Canada, Europe and Asia.
Helin Donovan Trubee & Wilkinson LLP acted quickly to register with the PCAOB in order to ensure that its clients would experience no break in service. In doing so, it became the first accounting firm in Austin, Texas, to be registered.
Tom Wilkinson, audit and consulting partner, said: "It was important to us, as a smaller regional firm, to plan ahead and get through the approval process. Our clients demand a high level of service and responsiveness. We did not want there to be any question about our ability to provide services."
Helin Donovan Trubee & Wilkinson LLP is an accounting and consulting firm with offices in Austin, Dallas, Houston and San Antonio, Texas. It focuses on providing audit, accounting and taxation services to technology, financial services, real estate, professional services and not-for profit clients. The firm also has a substantial practice in providing audit and compliance services for employee benefit plans.
Two more of Russell Bedford's US firms - Williams Benator & Libby LLP (Atlanta, Georgia) and Pohl McNabola Berg & Co LLP (San Francisco, California) - have also been successful in obtaining PCAOB approval.
For further information, contact Peter Stefanou at Russell Bedford Stefanou Mirchandani on +1 703 448 9200.

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Notes to Editors

About Russell Bedford International
Russell Bedford International was established in 1983 by a group of medium-sized independent accountancy firms aiming to counter the market dominance of the major multi-national accountancy groups.
Russell Bedford is now a closely-connected global network of independent accountancy and business consultancy firms in key locations around the world, and is represented in some 50 countries in Europe, the Americas, the Middle East, Africa and Asia-Pacific.
All Russell Bedford affiliates are well-established firms offering international business advice and services to local and multinational clients. Most provide a full range of services comprising accounting, auditing, tax advice, general business guidance and financial consulting. In addition, many have special expertise in particular fields, such as international taxation or information technology.

About PCAOB

The Public Company Accounting Oversight Board is a private-sector, non-profit corporation, created by the Sarbanes-Oxley Act of 2002, to oversee the auditors of public companies in order to protect the interests of investors and further the public interest in the preparation of informative, fair, and independent audit reports.
The Sarbanes-Oxley Act of 2002 and the Board's rules require the registration of all public accounting firms that issue or prepare audit reports on US public companies, or that play a substantial role in the preparation of such audit reports. Beginning October 22, 2003, US public accounting firms must be registered with the Board in order to engage in that work.
The PCAOB announced August 7, 2003, that its online registration system for public accounting firms had begun accepting registration applications.
The Sarbanes-Oxley Act provides the Board 45 days to review registration applications.
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Issued by:
Kempton Bedell-Harper
Marketing Director
Russell Bedford International
Russell Bedford House, City Forum
250 City Road, London EC1V 2QQ
United Kingdom
T: +44 (0) 20 7410 0339 / 7490 7766
F: +44 (0) 20 7490 5102
E: info@russellbedford.com
W: www.russellbedford.com