Radin Glass has a small but sophisticated financial reporting practice, which
includes:
• Audits of private companies
• Audits of three SEC Registrants
• Audits of US subsidiaries of foreign companies reporting on non-US exchanges
• Compilations and Reviews, including businesses and personal financials
statements
• Audits of employee benefit plans as required by ERISA and the Department of
Labor
• Special purpose reports for local taxing authorities and various contractual
agreements
• Consulting on specific accounting issues for companies audited by other
accounting firms
All financial reporting services are closely supervised by Arthur J. Radin, CPA
and Helen Liao, CPA, who together have well over a half-century of experience
in a wide range of business sectors.
The industries in which they are currently involved are as varied as importing,
software development, publishing and real estate. Tax consulting is a specialty
of Mr. Radin and ERISA reporting a specialty of Ms. Liao.
Both Mr. Radin and Ms. Liao are directly involved in every engagement and
frequently work as a team on financial reporting engagements.
Radin Glass is registered with the PCAOB. With only two audit partners, we are limited to four public companies and we do
not rotate public company audits.
Clients have found this to be an advantage, since they never have to re-educate
an audit partner.
We presently have three clients registered with the PCAOB.
In accordance with PCAOB and AICPA requirements, we are inspected every three
years in all areas of our financial reporting practice. Inspection reports are
available at www.pcaob.org and www.aicpa.org.
Because of PCAOB independence requirements, many companies without sophisticated
internal tax staffs are unable to prepare information related to income taxes
required under Financial Accounting Standard 109, Accounting for Income Taxes.
Many of these companies have retained Radin Glass to make the computations and
write the appropriate footnote for submission to their outside auditors.
Our consulting on accounting for income taxes includes recently issued FIN 48,
Income Tax Uncertainties.
Mr. Radin recently published an article on this subject in the April 2007 issue
of the CPA Journal.
During our careers, Radin Glass partners have consulted on numerous mergers and
acquisitions, including:
• Business combination and acquisition transactions ranging from $1 million to
over $1 billion
• Acquisitions and sales of US and foreign companies
• Planning for the accounting effect of acquisitions under Financial Accounting
Standard 141,
Business Combinations
• Audit and issuance of reports on financial statements of acquired companies as
required under
SEC Regulation S-X
• Consulting as to appropriateness of earn-out formulas
• Computation of the federal and state tax effects for both sellers and buyers
• Determination for both sellers and buyers of alternative economic effects of a “taxable” or
“non-taxable” transactions to maximize tax efficiency
• Evaluation of whether the acquisitions are “Reorganizations,” and therefore tax- deferred,
under Section 368 of the Internal Revenue Code
• Tax planning for acquirers in taxable transactions or transactions utilizing
338(h)(10) election
for deductibility of amortization under Section 197
Radin Glass brings to any proposed business acquisition or disposition a
professional accounting and tax team with the expertise to evaluate all sides
of a transaction concurrently, which frequently is difficult in large firms.
For transactions in which we are not involved at the time of sale, we evaluate
the payments under the earn-out provisions, often accompanying our client
’s counsel to arbitration proceedings where there has been a dispute. If we are involved from the outset, we strive to have our agreements drawn up to
be clear and accurate. If there is a dispute, we work to settle them.
All transactions involving mergers and acquisitions require seasoned
professionals with specific skills and many years of M
&A experience. At Radin Glass, we are able to bring this experience to any transaction as we
work with buyers, sellers, counsel, finders and financers.
