Cherry Bekaert

Cherry Bekaert LLP (formerly Cherry, Bekaert & Holland L.L.P.) is the second largest certified public accounting firm headquartered in the Southeast United States and was awarded Forbes list of America’s Best Tax and Accounting Firms 2021.[1] With offices located in Maryland, Virginia, Washington, D.C., Florida, Georgia, North Carolina, Rhode Island, Texas, Tennessee, and South Carolina,[2] Cherry Bekaert ranks in the top 25 US accounting firms.[3] Employing over 1,250 professionals, Cherry Bekaert reported revenues of $220 million in 2019.[4]

Cherry Bekaert LLP
TypeLimited Liability Partnership
IndustryProfessional services
Founded1947 (1947), Wilmington, North Carolina
HeadquartersRichmond, Virginia
Area served
Southeast United States
Key people
Michelle L. Thompson (Firm Managing Partner & CEO)
ServicesAudit
Tax
Assurance
Wealth Management
RevenueUS$220 million (2019)
Number of employees
More than 1,250 (2019)
Websitecbh.com

Cherry Bekaert LLP is a founding member of Baker Tilly International,[5] a network of 122 member firms in 146 territories worldwide.[6]

History
Cherry Bekaert office in Greenville, South Carolina

Cherry Bekaert began in 1947 as a small practice in Wilmington, North Carolina, led by Harry Cherry.[7] Charles Bekaert and William Holland joined the Firm in 1952 and 1953 respectively.[8] The Firm moved into the Richmond, Virginia, area in 1988, eventually relocating the corporate headquarters to Richmond from Charlotte in 1991.[9]

In February 2013, Cherry Bekaert & Holland launched a strategic rebranding initiative under the new name of Cherry Bekaert LLP. As part of the rebranding, Cherry Bekaert introduced its new tagline, "Your Guide Forward."[10]

Beginning May 1, 2018, Michelle Thompson succeeded Howard Kies as Cherry Bekaert's Firm Managing Partner and Chief Executive Officer.[11] Howard served as the firm's CEO and Firm Managing Partner for 27 years prior to Michelle's appointment.

In January 2019, Cherry Bekaert announced its second expansion into the Austin market with the acquisition of Flieller, Kruger & Skelton.[12] The firm's first introduction into the Austin market occurred in early 2018 with the acquisition of Powell, Ebert & Smolik, one of the largest local CPA firms that served Austin and Central Texas.[13] Cherry Bekaert’s Austin presence is now among the largest catering to the Austin market with eight Partners and more than 65 associates providing a full suite of assurance, tax and advisory services.

In February 2020, Cherry Bekaert LLP announced the acquisition of Icimo, LLC,[14] a leading data analytics and services firm, that builds profitable relationships between business users and their data. Based in the Raleigh, icimo analytics, by Cherry Bekaert brought more than 25 technology professionals. In April 2020, Cherry Bekaert Expands Credits & Incentives Resources and Capabilities with the acquisition of the Tax Advantage Group (“TAG”)[15] focused on New Markets Tax Credits funding. In July 2020, the firm acquired PMB Helin Donovan,[16] growing its Austin-based practice to 13 partners and more than 75 associates. The Firm’s combined Austin practice will now be among the six largest CPA and consulting firms serving the area.

Services

Industries

Cherry Bekaert LLP is divided into ten industry groups, including:[2][5][21]

  • Government Services[22]
  • Government Contractors[23]
  • Healthcare & Life Sciences[24]
  • Industrial Manufacturing[25]
  • Not-for-Profits[26]
  • Private Equity[27]
  • Professional Services[28]
  • Real Estate & Construction[29]
  • Hospitality & Retail[30]
  • Technology[31]

Accolades

Cherry Bekaert has been recognized as one of the "Best Places to Work" by job search site Vault.com;[32] Inside Business in Hampton Roads, VA;[33] Triangle Business Journal in Raleigh, NC;[34] and Tampa Bay Business Journal in Tampa Bay, FL.[35] Tableau Software, the leader in visual analytics, on February 26, 2020 awarded Icimo Analytics, by Cherry Bekaert the 2019 Partner of the Year for the Americas – Creating Customers for Life Award.[36]

References
  1. Cherry Bekaert a 2021 America’s Best Tax and Accounting Firm by Forbes https://www.forbes.com/best-tax-firms/#4c9725cb24bd
  2. "Locations". Cherry Bekaert. Retrieved Aug 16, 2019.
  3. Cherry, Bekaert (March 8, 2019). "Accounting Today Top 100 Accounting Firms". Retrieved March 8, 2019.
  4. "Why Cherry Bekaert". Cherry Bekaert. Retrieved Aug 16, 2019.
  5. Hoovers, Cherry, Bekaert & Holland, L.L.P.
  6. International, Baker Tilly. "A leading network of like-minded independent accountancy and business advisory firms - Baker Tilly International". www.bakertillyinternational.com.
  7. Star News, July 11, 1971 Names that made the news in SENCland
  8. "Cherry, Bekaert & Holland Celebrates 60th Anniversary as a Firm". Archived from the original on July 8, 2011. Retrieved Aug 16, 2019.
  9. Charlotte Observer - September 12, 1991 - 1D BUSINESS, ACCOUNTING FIRM WILL MOVE TO RICHMOND
  10. "Cherry, Bekaert & Holland Rebrands". blog.insidepublicaccounting.com. Retrieved Aug 16, 2019.
  11. "Cherry Bekaert Announces Firm Leadership Changes". Cherry Bekaert. Retrieved Aug 16, 2019.
  12. "Cherry Bekaert Expands Presence in Austin Market". Cherry Bekaert. Retrieved Aug 16, 2019.
  13. "Cherry Bekaert Enters Austin Market with Strategic Acquisition". Cherry Bekaert. Retrieved Aug 16, 2019.
  14. "Cherry Bekaert Expands Digital Advisory Capabilities with Acquisition of Icimo, LLC". Cherry Bekaert. Retrieved 2021-02-08.
  15. "Cherry Bekaert Expands Credits & Incentives Resources and Capabilities with Acquisition of the Tax Advantage Group ("TAG")". Cherry Bekaert. Retrieved 2021-02-08.
  16. "Cherry Bekaert Strengthens Presence in Austin Market with Acquisition of PMB Helin Donovan". Cherry Bekaert. Retrieved 2021-02-08.
  17. "Assurance - Tax, Audit and Advisory Services". www.cbh.com.
  18. "Advisory - Tax, Audit and Advisory Services". www.cbh.com.
  19. "Tax - Tax, Audit and Advisory Services". www.cbh.com.
  20. "Home - Cherry Bekaert Wealth Management LLC". www.cbh.com.
  21. "Industries - Tax, Audit and Advisory Services". www.cbh.com.
  22. "Government - Tax, Audit and Advisory Services". Cherry Bekaert.
  23. "Government Contractors - Tax, Audit and Advisory Services". www.cbh.com.
  24. "Health & Life Sciences - Tax, Audit and Advisory Services". www.cbh.com.
  25. "Industrial - Tax, Audit and Advisory Services". www.cbh.com.
  26. "Not-for-Profits". Archived from the original on 2014-12-11. Retrieved 2014-12-10.
  27. "Private Equity - Tax, Audit and Advisory Services". www.cbh.com.
  28. "Professional Services - Tax, Audit and Advisory Services". www.cbh.com.
  29. "Real Estate & Construction - Tax, Audit and Advisory Services". www.cbh.com.
  30. "Retail & Restaurants - Tax, Audit and Advisory Services". www.cbh.com.
  31. "Technology - Tax, Audit and Advisory Services". www.cbh.com.
  32. "Cherry Bekaert LLP-Company Profile-Vault.com".
  33. "CB&H's Hampton Roads Practice Voted "Best Place to Work" for Second Consecutive Year". Archived from the original on July 21, 2012. Retrieved Aug 16, 2019.
  34. www.bizjournals.com https://www.bizjournals.com/triangle/stories/2008/09/29/focus6.html. Retrieved 2021-06-24. Missing or empty |title= (help)
  35. www.bizjournals.com https://www.bizjournals.com/tampabay/stories/2009/03/09/daily22.html. Retrieved 2021-06-24. Missing or empty |title= (help)
  36. "Icimo Analytics by Cherry Bekaert recognized by Tableau Software". Cherry Bekaert. Retrieved 2021-02-08.
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