CFO Consulting Partners

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CFO Consulting Partners in the News

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First National Bank of Chester County (West Chester, PA): Eric Segal was recently named the Interim CFO and Principal Accounting Officer for this $1.3 billion bank. Some of Eric’s principal roles are to restate and/or issue applicable SEC reports (such as 10-Q’s, 10-K’s) and to produce documents that meet certain bank regulatory requirements. First Chester is in the process of merging with Tower Bancorp. “Being an interim CFO for a company in the process of being acquired is a typical role provided by CFO Consulting Partners,” says Eric. See http://www.implu.com/releases/2010/20100304/37637/implu_viewer for more information.

NYS Society of CPAs (NYSSCPAs): Allan Tepper has been named Chairman of the Banking Committee of the NYSSCPAs for the 2010/2012 years. Allan has been a member of the NYSSCPAs for over 25 years and a Banking Committee member since 2008. Please visithttp://viewer.zmags.com/publication/5fb9dae8#/5fb9dae8/8 for more information.

Financial Executives Networking Group: Marc Engel has been named Chairman of the Internal Audit Special Interest group. He was previously Chairman of the Litigation Services Committee at the New York State Society of CPAs. Seehttp://www.crainsnewyork.com/article/20100328/FREE/303289992 for more information.

AccountingWeb: Marc Palker has recently written an article, “A day in the Life of an Interim CFO” that was published in the  AccountingWeb.com. Marc covers such topics as SEC reporting, cash management, and biggest challenges. See  http://www.accountingweb.com/topic/accounting-auditing/day-life-interim-cfofor more information.

Accountant/Attorney Networking Group: On Thursday October 14, 2010, Marc Palker was elected Executive Vice President of this group. This is a networking group for Accountants and Attorneys.  See www.aangny.org for more information.

Dodd-Frank Wall Street Reform and Consumer Protection Act

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As most of our readers know, The Dodd-Frank Wall Street Reform and Consumer Protection Act was signed by President Obama on July 21, 2010. This financial reform will introduce a myriad of changes to financial regulation, which raises the question: what are the implications of this act to You?

Many articles have been written, but the three following links provide what CFO Consulting Partners believes is a comprehensive examination by three organizations dedicated to the needs of financial and banking executives.

In the opinion of Allan Tepper, Chairman of the Banking Committee of the NYSSCPAs and co-founder of CFO Consulting Partners LLC, the Act should help avoid a similar banking crisis, and is thus a net plus to our financial system and, by extension, to our economy. However, regulations alone cannot replace the exercise of sound judgment on the part of bank officers whose vision may sometimes become clouded by the profit motive.

Financial Executives International

The Trusted Professional Professional, a newspaper published by the NYS Society of CPAs

New Jersey Banker Fall 2010 Issue, pg. 20

SEC Issues Revised SOX Compliance Date for Smallest Reporting Firms

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On October 2, 2009, the SEC approved an additional extension for companies with a public float of $75 million or less. The extension moves the compliance date to June 15, 2010, meaning that companies must comply with Section 404 requirements for periods ending on or after that date.  No further extensions will likely be granted. You can view the SEC press release concerning this matter in its entirety at the following click here.

 

CFO Consulting Partners Welcomes New Members to the Team

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CFO Consulting Partners is pleased to announce the following new additions to its team:

Keith Barber, MBA

Keith will be providing financial management consulting services to banks on a wide range of financial, strategic, and regulatory issues. Prior to joining CFO Consulting Partners, Keith was Controller of a Credit Card Start-Up (now Barclaycard US), CFO of American Express Bank, and Controller of a major Citibank division. Keith has an M.B.A. from London Business School and a B.S. in Economics from the London School of Economics.

Marc Engel, CPA, CISA, CBA, CFE

Marc will be focusing on providing internal audit and Sarbanes-Oxley services to both financial and non-financial companies. Marc was formerly the Director of Audit and Control at Marsh & McClennan Companies, Inc. and Director of Internal Control at Kroll, Inc. He has a B.S. from Lehman College of City University of New York.

Eric Segal, MBA

Eric will be providing financial management consulting services to financial institutions on a wide range of financial, strategic, and regulatory issues. A former CFO of Spencer Savings Bank, Ameriprise Bank FSB, and American Express Consumer Banking, Eric has extensive experience in financial services. He holds a B.A. in Liberal Arts from Carnegie Mellon University and an M.B.A from Pace University.

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