CliftonLarsonAllen

CliftonLarsonAllen LLP (known as CliftonLarsonAllen or CLA) is a professional services network and the eighth largest[3] accountancy firm in the United States. It was established in 2012 with the merger of two U.S. firms: Clifton Gunderson LLP (based in Milwaukee, Wisconsin) and LarsonAllen LLP (based in Minneapolis, Minnesota).[4] It is a member of the Nexia International accounting network.[5]

CliftonLarsonAllen LLP
TypeLimited liability partnership (LLP)
IndustryProfessional services
Founded2012; merger of Clifton Gunderson (1960) and LarsonAllen (1953)
Key people
Denny Schleper, CEO
ServicesAudit
Accounting
Tax
Consulting
Advisory
Revenue US$865 million (2019)[1]
Number of employees
6,100 (2019)[2]
Websitewww.claconnect.com

History

Clifton Gunderson LLP was the 14th largest accounting firm in the U.S. in 2010,[6] and the largest member firm of HLB International until it left that network in 2012 after the merger with LarsonAllen.[5] The merger occurred January 2, 2012. The decision to affiliate to Nexia rather than HLB International was taken after the merger.[5] Kris McMasters and Gordy Viere became the first co-CEOs of CLA,[7] with Viere also serving as the CEO of CLA Holdings.[8] McMasters retired April 1, 2013, leaving Viere as sole CEO.[7] Denny Schleper became the CEO of CLA in January 2015 after Viere retired. [9]

In September 2013, CLA agreed to pay a $35,100,000 settlement on the audit of the City of Dixon, Illinois. CLA had performed the audit for many years, but CLA had failed to recognize fraud committed by the city's controller Rita Crundwell that amounted to nearly $54 million.[10] In addition, the firm was fined by the Illinois Department of Financial and Professional Regulation.[11]

References
  1. "Accounting Today" (PDF). Bloomberg. p. 12. Archived from the original (PDF) on October 26, 2018. Retrieved March 4, 2019.
  2. "Schenck Team Joins CLA to Bring Expanded Resources to Clients: CLA (CliftonLarsonAllen)". www.claconnect.com.
  3. Accounting Today Top 100 Firms 2018, Accounting Today, 2018. Retrieved April 16, 2018.
  4. Clifton Gunderson, LarsonAllen to Merge, Create Top 10 Firm, Journal of Accountancy, November 2, 2011. Retrieved July 11, 2012.
  5. "Nexia secures CliftonLarsonAllen". International Accounting Bulletin. February 23, 2012. Archived from the original on February 9, 2013. Retrieved July 11, 2012.
  6. "Accounting Today's Top 100 Firms 2011". Archived from the original on August 4, 2012. Retrieved July 25, 2012.{{dl|date= May 2019
  7. Krista McMasters, CliftonLarsonAllen Co-CEO, Announces Retirement, AccountingWeb, March 19, 2013. Retrieved 2013-04-04.
  8. "Clifton Gunderson, LarsonAllen Complete Merger". Clifton Gunderson. January 3, 2012. Archived from the original on February 2, 2012. Retrieved July 11, 2012.
  9. CLA’s Viere Passes the Leadership Torch to Schleper Accounting Today, January 2, 2015.
  10. Jenco, Melissa (September 25, 2013), "Dixon to get $40 million in settlement of embezzlement case", Chicago Tribune, retrieved August 24, 2016
  11. Illinois Department of Financial and Professional Regulation News, page 2. February 2015.
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