2 local accounting firms join nationwide association
MULTIBILLION-DOLLAR deals would not happen without them. Individuals of high net worth could become mere paupers without good ones.
Without them, guitar-slinger, singer and songwriter Joe Walsh would have had no one to mention in the lyric, "I live in hotels, tear out the walls -- I have accountants pay for it all."
Despite their vital roles, certified public accountants probably still suffer the slings and arrows of pocket-protector and Pan Am bag jokes.
Two Hawaii CPA firms have joined the BDO Seidman Alliance, a nationwide association of independently owned, local and regional accounting, consulting, business and technology companies that serve public and private companies. BDO Seidman is itself an independent member of BDO International, whose member firms have 600 offices in 99 countries around the world.
That is potentially a lot of leverage.
Honolulu-based Kobayashi, Doi & Lum CPAs LLC, with offices in Honolulu and Wahiawa, and Hilo-based Taketa, Iwata, Hara & Associates LLC are the only two-Hawaii-based firms in the alliance, according to its Web site.
"Our client base here on Oahu is increasingly exploring business opportunities in other domestic markets and foreign countries," said Alan Kobayashi, managing partner of Kobayashi, Doi & Lum, in a statement. "The BDO Seidman Alliance allows us to better serve these clients as they expand regionally, nationally and globally, while maintaining our autonomy."
It is also no secret that some big-dollar-mover-shaker types with complex financial needs have taken up secondary residence on the Big Island, where Taketa, Iwata, Hara, et al are located.
Member firms benefit from BDO's supplementary professional services in management consulting, expertise, customized computer systems and training programs as well as support for marketing and human resources.
"For businesses that grow, or individuals who have wealth that expands ... we're now able to provide greater services," said Mark Matsuo, Kobayashi, Doi & Lum member.
The Sarbanes-Oxley accounting changes have sent many companies looking for additional outside help with compliance and reporting requirements and "we can step in and provide some of those services," said Matsuo.
is a reporter with the Star-Bulletin. Call 529-4302, fax 529-4750 or write to Erika Engle, Honolulu Star-Bulletin, 500 Ala Moana Blvd., No. 7-210, Honolulu, HI 96813. She can also be reached at: email@example.com