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REDW Software Solutions Launches SEFA Pro™

Abila MIP Add-on Module Helps Streamline Grants Management and SEFA Preparation

REDW Software Solutions, the team of business software professionals at REDW LLC, one of the Southwest’s largest and fastest-growing public accounting and business consulting firms, is excited to introduce SEFA Pro™. This grants management software solution, exclusively from REDW, is designed to help governments – including Tribes and their enterprises – as well as not-for-profit entities, streamline the process for producing accurate SEFA and other grants management reports.

The Schedule of Expenditures of Federal Awards (SEFA) is a critical document that entities must prepare for audits of federal awards. According to Mustafa Kamal, REDW Principal and REDW Software Solutions Practice Leader, “SEFA Proâ„¢ enables organizations to track federal funds the right way – backed by the right reporting. It eliminates the manually cumbersome, error-prone method of collecting all relevant information from different sources and ensures all the information is produced directly from Abila MIP to present to the auditor.â€

Corrine Wilson, REDW Principal and National Tribal Practice Leader, added, “As the provider of accounting services to more Native American Tribes and their tribal entities than any other U.S. accounting firm,  we’ve frequently seen that many Tribes struggle to submit a complete SEFA report because they are so complex.

The danger,†she continued, “is that, if they don’t report their expenditures correctly, they may incur audit findings and increased audit fees. Moreover, inefficient grants management can lead to over-expenditures.” Wilson added that some clients have had to return millions of dollars in grants, or have been unable to collect receivables from old awards because of mistakes and ill-timed reconciliations throughout the fiscal period.

The SEFA Proâ„¢ module is incorporated into existing Abila MIP Fund Accounting software and draws information from Grant Administration, one of the Core Abila MIP modules. Once setup is complete, SEFA Proâ„¢ is easy to maintain; all updates are included as part of the product’s annual support and maintenance. SEFA Proâ„¢ also helps to create relevant grant reconciliations throughout the year, and at year-end.

For More Information or a Demonstration

For additional information about SEFA Proâ„¢ or other software solutions and services, please contact Mustafa Kamal at mkamal@redw.com or 505.998.3423. On March 19, 2020, beginning at 9:00 a.m. PT, the REDW Software Solutions Team is presenting a complimentary, one-hour webinar to demonstrate SEFA Proâ„¢. To register for the live webinar or to view an on-demand recording available the next day, click here.

 

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REDW Honors 2019 Native American Accounting Scholars at Tribal Finance and Leadership Conference

Albuquerque, NM – November 27, 2019 – REDW LLC, one of the Southwest’s 10 largest public accounting and business consulting firms, recognized and honored two new REDW Native American Scholars in Accounting at the REDW 10th annual Tribal Finance and Leadership Conference in Las Vegas on November 14.

Jessica Coriz (Pueblo of Ildefonso) and Jasmine Jishie (Navajo) are both pursuing graduate degrees in Business at New Mexico Highlands University and will complete their studies in 2021.

REDW partnered with the American Indian Graduate Center (AIGC) earlier this year to implement a scholarship program investing in higher education for Native students in the field of accounting. The firm has operated for more than 60 years in New Mexico and Arizona, specializing in providing services to Native American Tribes and tribal enterprises.

According to Jasmine Jishie, “We need more Native American accounting and finance professionals. I will be forever thankful that REDW was able to invest in my education so I can make a difference in my community. I plan to use my degree to become an auditor so I can better my Nation.†Jasmine is working toward her MBA in Accounting. She graduated Magna Cum Laude with her Bachelor of Arts in Business Administration with a focus in Tribal Management and Economic Development from Diné College.

Jessica Coriz is working toward an MBA in Business Administration. She received a Bachelor of Business Administration with an emphasis in Accounting from New Mexico Highlands University, and earned an Associate in Business Administration from Southwestern Indian Polytechnic Institute.

“We’re proud and honored to congratulate Jasmine and Jessica as the 2019 REDW Scholarship recipients,†said Corrine Wilson (Ft. McDermitt Paiute-Shoshone Tribe of Nevada), REDW Principal and National Tribal Practice Leader. “Through their hard work and determination, these young women have proven why they are so deserving of this recognition and financial support. We were very happy to welcome them at our firm’s Tribal Leadership and Finance Conference this year in Las Vegas, so they could interact with Indian Country financial and governance leaders.

“Establishing this scholarship is important to REDW, and it has a special meaning to me personally. Through the work we’ve done with tribal governments and their enterprises for more than three decades, we understand first-hand how a scholarship given to someone wanting a career in accounting and finance can benefit not only the individual student, but can ultimately enrich the quality of life for a tribal community.â€

“We are incredibly proud of Jasmine and Jessica,†said Angelique Albert, Executive Director of the American Indian Graduate Center. “Our scholars have the opportunity to attain higher education, better their lives, and give back to their tribal communities. They are the inspiration and motivation for the work that we do.â€

REDW has long supported AIGC through financial donations and the personal volunteerism of its team members. Additional information on AIGC scholarship and eligibility requirements is available at https://www.aigcs.org/scholarships-fellowships.

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REDW Adds Bench Strength to Its Tax Practice – Welcomes Veteran Carl Harper

Albuquerque, NM – November 11, 2019 REDW LLC, one of the Southwest’s 10 largest public accounting and business  advisory firms, is pleased to announce the addition of Carl Harper, CPA as Tax Senior Manager in the firm’s Albuquerque office. Carl will play a significant role in advising individual and business clients.

Carl brings more than 40 years of experience in public accounting, serving the tax needs and concerns of businesses across the United States, including construction, real estate development, light manufacturing, retail, wholesale, and professional services industries. He also has extensive experience serving nonprofit organizations.

Carl understands and supports tax planning for pass-through entities, including partnerships, S-corporations, and limited liability companies. His unique skill set also encompasses bankruptcy taxation, having served as a Special Master to the Second Judicial District Court (Bernalillo County).

Carl decided to join REDW to ensure the complex and ever-evolving needs of his clients are met efficiently, now and into the future. “REDW has long been respected as one of the premier certified public accounting and business advisory firms in the Southwest,†Carl said. “It is a privilege to join a team that offers the right combination of expertise, talent, full-service and regional resources, client focus, and culture and values.â€

“Carl’s many years of demonstrated commitment to client service makes him an excellent fit for REDW’s team,†said REDW Managing Principal Steve Cogan. “This is a positive step for the firm. Carl brings a unique set of talents to our growing tax and commercial practice.â€

Formerly with Pulakos CPAs, Carl is a member of the American Institute of Certified Public Accountants (AICPA) and the New Mexico Society of Certified Public Accountants (NMSCPA), where he has served on the IRS-CPA Tax Liaison Committee and as Chair of the Taxation Committee. He has authored and taught Continuing Professional Education (CPE) tax classes to CPAs for many years.

Carl is also committed to giving back to his community, and has served as treasurer for several charitable organizations. He served three terms on the Board of Education for the Rio Rancho Public School District, including six years as the School Board’s President. Carl was inducted into the Rio Rancho Public Schools Hall of Honor in 2019.

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REDW Phoenix Office Unveils Freshly Renovated Office Space

Phoenix, AZ – October 28, 2019 – The Phoenix office of REDW LLC, one of the Southwest’s largest and fastest-growing public accounting and business consulting firms, recently unveiled a newly modernized workspace that affords both a productive workplace and an environment that fosters openness, collaboration and flexibility.

According to Mike Allen, REDW Principal, “Nationwide, the business landscape is undergoing a major change. Today’s employees want to communicate and cooperate more easily with others both inside and outside the organization.â€

Sandy Abalos, REDW Principal added: “Our updated offices combine leading-edge technology with light-filled, open and adaptable workspaces. At the same time, the new environment emphasizes collaboration and communication – two of the time-honored values of the REDW culture.â€

Located in the Camelback Corridor of Midtown Phoenix, the firm’s offices occupy 17,500 square feet. Offices along the perimeter of the space have clear glass fronts, and strategically placed conference rooms will accommodate groups of four to 30 people. The workspace also includes “touchdown rooms†for small, impromptu meetings or to accommodate team members without assigned desks. And because well-earned fun is also part of the REDW culture, the spacious, remodeled break room now features an island specially equipped with power outlets to support the firm’s team breakfasts and taco parties.

“Bright, talented professionals are attracted to REDW because our environment has historically provided opportunities for growth and advancement,†said Allen. “We think our modernized workspace will fulfill our team members’ needs for on-the-job communication, collaboration and flexibility – critical requirements for retaining top talent. “

“REDW was a great client and partner in the design process,†said Cheyne Brown, Interior Design Project Manager, Senior Associate with Corgan, a Phoenix-based architecture and design firm. “REDW leadership was not only open to new ideas, but also confident in their team’s needs, so we were able to find the right balance in the design of their office. Together, we were able to create a vision for their space that helped them change the way they worked.â€

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FASB Delays Effective Date for Lease Accounting Standard

On October 16, the Financial Accounting Standards Board unanimously approved delaying implementation of new lease accounting standard, giving privately held organizations additional time to prepare.

The new lease standard became effective for public companies in January 2019, and was scheduled to go into effect in January 2020 for private companies and nonprofits. A delay was proposed in August, 2019, following complaints about the difficulties of dealing with the transition and implementing the new standard. FASB determined that private companies preparing for the transition would benefit from an additional year in which they could learn from watching how public companies have implemented the rule.

The new effective date for private companies and nonprofits is the fiscal year starting after December 15, 2020. Companies starting their fiscal year in January will have an effective date of January 1, 2021.

The FASB plans to issue a final accounting standard update containing this decision in mid-November.

Questions about implementing the new lease accounting standards for your organization? Please contact Dean Willingham, 505.998.3218, or Michael Jacobson, 602.730.3611.

 

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REDW LLC Named a Top Public Accounting Firm in U.S.

REDW LLC, one of the Southwest’s 10 largest public accounting and advisory firms, is pleased to announce that it has been named as one of the country’s Top 200 Firms for 2019 by INSIDE Public Accounting in its annual benchmarking of the accounting profession.

REDW ranked as 120th among the 200 largest U.S. public accounting firms, moving up two spots from 122 in 2018. REDW is the only firm in the state of New Mexico to make the Top 200, and 2019 marks the 10th consecutive year that it has appeared in the Top 200.

Considered a respected and authoritative analysis of firms throughout the industry for nearly 30 years, the Top Firms report presents an overall picture of the demographics and growth of the accounting profession. The Top 200 Firms publication IPA 200 ranks firms from No. 101 ($39 million) to No. 200 ($19.2 million). The list includes firm headquarters, managing principal, net revenue, ranking in the previous year and percentage change. INSIDE Public Accounting compiles rankings from data gathered in the annual IPA Survey and Analysis of Firms, which attracts participation from 550 firms.

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REDW Wealth Launches New Website and New Look

REDW Wealth LLC, an SEC-registered investment advisory firm subsidiary of REDW LLC, is pleased to announce that it has launched a new website, designed to deliver improved client access and educational content. The website will continue to focus on topics pertaining to individual, family and business financial planning and wealth management, while also offering services to institutions such as retirement plan advisory, fiduciary training, and corporate financial wellness and education.

Visitors can now send questions and comments directly to a wealth advisor via the Contact link on every page. “Our clients and other visitors will notice a significant improvement in our user friendliness and overall web experience,†said Paul Madrid, Principal and Head of REDW Wealth.

In the next quarter, the website will add free planning tools for Social Security and risk assessment, enabling visitors to start the process of thinking about future goals before they meet with a wealth advisor. “We consider this an added value to our clients,†said Madrid. “Meaningful exchanges and conversations all contribute to a collaborative relationship, where we can act to support a client’s position and interests, whatever may arise.â€

For more than 20 years, REDW Wealth has successfully advised some of the wealthiest individuals and families in the Southwest, as well as tribal entities, foundations and corporate clients to build and protect their wealth. To learn more about REDW Wealth, visit our site at REDWWealth.com.

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REDW Wealth Ranked in Registered Investment Advisors for 2019 by Financial Advisor

REDW Wealth LLC is pleased to announce that it has received a recognition from the accounting and financial services industry. Financial Advisor lists REDW Wealth as #369 among the top firms by assets under management in their 2019 RIA Ranking.* REDW Wealth manages over $662 million in assets for its clients.

REDW Wealth is the only firm in New Mexico included in the $500 million to <$1 billion category.

“More and more clients are becoming interested in services outside of traditional investment management,†stated Paul Madrid, Principal and Head of REDW Wealth. “We get requests for tax planning and retirement planning, and other services such as business succession planning. Since our values start with putting our clients’ needs and interests first, it is only natural that we have designed our services to support them.â€

For more than 20 years, REDW Wealth has successfully advised some of the wealthiest individuals and families in the Southwest, as well as tribal entities, foundations and corporate clients, to build and protect their wealth. To learn more about REDW Wealth, visit REDWWealth.com.


*Financial Advisor’s Registered Investment Advisor (FA’s RIA) survey is a ranking based on assets under management at year-end of independent RIA firms that file their own ADV with the SEC. FA’s RIA ranking orders firms from largest to smallest, based on AUM reported to us by firms that voluntarily complete and submit FA’s survey by our deadline. Not all RIA firms applied, and not all who applied met FA’s criteria. We do our best to verify AUM by reviewing ADV forms. To be eligible for the ranking, firms must be independent registered investment advisors and file their own ADV statement with the SEC and provide financial planning and related services to individual clients. Firms must have at least $300 million in assets under management as of December 31, 2018 to be included in the print edition of Financial Advisor magazine’s RIA survey. Firm will under $300 million will be included the FA’s expanded online RIA survey.

This award does not evaluate the quality of services provided to clients and is not indicative of the practice’s future performance. It does not represent a client endorsement. Neither the RIA firms nor their employees pay a fee to Financial Advisor in exchange for inclusion in the 2019 RIA Ranking, nor was membership in any organization required.

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REDW Principal Mike Allen Appointed to Arizona State Financial Literacy Task Force

REDW LLC, one of the Southwest’s 10 largest public accounting and business consulting firms, is pleased to announce that Audit & Assurance Principal Mike Allen, CPA, has joined Arizona Treasurer Kimberly Yee’s Financial Literacy Task Force. The mission of the Task Force is to advance financial literacy throughout the state of Arizona, ensuring all Arizonans have the opportunity to attain proficiency in basic money management.

Arizona State Treasurer Kimberly Yee, who has throughout her career led a statewide effort to require financial education in schools, appointed Allen to the task force. “A cornerstone of my administration is advancing financial literacy so Arizonans can attain financial freedom,†said Yee. “It is my hope that individuals, from our young students in the K-12 system to seniors and veterans who are on fixed income budgets, have an opportunity to attain a better understanding of how they manage their money.â€

Mike Allen added, “At REDW, financial literacy is a topic we discuss with our team members, our clients, and the communities in which we live. We believe that by transferring the basic skills of money management that Treasurer Yee has identified, we will improve the lives of all the people we serve. Under Treasurer Yee’s leadership, I believe this task force can have a real impact. I am honored an eager to serve such an important initiative.â€

The State Treasurer’s Financial Literacy Task force will examine the landscape of financial literacy across Arizona’s communities, and identify and explore opportunities for improvement. Its 15 members will meet on a quarterly basis starting on June 25, 2019.

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REDW Wealth Ranked in Top 150 Leading CPA Financial Planners by Accounting Today

REDW Wealth LLC is pleased to announce that it has received a recognition from the accounting and financial services industry. Accounting Today lists REDW Wealth among the top 150 firms by assets under management in The 2019 Wealth Magnets: Top CPA Firms by AUM.* REDW Wealth manages nearly $663 million in assets for its clients, and also received this recognition in 2018 as REDW Stanley Financial Advisors LLC.

“It all starts and ends with the client, said Paul Madrid, Principal and Head of REDW Wealth. “Our core values start with putting their interests first, a practice that is supported firm wide by our leadership and our culture. Our team specializes in knowing what is important to clients, and then designing our services to support them.â€

Accounting Today received submissions from more than 200 firms for its 13th annual ranking. REDW Wealth is the only firm in both New Mexico and Arizona in the $500-million-plus category.

For more than 20 years, REDW Wealth has successfully advised some of the wealthiest individuals and families in the Southwest, as well as tribal entities, foundations and corporate clients to build and protect their wealth. To learn more about REDW Wealth, visit REDWWealth.com.

*Accounting Today Disclosure:

For the 13th annual ranking of CPA firms by assets under management, Accounting Today received submissions from over 200 firms. Such a large number of firms means, among other things, wide diversity in practice structure and in the information submitted. In most cases, firm names are those of the financial planning subsidiary, not the affiliated CPA firm. Firms have reported either their overall chief executive, or the leader of the planning practice. For simplicity’s sake, we have listed both under “chief executive,” though many bear different titles. In cases where a leader was not identified, we identified the leader of the planning practice from public sources (usually the firm’s website). Many firms gave a date for the AUM figure they submitted; these varied widely, from the date of submission to a recent quarter-end, but in no case was it earlier than year-end 2018.

In cases where a planning firm is a subsidiary or affiliate of a larger CPA firm, reporting practice varies: Some report staff and office figures for just the subsidiary, some just for the overall CPA firm, and some for both. In cases where we had a choice, we published figures from just the planning subsidiary. In addition, while most of the chief executives listed lead the planning practice, in some cases firms reported the managing partner of the larger CPA firm.

This award does not evaluate the quality of services provided to clients and is not indicative of the practice’s future performance. It does not represent a client endorsement. Neither the CPA firms nor their employees pay a fee to Accounting Today in exchange for inclusion in the AT 150, nor was membership in any organization required.

Notes: Data provided by Audit Analytics, a premium online intelligence service that delivers audit, regulator and disclosure analysis to the accounting community. Reach them at (508) 476-7007, www.auditanalytics.com, or info@auditanalytics.com.

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