Worcester Business Journal

wbjournal.com | September 2, 2024 | Worcester Business Journal 17 On September 17, join us at Polar Park where firehouses from around the city will compete to create dishes to be judged by a panel of local business leaders. You'll be able to sample all the dishes—and cast your own vote for the People's Choice prize! PARAGUSIT.COM GE T YOUR TICKE TS TODAY AT FIREHOUSECO OKOFF.COM! This year we are proud to be raising money for Worcester 6K Charity and DetecTogether. Let's beat last year's record of $20,000! WORCESTER'S HOTTEST EVENT OF THE YEAR RETURNS SCAN QR CODE TO LEARN MORE W Accountant and auditor statistics Wages and employment for accountants and auditors Greater Worcester Massachusetts United States Median hourly wage $38.77 $42.26 $38.41 Mean hourly wage $43.97 $47.77 $43.65 Anual mean wage $91,460 $99,360 $90,780 Employment per 1,000 jobs 7.774 11.642 9.455 Note: BLS defines Greater Worcester as Worcester County, Massachusetts, and Windham County, Connecticut. Source: U.S. Bureau of Labor Statistics, Division of Occupational Employment and Wage Statistics onerous pathway to licensure. For example, to be eligible for the CPA exam, candidates must complete 150 credit hours of college education, 30 credit hours more than the standard bachelor's degree. is requirement, enacted in 1988 by the American Institute of Certified Public Accountants, has resulted in fewer CPAs entering the accounting profession, especially for individuals of color. In fact, a study titled "Occupational Licensing and Minority Participation in Professional Labor Markets" published in January by the Journal of Accounting Research found a 26% decline in entry for Black and Hispanic CPAs and a 14% decline for nonminority CPAs since the 150-credit hour enactment. On the buyer's side of an acquisition, Donah said firms are motivated by the opportunity to increase their market share, a goal shared by Citrin. Citrin's acquisition of S&G comes as the firm is in the process of expanding its service footprint throughout New England. "We're really excited about the Worcester market," said Ken Kirkland, president of non-attest core services at Citrin Cooperman Advisors. "ere's going to be some great growth there, and we want to be a part of that growth when it comes; so being able to get a platform and have an office like S&G to join us, it's just helping us accelerate our strategy." Moral overhead ough client and systemic needs were the driving forces behind S&G's hunt for acquisition, the firm prioritized workplace culture when screening for potential acquirers. "e way we approached family-first with our team, that was critical in terms of making sure that what we do for our team is what Citrin was doing, which they are. e work ethic, clients are important and that was something that was valuable to us. An integrity behind the work that they were doing was important to us. ey checked all the boxes for sure," said Goldstein. Like S&G, a culture fit is a first and foremost priority for Citrin when Can we create a CUSTOM magazine for you? Whether it's the celebration of a major anniversary or the opening of a new headquarters, Worcester Business Journal's Custom Publishing Division can help you create a custom magazine for your business. Our division's top flight team of writers and designers can help you tell your story – and make your business look great! Based on our unique publishing model, it's surprisingly affordable. Call WBJ Custom Corporate Project Director Christine Juetten at 508-755-8004 ext. 270. Worcester Business Journal WBJ Custom Publishing Division L A W & A C C O U N T I N G F O C U S "Being able to get a platform and have an office like S&G to join us, it's just helping us accelerate our strategy." Ken Kirkland, president of non-attest at Citrin Cooperman Advisors looking to acquire, said Kirkland. In fact, if workplace morals aren't lining up during initial acquisition talks, most times Citrin doesn't even look at the economics before turning away. Kirkland sat in on original conversations with S&G when the firms were diving into talks about who they are and how they operate to see if they should continue forward in the process. is ethos fit meant the firm Citrin joined had to be okay with letting employees go to their children's school plays in the middle of the aernoon. It meant it had to be okay if they came in late because they were dealing with a sick family member or were on bereavement leave. S&G needed to find an acquirer who would be there for employees just as its founding partners were, and Citrin fit the bill, Goldstein said. "In my world, everyone's the same. ere's no hierarchy. It was important that that was instilled in the organization that we joined, and it was," said Goldstein.

• Cover