Houston, TX, April 2, 2013 - MaloneBailey, LLP, a global public accounting firm based in Houston, Texas, announced today that it has reached a milestone in its 31 year history with 150 SEC-reporting clients, most of which are microcap companies – more than it has ever had before. Only the six largest accounting firms have more SEC reporting clients than MaloneBailey and those include BDO USA, LLP, Deloitte & Touche LLP, Ernst & Young LLP, Grant Thornton LLP, KPMG LLP, and PricewaterhouseCoopers LLP.
MaloneBailey is in elite company as one of only nine CPA firms in the world that require an annual inspection by the PCAOB; all other firms are inspected every three years. The Sarbanes-Oxley Act requires the PCAOB to conduct annual inspections for firms that regularly provide audit reports for more than 100 issuers. The nine annually inspected firms include, BDO USA, LLP, Crowe Horwath LLP, Deloitte & Touche LLP, Ernst & Young LLP, Grant Thornton LLP, KPMG LLP, MaloneBailey, LLP, McGladrey & Pullen, LLP and PricewaterhouseCoopers LLP.
Crowe Horwath LLP and McGladrey Pullen LLP, two of the top nine firms that rank below MaloneBailey, LLP in terms of client count, have 109 SEC reporting clients and 137 SEC reporting clients, respectively.
“There is no other firm that has the microcap expertise, the bandwidth and efficiencies that we have. This momentous milestone is a testament to those niche capabilities and qualifications coupled with an aggressive strategic marketing campaign that is comprehensive in scope. For these reasons, we look forward to our continued growth as a market leader in the SEC audit environment.” said John Malone, JD, CPA, founding partner at MaloneBailey, LLP.
Our internal market and economic analysis indicates that microcaps as a group have not been doing well because of the ‘credit crunch’ which began with the losses by many lending institutions in 2009 from bad mortgage lending practices.
Malone adds that, “microcaps seem to be the last to be funded when capital is tight. Such ‘crunch’ has continued, but there are recent signs of it easing, including our consistent client count growth and recent milestone.”
Currently, MaloneBailey’s client mix includes companies in a variety of industries but with many in energy, manufacturing, high technology and mining. MaloneBailey’s clients are located in more than 25 states and eight countries.
Steven Vertucci, CPA, Audit Partner at MaloneBailey, LLP, explains that “we believe our approach sets us apart from our competitors as our laser focus on SEC auditing enables us to provide the increased quality that SEC and PCAOB demand while still maintaining our fees and turn-around time at the lowest reasonable levels.”
MaloneBailey’s SEC Audit Practice dates back to 1996. At that time, MaloneBailey had two SEC clients. By early 2001, MaloneBailey’s client count had grown to 13 SEC clients. To serve the growing SEC practice niche, MaloneBailey instituted a number of changes to the standard CPA firm practice model to maximize the efficiencies that the smaller SEC companies require: lower costs, faster service and more competent work product.
Today, MaloneBailey has 5 SEC-qualified audit partners serving smaller public companies on a full time basis, spreading their time between their base in Houston and their satellite offices in New York, Beijing and Shenzhen, China. MaloneBailey staff also work on SEC audit work full time. MaloneBailey participates in more than 600 SEC filings per year and has more dedicated SEC specialists on staff than most firms have SEC clients.
Based in Houston, Texas and with offices in New York, Beijing and Shenzhen, MaloneBailey is an international public accounting firm with deep knowledge and experience in the delivery of SEC audit services to small and mid-cap publicly traded clients with over 150 registrants as clients, including NYSE and NASDAQ listed companies. MaloneBailey, LLP is a member of Nexia International. For more information about MaloneBailey, visit www.malonebailey.com.