Accounting firm MaloneBailey LLP has named David Forrest as audit partner and Stan Raines as tax partner.

The firm has also created a Private Company Practice Team dedicated to developing the private company audit and tax practices. Together, Forrest and Raines will lead the new team.

Forrest has 25 years of combined public and private company auditing and management experience. He began his career at KPMG but most recently spent more than 20 years at Scott, Forrest, Adams & Co., PLLC, where he provided audit and tax compliance services for companies in real estate, governmental and non-profit and other industries.

Raines brings a decade of experience in accounting and tax services. He joined MaloneBailey in 2008 as a tax manager and played a central role in developing the firm’s tax department. Prior to joining MaloneBailey, Raines serviced clients at Grant Thornton and Gainer Donnelly & Desroches, LLP.

“Forrest and Raines are integral members of the MaloneBailey team whose expertise and deep knowledge of complex tax and audit services will be an invaluable resource to the PCPT,” said MaloneBailey managing partner Wesley Middleton.

Raines’ promotion is effective immediately and Forrest’s promotion went into effect Dec. 1, 2009.