Marks Paneth & Shron has merged with Schneider & Associates, adding four new partners to its Woodbury, N.Y., office.

Two venerable Chicago accounting firms have merged.

Following a flurry of mergers throughout 2007, many top-drawer consultants in the accounting profession believe that this year will be just as active — and that foretells myriad changes for firms of all sizes.“I feel that [M&A activity is] hitting rapid proliferation moving forward,” said Gary Shamis, managing director of Ohio-based SS&G Financial Services. “And it’s going to become more significant in this year.”

Accounting firm Sanford Baumeister & Frazier has acquired the CPA practice of Kent Altaras for an undisclosed sum as Altaras prepares for retirement.

Gilman Ciocia has acquired Edward W. Halleran Accounting & Tax Service.

Accounting firm Watson Rice said it has entered into a partnership agreement with Thompson, Cobb, Bazilio & Associates, effectively merging the two firms.

CPA firms Lazard Dana LLP and Deemer Davidson Prather PC have merged, changing their name to Deemer Dana & Froehle LLP.

Deloitte Financial Advisory Services has acquired certain assets of Barrasso Consulting, a firm that specializes in data collection and document review for litigation discovery programs.

South Florida accounting firms Goldstein Schechter Price Lucas Horwitz & Co. and Koch Reiss & Co. have merged.

The International Accounting Standards Board has issued a revised version of its standards for accounting for business combinations such as mergers and acquisitions, in coordination with the Financial Accounting Standards Board, in a move that will highlight the expenses of business combinations that used to be considered assets.

Anchin, Block & Anchin LLP has merged with H.J. Behrman, adding 26 accounting and tax professionals to Anchin's roster and building the firm's real estate practice.

Adding to its continuing professional education portfolio, Thomson Tax & Accounting has acquired AuditWatch, a high-profile audit training and process improvement consulting firm headquartered here.Terms were not disclosed. The deal became official Nov. 15.

A new wealth management firm is launching as a result of a merger between Yampolsky Mandeloff Silver Ryan and Citrin Cooperman & Co. LLP.

Glass Jacobson, a wealth management and CPA firm, has acquired Finkelstein & Geser, another firm also based in Owings Mills, Md.

Accounting firm Beard Miller Co. has combined with Edwards Sauer & Owens, a Pittsburgh-based CPA firm that will build BMC's presence in central and western Pennsylvania.

Parente Randolph has merged with Boyle, Brogan, Shusman & Nicastro, expanding Parente's office space and clientele in South Jersey.

Banking giant HSBC USA has said it would sell its Wealth and Tax Advisory Services USA business to some of its managing directors for up to $65.9 million as part of a management buyout.

Accounting firm Weaver and Tidwell said it planned to merge with Patterson, Newman & Associates on Jan. 1, allowing Weaver and Tidwell to expand its energy practice.

Snodgrass, Dunlap and Co. plans to merge its office in Iola, Kan., with Jarred, Gilmore & Philips, an accounting firm based in Chanute, Kan., on the first of the year.

Kahn, Litwin, Renza & Co. said it is merging in Daniel Ryan & Co. on Jan. 1, adding between 10 and 16 professionals to its staff and giving KLR more expertise in tax planning.