Cleveland, Ohio (September 24, 2003) -- Sarbanes-Oxley law's stiff standards for internal audits and other aspects of financial reporting by public companies has prompted accounting and business services provider Century Business Services to acquire HarborView Partners, a Stamford, Conn.-based internal audit and business services provider.
Cbiz has had a partnering relationship with HarborView over the past two years.
"Internal auditing is a necessity for most companies right now, as managing the risks associated with achieving business objectives is critical in the current business environment," said HarborView founder Mike Corcoran. "This merger makes sense for us," he added, noting that Century, also known as CBiz , has "national presence" and "expertise in an array of industries."
In recent months, Cleveland-based CBiz and HarborView have been helping public companies meet Sarbanes-Oxley's internal audit requirements and the law's mandated 404 reports on internal controls. In a recent edition of Accounting Today, CBiz finance vice president Chris Spurio said the two organizations have collaborated on at least two 404 engagements and are "looking for opportunities."
CBiz chief executive Steven L. Gerard said that acquiring HarborView enables his company "to grow internal audit and Sarbanes-Oxley 404 services and more fully utilize our existing resources to provide an expanded level of service." CBiz, which built its national reputation as a consolidator of accounting firms in the late 1990s, ranks ninth on Accounting Today's Top 100 Firms report..
-- John M. Covaleski
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