Long Island-based accounting firm Fuoco Group has merged in AIB Forensics to create a new forensics division and expand the firm’s footprint beyond the Northeast.
[IMGCAP(1)]As a result of the merger, the firm is forming Fuoco Fraud & Forensics LLC, which will do business as Fuoco Forensics, a division of Fuoco Group. Financial details were not disclosed.
The new division will focus on analyzing, interpreting, summarizing and presenting complex financial and business-related disputes resulting from legal proceedings, financial investigations, and mediation. Alan I. Blass, CPA, CFE, will be joining Fuoco Group as director within the new forensics division.
“Alan will greatly enhance our forensic and litigation support experience,” said Fuoco Group managing partner Lou J. Fuoco, CPA, in a statement. “Alan brings not only a depth of expertise, but an entrepreneurial spirit to our firm.”
[IMGCAP(2)]The merger with AIB Forensics is expected to expand Fuoco Group’s forensic accounting and litigation support services beyond its current focus in the metropolitan New York area and the Northeast to the Southeast, especially Florida.
Fuoco Group's annual revenue is $13 million, but the merger is expected to increase the firm's revenue significantly over the next few years as it expands its ligitation and fraud services. AIB Forensics did not disclose its 2011 revenue. The transaction too effect on August 1.
Fuoco Group is a member of the BDO Seidman Alliance.
