Introducing MNP’s new Accounting Advisory Services
National Leader Bijan Toufighi explains MNP’s new offering and the firm’s evolution from Transaction Advisory Services.
We’re excited to introduce MNP’s Accounting Advisory Services — previously known as Transaction Accounting Advisory Services. Our new name reflects the full scope of the support our team provides to our clients, including setting up new accounting frameworks, filling resource gaps, and executing mergers, acquisitions, and divestitures.
Our team collaborates with other service areas across the firm to provide comprehensive solutions to the complex accounting needs of our clients. We recently sat down with Bijan Toufighi, National Accounting Advisory Services Leader, to discuss our Accounting Advisory Services line and learn more about his perspective as a leader.
What is Accounting Advisory Services?
The Accounting Advisory Services team is here to provide comprehensive solutions for the accounting and financial reporting needs of our clients. Our team members have extensive experience in accounting standards, regulatory business processes, and best practices.
We use our experience to support our clients with their complex accounting needs — including mergers and acquisitions, implementing new accounting frameworks, and meeting regulatory requirements. These are events that don’t take place every day and many clients don’t have the experience to navigate the process alone. We’re here to provide the support and advice they need along the way.
Our Accounting Advisory Services team collaborates with the other service lines at MNP to offer support to our clients in four main areas:
- Technical accounting advisory — Our team helps clients navigate significant transactions, new accounting standards, and frameworks. We also help our clients address the impact of those changes on their financial reporting mandates and overall business goals.
- Going public — We provide support for clients who are taking their company public. Our team helps them develop strategies, establish deliverables, and prepare financial information to meet strict regulatory requirements. Additionally, we can provide ongoing support for day-to-day accounting or regulatory compliance needs through collaborating with MNP’s ease Bookkeeping and Cloud Accounting and Enterprise Risk Services teams.
- Mergers, acquisitions, and divestitures — Our team helps our clients plan and execute mergers, acquisitions, and divestitures. Some examples of the support we provide include guidance on accounting and financial reporting throughout the process. Additionally, we work with MNP’s Corporate Finance, Tax, and Valuation advisors to meet the needs of each client.
- Financial reporting advisory — We provide support to ensure our clients meet all financial reporting mandates, such as preparing for an audit or improving financial reporting processes. We work in collaboration with MNP’s Enterprise Risk Services and Digital Services team to implement solutions that add the most value to our clients’ business.
Assurance and Accounting
What is your role at MNP and what drives you?
I’m the National Leader of MNP’s Accounting Advisory Services and work with team members across the country to meet the unique accounting needs of our clients.
The accounting world has become more and more complex over the last few years — and the complexity is only going to increase in the future. I like solving problems and feel driven to help make the lives of our clients easier so they can focus on their day-to-day operations.
Why did you choose to work in the accounting advisory services profession?
I’ve always had a passion for accounting because it’s a profession that’s always evolving. I see accounting as the language of the business world — and the business world is very complex. On the accounting advisory side, we really get to help our clients understand and navigate through that complexity to achieve their goals.
Every client faces unique challenges in their business. I enjoy finding solutions to their problems — and seeing how it helps reduce their stress and gives them more time to focus on what is important to them.
What are your clients’ biggest challenges and how do you help them navigate those issues?
I think when our clients run into a challenge, it’s usually a multi-faceted issue — not simply an accounting issue. If a company is entering an acquisition, they might need support with the valuation of assets or help understanding the tax implications in addition to their accounting needs. It’s difficult for a business to get all that expertise internally.
The strength of our Accounting Advisory Services team is that we have the ability to collaborate with other service lines at MNP to solve those complexities. We have partners across the country with a wide spectrum of experience in Tax Services, Enterprise Risk Services, and more so we can help them solve all those challenges — not just their accounting issues.
