McKonly & Asbury LLP and BMC Announce
Sale of Financial Outsourcing Solutions Practice
Camp Hill - Beard Miller Company LLP (bmc) and McKonly & Asbury LLP jointly announce today
that bmc will sell its Financial Outsourcing Solutions (FOS) practice to McKonly & Asbury, effective
January 1, 2007.
The Financial Outsourcing Solutions group provides internal auditing and compliance services primarily
to financial institutions. Any services currently provided by bmc FOS will be transferred with the sale to
McKonly & Asbury. In addition, FOS staff, including Partner Tom Strause, will be retained by
McKonly & Asbury.
“We are pleased to enter into this agreement with McKonly & Asbury. This transaction allows the FOS
practice to continue to grow and provide the exceptional service bmc clients have come to expect,”
commented Lamar Stoltzfus, Chairman and Chief Executive Partner for bmc. “Additionally, our clients
will benefit from this arrangement because they now will be able to work with Tom and his team for their
internal audit needs, where they previously may not have had this option.”
Current independence regulations restrict many companies from using the same accounting firm to
provide both external audit and internal audit services. Growth of the FOS group was limited by these
restrictions, given the growing number of financial institution audit clients in bmc’s portfolio.
“This is an exciting step forward for McKonly & Asbury and a great example of cooperation between
two of the strongest professional firms in our region – sharing a common goal – excellent service to our
clients,” commented Terry Harris, Managing Partner of McKonly & Asbury. “Providing internal audit
services, especially to the financial services industry, is one of our core practice areas. It is an area we
have focused on growing in a strategic fashion. Adding FOS further strengthens our team.”
About McKonly & Asbury LLP
McKonly & Asbury LLP is a leading regional accounting and consulting firm with over 100
employees and 40 CPAs. The firm has offices in Camp Hill , PA and Lancaster , PA. McKonly
and Asbury is ranked by the Central Penn Business Journal as the 2 nd largest accounting firm
in Central Pennsylvania and named a 2006 All-Star by Inside Public Accounting , ranking
McKonly & Asbury as one of the ten fastest growing accounting firms in the nation. Four years
running, McKonly & Asbury has been named a Best Place to Work in PA by The Best
Companies Group. McKonly & Asbury is an independent member of IGAF Worldwide.
For more information please contact Jim Rodgers at 717.761.7910 or by email at