Marcum LLP and Bernstein & Pinchuk LLP Merge China Practices

Combined Firm to Be Only PCAOB-Reviewed Middle-Market Accounting Firm with Significant, on-the-Ground Resources in China

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Marcum LLP

Dec 09, 2010, 09:13 ET

NEW YORK and BEIJING, Dec. 9, 2010 /PRNewswire/ -- Marcum LLP, one of the largest independent public accounting and advisory services firms in the nation, and Bernstein & Pinchuk LLP, one of the largest middle market, PCAOB-reviewed auditors in China, have merged their China practices to create Marcum Bernstein and Pinchuk LLP, effective January 1, 2011. As a result of the merger, China-based, middle-market, publicly-traded companies or those undergoing transitions to U.S. stock exchanges will now have access to the greatest depth of localized SEC expertise, integrity and resources through more than 75 highly qualified, U.S. GAAP and SEC trained professionals in China. The firm has offices in Beijing, Guangzhou, Hangzhou and Hong Kong, with coordinated services throughout the world. Terms of the deal were not disclosed.

"Expanding Marcum's international footprint throughout China is a significant opportunity for our firm. Middle-market companies will now have access to the capabilities and credibility that our Top 10 SEC practice brings, with unparalleled localized insights into Chinese culture and business practices," said Jeffrey M. Weiner, Managing Partner of Marcum LLP. "There is a clear absence of firms like ours in China for U.S.-listed companies that Marcum Bernstein and Pinchuk is now best positioned to fill, with the same level of integrity, expertise and personalized service all of our clients receive and deserve."

Marcum Bernstein and Pinchuk is the only PCAOB-reviewed firm with significant, on-the-ground resources in China outside of the "Big Four" accounting firms. The new practice will be headquartered in Beijing.

"We continue to see an increasing trend of Chinese companies that are looking to the U.S. markets to raise capital and are excited to offer our combined solution to the Chinese marketplace," said Drew Bernstein, Co-Managing Partner of Bernstein & Pinchuk. "Over the past 10 years, we have developed a top-quality team in China, building an extensive local presence and deep relationships with companies that look to us to deliver the highest standards in auditing services and transactional support. By adding the capabilities and resources of Marcum, we have the ability to ensure our clients receive an even greater level of service and support."

About Marcum LLP

Marcum LLP is one of the largest independent public accounting and advisory services firms in the nation. Ranked 15th among the "Top 100 Firms" by Inside Public Accounting, Marcum offers the resources of more than 1100 professionals, including 150 partners, in 21 offices throughout New York, New Jersey, Connecticut, Pennsylvania, Florida, Massachusetts, California, Hong Kong and Grand Cayman. Marcum is a member of the Marcum Group, the gateway to a group of organizations that provide a variety of professional services including accounting and advisory, technology solutions, recruiting, and wealth management. These organizations include Marcum LLP; MarcumRachlin, a division of Marcum LLP; MarcumStonefield, a division of Marcum LLP; Marcum Technology LLP; MarcumBuchanan Associates LLC; Marcum Search LLC and Marcum Financial Services LLC. For more about Marcum LLP, visit www.marcumllp.com.

About Bernstein & Pinchuk LLP

B&P provides a full range of audit and assurance, tax and transaction advisory services for clients in a variety of industries throughout the world. With offices in New York, Beijing, Guangzhou, and Hangzhou, B&P provides the expertise, cultural understanding and support needed to efficiently serve and advise our clients. B&P currently provides services to over 30 clients in the China market. For more information please visit www.bpaccountants.com.

SOURCE Marcum LLP