May 2025 Recap: Accounting Industry Firm Updates in 10 Mins

The accounting profession isn’t standing still, and May 2025 proved it. In just one month, we saw a wave of firm mergers spanning coast to coast, major service launches tackling AI and HR transformation, and a slate of leadership moves signaling where the industry is headed next. Whether it's mid-sized players joining forces, global firms investing in cyber and compliance, or local leaders stepping up to the national stage, each development hints at a profession actively reshaping itself for the future. In this fast-paced recap, we break down the month’s biggest firm-level updates across three headlines. Whether you're a partner, a principal, or just passionate about where the industry is going, you’ll find actionable insights right here.

M&A Updates

Eide Bailly Expands Southern California Footprint With Acquisition of Hamilton Tharp LLP

Eide Bailly has made a strategic move into Solana Beach, California, by acquiring Hamilton Tharp LLP—a firm renowned for tax planning and family office services for high-net-worth clients. With over 45 years of community trust and personalized service, Hamilton Tharp adds both depth and local credibility to Eide Bailly’s expanding California operations. The acquisition underscores Eide Bailly’s focus on targeted growth and its continued investment in serving affluent clients with specialized financial needs… Read More.....

Sorren Emerges as a Unified Force in Accounting Through Nationwide Firm Merger

A network of like-minded accounting firms has officially joined forces to form Sorren, a new national firm with private equity backing and big ambitions. Built on long-term relationships and a shared vision, Sorren brings together regional players under a common identity while expanding its reach across the U.S. and into global markets. With over 1,000 professionals and a growing international presence, Sorren aims to set a new model for growth, unity, and innovation in the accounting profession… Read More.....

Sensiba Expands Global Cybersecurity and Risk Capabilities with Acquisition of AssuranceLab

Sensiba’s acquisition of Australia-based AssuranceLab marks a significant global play in cybersecurity and compliance services. With coverage across the Americas, APAC, EMEA, and more than 2,300 tech-driven clients, the merger introduces a new era of tech-enabled, high-quality audits. Both Certified B Corps, the firms share a mission-driven approach and a commitment to ethical business, transparency, and modern risk assurance. The combined strength brings a client-first ethos and innovative audit models into new regulatory frontiers… Read More.....

CTM CPAs & Business Advisors Merges with Withum to Expand Midwest Presence and Franchise Expertise

Withum’s merger with Lincolnshire-based CTM CPAs significantly strengthens its footprint in the greater Chicago area and bolsters its franchise sector expertise. CTM’s four partners and 50+ professionals bring a people-first approach and deep industry specialization, aligning seamlessly with Withum’s dynamic client service model. For CTM, the move offers greater technology, services, and scale, accelerating growth opportunities for clients and younger talent alike. The merger is being hailed as a powerful strategic match for both sides… Read More.....

Dembo Jones Joins CLA to Expand D.C. Presence

CLA has added over 80 professionals to its roster with the acquisition of Dembo Jones CPAs, reinforcing its presence in the Washington, D.C. metro area. This move supports CLA’s $1 billion growth-through-acquisition strategy while maintaining Dembo Jones’ 70-year legacy of excellence in serving government, nonprofit, and business clients. CLA’s integration approach allows firms to retain local identity while benefiting from national scale, ensuring continuity for clients and expanded resources for specialized services… Read More.....

Armanino Enters Utah Market With Addition of Cooper Savas Team

Armanino has officially entered the Utah market by welcoming the Salt Lake City–based Cooper Savas team. Known for its high-touch, boutique service and Big Four-caliber talent, Cooper Savas enhances Armanino’s national footprint and commitment to client-centered solutions. The firms share a cultural alignment focused on innovation, quality, and growth. With access to Armanino’s broader platform, Cooper Savas is positioned to offer more robust services and unlock new opportunities for its people and clients… Read More.....

People Updates

Herbein CEO David Stonesifer Installed as President of PICPA

David Stonesifer, CEO of Herbein + Company, has been named the 2025–2026 president of the Pennsylvania Institute of CPAs (PICPA), reinforcing his deep influence within the profession. With three decades of experience and a strong history of PICPA involvement, Stonesifer’s leadership arrives at a pivotal time for the industry. His agenda focuses on nurturing the next generation of CPAs and elevating member engagement, while serving as PICPA’s public-facing voice across key events and policy discussions… Read More.....

Grant Thornton Appoints New Industry Practice Leaders for Asset Management, Energy, and Healthcare

Grant Thornton has refreshed its industry leadership, appointing Shona O’Hea, Tyler Jones, and Scott McGurl to lead the asset management, energy, and healthcare sectors, respectively. Each brings decades of industry experience and a clear mandate to drive innovation and specialized service across global markets. From capital markets to compliance and care delivery, these new leaders are positioned to help clients navigate growing complexity in their sectors with precision and purpose… Read More.....

Forvis Mazars Invests in Future of the Firm with Leadership Appointments

As Forvis Mazars nears the first anniversary of its global rebrand, the firm is reinforcing its leadership bench by promoting 33 new partners and 28 managing directors. This next-gen leadership class reflects a firmwide investment in stewardship, mentorship, and values-aligned growth. With 7,000+ team members and a partner-led structure, Forvis Mazars is doubling down on building sustainable leadership for the long term… Read More.....

CohnReznick Appoints Melissa Walker to Lead Data & AI Practice

Melissa Walker has joined CohnReznick as managing director of its Data & AI practice, bringing over 20 years of experience in technology strategy and P&L leadership. Based in New York, Walker will help clients turn secure, scalable data infrastructure into a competitive advantage. Her appointment signals CohnReznick’s deepening focus on digital transformation as it expands advisory services to support long-term innovation and operational performance… Read More.....

Mike Voinovich Joins Schneider Downs as Audit Shareholder in Columbus Office

Schneider Downs has named Mike Voinovich audit shareholder in its Columbus, Ohio, office, adding an executive-caliber advisor to its leadership team. A former CFO with decades of public accounting experience, Voinovich’s perspective bridges finance strategy and client advisory. His appointment reflects the firm’s commitment to recruiting versatile, respected leaders who can guide clients through complex challenges across industries… Read More.....

KEB Names Jennifer Zipprich Partner in O’Fallon Office

KEB has promoted Jennifer Zipprich to partner in its O’Fallon, Illinois, office, recognizing her nearly two decades of excellence in tax services and client care. Known for her proactive planning and deep expertise in estates, trusts, and small business tax, Zipprich exemplifies KEB’s culture of technical skill and personal connection. Her elevation to partner highlights the firm’s continued investment in homegrown leadership and personalized client service… Read More.....

Service Updates

Deloitte and HRCI Launch HR Academy to Advance Workforce Skills

Deloitte has teamed up with HRCI to launch a new HR Academy aimed at upskilling CHROs and their teams amid today’s fast-evolving workplace dynamics. As part of the broader Deloitte Academies platform, this initiative merges Deloitte’s advisory strengths with HRCI’s certification-driven approach. The goal? Scalable, certification-ready learning that adapts to workforce challenges and strengthens strategic HR capabilities. With a strong emphasis on professional development and practical insight, this Academy sets the tone for how HR teams can stay future-ready in a dynamic business environment…Read More.....

KPMG Introduces AI Trust Services to Address Governance and Risk in AI Adoption

KPMG has rolled out “AI Trust,” a new suite of services developed with ServiceNow to help businesses embed governance into every stage of their AI adoption lifecycle. Built on KPMG’s Trusted AI framework and powered by the ServiceNow AI Control Tower, this offering targets pressing enterprise concerns like compliance, data privacy, and ethical oversight. With trust in AI still lagging—only 46% of global users express confidence—KPMG’s latest move aims to establish scalable, responsible systems that align innovation with accountability… Read More.....

Final Figures, Fresh Moves, and What’s Next

From new firm formations to AI-driven service launches and future-focused leadership promotions, May 2025 showcased an industry in motion. Mergers reflect a trend toward scale with purpose. The service updates spotlight how firms are responding to fast-changing client needs. And the people move? They’re all about building leadership benches that can handle what’s next—technology, talent gaps, and transformation at scale. As you scroll through these updates, ask yourself: How is your firm evolving? Which trend could reshape your strategy? Be sure to click through for the full stories and stay tuned, June’s shaping up to be just as pivotal. One email. All the moves that matter. Subscribe to MYCPE ONE Insights.