Sarbanes-Oxley gives rise to new accounting service providers

Recall that Sarbanes-Oxley banned accounting firms from providing consulting services to their audit clients--for good reason. That gave rise to a new group of service providers. The need to handle risk assessments, tax-related consulting and IT-related work, among other things. One firm that has distinguished itself is Smart Business Advisory, based in the Philadelphia area. Great Hill Partners, a private equity firm, just sunk $60 billion into the business, which is in hyper growth mode. There are a host of competitors. Huron Consulting Group, which was formed by refugees from Arthur Andersen. Navigant Consulting, Protiviti, a unit of recruiter Robert Half International, and FTI Consulting. Most of the established companies are looking to expand by acquisition. We'll likely see some roll-ups emerge soon enough.   

For more:
- here's an article from the Philadelphia Inquirer