10.30.2015 | Long Island Business News
Joseph Reinhardt, CPA, an audit partner at the Jericho office of Berdon LLP and Chair of the firm’s Employee Benefit Plan and Labor Union Practice, has more than 30 years of experience in public accounting.
Reinhardt assists clients in strengthening operations, meeting regulatory requirements, and planning for growth and development. His wide array of clients includes employee benefit plans, labor organizations, and manufacturers and distributors as well as nonprofits, professional service firms, and high net worth individuals.
Reinhardt leverages his deep understanding of the requirements and expectations that union and employee benefit plan trustees and administrators must meet to help them fulfill their fiduciary obligations. With a sharp eye on mitigating risks, he analyzes client operations and identifies ways to strengthen internal controls, reduce or mitigate risks, and help ensure compliance with regulations.
With the hurricane season upon the region, Reinhardt prepares his team to be able to respond to emergencies.
“Lessons learned from previous disasters have resulted in most larger firms storing back-up data off-site, so that little could be lost from any physical disaster,” Reinhardt said. “However, to be fully prepared for disaster, you must address the possibility of both physical destruction and the loss or theft of private information – particularly in the age of the cyber-criminal. Both can cause havoc.”
Noting that the best defense is preparation, Reinhardt said procedures must be in place to protect physical assets and financial information. “Since disaster is unpredictable, you must also be prepared for recovery,” he said. “It is prudent to have a disaster recovery team in place with designated responsibilities. These people will know their duties when the time comes and will be your front line to speed up the recovery process.”
“A business resumption plan should also be in place that features an organizational chart with critical information such as employee’s phone numbers, assignments, special training needs, and other data essential to get the firm going with the minimum of down time, Reinhardt explained.
“To further safeguard client financial information, we introduced a secure portal to facilitate the delivery of tax returns and for secure file exchanges,” noted Reinhardt.
Reinhardt also represents clients at Department of Labor and IRS examinations and monitors developments in Washington to stay on top of pending DOL changes and their impact on clients. He has provided expert testimony before the ERISA Advisory Council, testified in Federal Court, and served as a guest speaker at the International Foundation of Employee Benefit Plans Annual Conferences.
Reinhardt is a member of the American Institute of Certified Public Accountants, New York State Society of Certified Public Accountants, and the International Foundation of Employee Benefit Plans. A graduate of Hofstra University, he holds a Bachelor of Business Administration degree in accounting and is licensed as a CPA in New York. He is an associate member of the Association of Certified Fraud Examiners and holds the Chartered Global Management Accountant designation of the AICPA.
He has authored several articles on financial topics facing employee benefits that have appeared in various publications, including Benefits Magazine, and has been called upon by broadcast media to provide expert commentary. In addition, he has testified in United States District Court-Eastern Region and has provided expert testimony before the ERISA Advisory Council.
Berdon LLP is consistently ranked by trade and consumer publications among the nation’s top CPA and advisory firms. With nearly 400 professionals and staff – at offices in Jericho and New York City – clients can access a comprehensive array of accounting, tax, financial, and management advisory services. Through its specialized expertise and dedicated service teams, Berdon advises on almost every aspect of a business at any stage of development – from startup through growth, diversification, and succession. If needs cross international borders, Berdon service extends worldwide through membership in TIAG, a global alliance of more than 110 independent accounting firms in over 60 countries, as well as its sister alliance of independent law firms, TAGLaw.