Embark, a Dallas-based financial advisory and consulting firm that also performs accounting services, has expanded to Phoenix and Salt Lake City this year in the midst of the novel coronavirus pandemic.
The firm was founded in 2010 and has grown considerably in recent years. It made the Inc. 5000 list of the fastest-growing companies for the third year in a row, moving up 700 spots from the previous year. The company has grown from two dozen employees to 130 in the past three years. It expanded to Salt Lake City this month and plans to open in Phoenix in September. The firm’s revenue was $17 million last year, and it expects to hit $24 million this year.
Embark provides services such as technical accounting and external reporting. While it’s not a CPA firm and doesn’t perform audit work, it helps “facilitate” audits with services such as developing supporting schedules and reconciliations, providing test selections, responding to audit inquiries and drafting footnote disclosures.
“We’re a finance and advisory consulting firm, so we do not do any audits,” said David McGuire, strategic accounts practice leader at Embark. “We don’t really do tax work or valuation work. We’re strictly helping our clients with a variety of finance and accounting topics, so we specialize in technical accounting, external reporting and various forecasts, along those lines.”
The firm also helps clients and partners with accounting services and implementations. “We’ll do control and process improvements, so a lot of that is just geared toward basic day-to-day tasks for accounting companies,” said McGuire. “And as they grow and resources become scarce for whatever reason, or if our customer has a transaction, we can also fill those roles to provide whatever assistance they need to get the job done.”
He compares Embark to advisory firms like CFGI and Riveron. Embark mostly hires Big Four CPAs...
To continue reading the rest of this article or watch the video interview click here.