In response to Sarbanes-Oxley and increased attention from the National Association of Insurance Commissioners (NAIC), Brown Smith Wallace of St. Louis, an accounting and consulting firm, is expanding into the Chicago market.
“The Chicago team, which will be located 200 South Wacker Drive, will serve the firms’ insurance and reinsurance clients in the upper Midwest,” says Brown Smith Wallace Managing Member Jeffrey Smith, CPA. “We believe the Chicago market has great potential for growth and expansion.”
The regulatory audit requirements in the insurance and reinsurance industry are becoming more stringent, requiring additional audits and resources on each engagement, according to Larry Pevnick, CPA, member-in-charge of the firms’ insurance audit group.
The downtown Chicago office will be staffed by Evan Bennett, an insurance and reinsurance auditor, with more than 20 years’ experience and Carol Stricker, who has almost 30 years’ experience, including 11 at insurance firms in Chicago.