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Tuesday, Nov. 16, 2021

Faithful Accounting

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Heard, McElroy & Vestal celebrate 75 years

Former President John F. Kennedy once said, “To state the facts frankly is not to despair the future nor indict the past. The prudent heir takes careful inventory of his legacies and gives a faithful accounting to those whom he owes an obligation of trust.”

For the past 75 years, the firm of Heard, McElroy & Vestal (HMV) has served its clients with what Kennedy described as a faithful accounting.

Founded in 1946 by S. Berton Head, Charles McElroy and Charles Vestal in Shreveport, the firm offers certified public accounting and business advisory services across north Louisiana. With offices in Shreveport and Monroe, the company offers tax planning and preparation, audit and assurance, business valuation and retirement plan services for companies and individuals.

Seventy-five years is an impressive legacy for any business, and Roy Prestwood, CPA and partner in charge of the tax department of HMV, explained the company’s longevity:

“The longevity of our firm is supported by the foundation set by our founders and the leaders that served our clients long before now. We have employed the very best professional and support staff that believe in and put into practice our mission statement: Building relationships and providing opportunities for our clients, our people and our communities.”

According to HMV’s website, the firm has been an integral part of the growth of the business communities throughout north Louisiana and is in its third generation of leadership. Boasting over 100 employees, 16 partners, eight “of counsel” partners, three senior managers, 18 managers, 48 professional staff and 27 administrative staff, the firm is one of the largest in the area serving clients in Louisiana, Arkansas, Texas, Mississippi, Oklahoma and Tennessee.

The organization is divided into several groups. The accounting services group provides accounting services to individuals, families and businesses. The audit group offers financial reporting and consulting based on the unique needs of client businesses. HMV also provides business valuation analysis for litigation, tax-related valuations and capital transactions, among others.

The retirement plan group consults with employers on all phases of the planning for their employee needs. The tax group maintains currency in tax law and offers tax solutions for clients’ specific needs. The transition and exit planning group provides guidance in determining the direction a business wants to take.

Prestwood said, as usual, businesses and individuals are facing constant changes in tax law and regulation in the coming months. “Our line of business faces constant change from tax law and regulatory changes to new accounting and auditing pronouncements to external forces like a pandemic. It is not what changes occur, but how you deal with them. If our focus remains on our clients, our people and our communities, HMV can weather any storm.”

According to Prestwood, the company mission statement, “Building relationships and providing opportunities for our clients, our people and our communities,” is integral to the longevity of the firm. “Building relationships between the stakeholders – our clients, our people and our communities – is the most critical part of our mission statement, and this cannot be done effectively for one without the other two stakeholders, which guide all decisions and actions taken by our firm leaders. At HMV, our mission statement is our culture. When you couple our mission statement with the very best professional and support staff that is committed to providing great client service and experience, success is sure to occur.”

To celebrate their anniversary, the company implemented what it calls a six-month service initiative. It has scheduled a monthly event ranging from donation drives to volunteer activities. In late October, company employees volunteered at 10 different organizations for six hours to give back to the communities.

In a release announcing the effort, partner Walker Coburn stated, “For 75 years our firm has been committed to the North Louisiana communities, so we felt it only fitting to celebrate HMV’s birthday by rolling up our sleeves and joining forces with local nonprofits to make our area a better place. We have a generous and committed workforce who got behind our service initiative and we all had a lot of fun making an impact on the community in which we live, work and play.”

For more information about HMV and its services, you can contact them at (318) 429-2070 or visit their website at www.hmvcpa.com.

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