Daily Independent (Ashland, KY)

January 20, 2014

CPA firms to merge July 1

New name will be Kelley Galloway Smith Goolsby, PSC

Tim Preston
The Independent

ASHLAND — The leaders of Ashland’s largest CPA firms have announced they will join forces this summer.

Phil Layne, CPA, and Steve Kanouse, CPA, managing directors of Ashland’s two largest CPA firms, announced Friday the firms will merge their practices effective July 1, operating under the name of Kelley Galloway Smith Goolsby, PSC.

Smith, Goolsby, Artis & Reams, PSC, which was founded in 1968, and Kelley, Galloway & Co., PSC, founded in 1950, are now a pair of independently owned CPA firms providing services including tax, audit, consulting and compliance services to individuals, small- to medium-sized businesses and organizations, primarily in Kentucky, Ohio and West Virginia.

“Since both firms have significant strengths in differing service areas, it just makes good business sense to combine the firms to meet new financial and business challenges facing their client bases,” Layne said. “Also, the owners of Smith Goolsby and Kelley Galloway have been longtime business acquaintances and share common commitments and beliefs on how to provide professional services and expand business.”

“This merger marks a significant milestone in realizing our vision of providing our clients with an ever-expanding range of financial and business consulting services,” Kanouse said. “Together we can offer our clients a greater selection and depth of services.  

“As a combined entity, we’ll be able to compete more effectively, expand more rapidly and offer our employees a wider range of career opportunities. That all translates into positive things for our clients.”

All owners of the two firms will continue as owners of Kelley Galloway Smith Goolsby and it is anticipated clients will experience no disruptions in their day-to-day business affairs.

Effective with the merger July 1, Kelley Galloway Smith Goolsby will have 52 total employees, including 11 shareholders/directors. In addition to offices in Ashland, the firm will continue to maintain branch offices in Pikeville, Cold Spring and Cincinnati.

TIM PRESTON can be reached at tpreston@dailyindependent.com or (606) 326-2651.