RSM US

{{Short description|Tax, accounting and consulting firm based in Chicago}} {{Infobox company | name = RSM US LLP | type = Limited Liability Partnership | hq_location = 30 South Wacker, Chicago, Illinois, U.S. | founded = 1926; 99 years ago (as IB McGladrey Company) | founder = Ira B. McGladrey | key_people = {{Unbulleted list|Brian Becker ([[Chief executive officer|CEO]])|Sam Mascareno ([[Chief operating officer|COO]])|Andy Bosman ([[Chief marketing officer|CMO]])|Jiten Shah ([[Chief financial officer|CFO]])|Daniel O’Brien ([[Chief diversity officer|CDO]])|Tyrone Beasley ([[Chief talent officer|CTO]])}} | num_locations = 81 U.S. and Canadian offices (2024) | area_served = United States and Canada | num_employees = 16,800+ (2024) | parent = [[RSM International]] | industry = [[Professional services]] | services = [[Audit]] [[Tax]] [[Management consulting]] [[Enterprise risk management|Risk advisory]] [[Technology consulting]] [[Financial adviser|Financial advisory]] [[Legal]] | revenue = {{increase}} $3.7 billion [[U.S. dollar|USD]] (2024) | website = {{URL|https://rsmus.com/}} }}

'''RSM US''' LLP is an audit, tax, and consulting firm focused on the middle market in the [[United States]] and [[Canada]] and is a member of the global accounting network [[RSM International]]. It employs more than 16,000 professionals across 81 cities nationwide and in [[Canada]]. RSM US also maintains offices in [[India]] and [[El Salvador]].

RSM US is the US member firm of [[RSM International]], the 6th largest [[accounting network]] in the world with $8 billion in revenue, 51,000 professionals in 120+ countries.

==History==

The firm was founded in 1926 by Ira B. McGladrey (1883-1952) in [[Cedar Rapids, Iowa]]. McGladrey became a prominent figure in public accounting in Iowa, serving as President of the Iowa Society of Certified Public Accountants, chairman of the Iowa Board of Accountancy, as well as a member of the Rules Committee of the [[American Institute of Certified Public Accountants]], the premier governing body for the field of accounting in the United States.<ref>''Iowa City Press-Citizen'' https://www.newspapers.com/clip/31714394/obituary-ira-b-mcgladrey/</ref> The firm continued to operate under some variant of the McGladrey name for nearly nine decades, until 2015 when the firm was rebranded as RSM US LLP. [[File:Cme building aerial view.jpg|thumb|RSM US LLP's headquarters at [[30 South Wacker]] tower of the [[Chicago Mercantile Exchange|CME]] Center.]]

===Legal structure=== Beginning in 1999, through a partnership with [[H&R Block]], McGladrey operated under two separate legal entities: McGladrey & Pullen, LLP; and RSM McGladrey, Inc.

McGladrey & Pullen operated under the [[Limited Liability Partnership|traditional partnership structure]] and offered audit and attestation services. RSM McGladrey was established under the partnership agreement with H&R Block to provide tax and advisory services under an alternative practice structure.

In August 2011, H&R Block announced the conclusion of the partnership, [[divesting]] RSM McGladrey to McGladrey & Pullen and reuniting the firms in their traditional partnership structure. McGladrey & Pullen acquired all employees, assets, and infrastructure from RSM McGladrey. The deal closed on December 1, 2011.

On May 1, 2012, McGladrey & Pullen officially changed its name to McGladrey LLP. In July 2012, McGladrey shifted its headquarters from [[Bloomington, Minnesota]] to [[Chicago]].

On October 26, 2015, McGladrey LLP changed its name to RSM US LLP as part of a worldwide rebranding of RSM International members to bring them in line with the rest of the global network.

==Controversies==

In 2006, RSM settled a business fraud class action lawsuit against them for $41.5M.<ref>{{Cite web |title=RSM EquiCo Sued for Fraud and Breach of Contract {{!}} Case Results |url=https://www.murphyfalcon.com/results/rsm-equico-sued-for-fraud-and-breach-of-contract/ |access-date=2024-06-24 |website=Murphy, Falcon & Murphy |language=en-US}}</ref>

In 2019, RSM was charged with violating auditor independence rules by the SEC. The charges were in connection with more than 100 audit reports involving at least 15 audit clients. RSM agreed to be censured and was fined $950,000.<ref>{{Cite web |title=SEC.gov {{!}} RSM US LLP Charged With Violating Auditor Independence Rules |url=https://www.sec.gov/news/press-release/2019-161#:~:text=The%20SEC's%20order%20finds%20that,audited%20by%20independent%20public%20accountants. |access-date=2024-06-24 |website=www.sec.gov}}</ref>

In June 2020, RSM settled a professional negligence claim brought by Physicians United Plan for $17 million.<ref>{{Cite web |title=Miami Law Firm Clinches $17 Million Professional Negligence Settlement Against Major Accounting Firm |url=https://www.law.com/dailybusinessreview/2020/06/12/miami-law-firm-clinches-17-million-professional-negligence-settlement-against-major-accounting-firm/ |access-date=2025-09-16 |website=Law.com |language=en}}</ref>

In 2022, the SEC charged RSM, two partners and a senior manager with improper conduct charges. RSM agreed to pay $3.75M to resolve the charges. The senior manager was fired over this issue, however both partners remain with RSM.<ref>{{Cite web |title=SEC.gov {{!}} SEC Charges Audit Firm RSM and Three Senior-Level Employees with Failure to Properly Conduct Client Audits |url=https://www.sec.gov/news/press-release/2022-180#:~:text=The%20Securities%20and%20Exchange%20Commission,with%20bill%20and%20hold%20sales. |access-date=2024-06-24 |website=www.sec.gov}}</ref>

In the 2024 [[Public Company Accounting Oversight Board]] (PCAOB) Inspection Report, the PCAOB gave RSM an audit deficiency rate of 47%. This is an improvement from a low in 2018 when 73% of audits conducted by RSM were deemed to be deficient by the regulators.<ref>{{Cite web |title=Firm Inspection Reports |url=https://pcaobus.org/oversight/inspections/firm-inspection-reports?searchWithin=rsm |access-date=2025-05-22 |website=Default |language=en}}</ref>

In 2024, a former employee sued RSM for racial and gender discrimination, maintaining a culture of sexual harassment (specifically naming RSM partners Martin Glenn, Dave Noonan, and Sergio de la Fe), and violation of her human rights under New York law. This case was settled for an undisclosed amount. <ref>{{Cite web |date=2024-09-24 |title=SUMMONS + COMPLAINT September 24, 2024 |url=https://trellis.law/doc/218722634/summons-complaint |access-date=2025-05-22 |website=Trellis.Law |language=en}}</ref>

==Service lines==

=== Audit and financial reporting services === Source:<ref>{{Cite web|title=Audit - Financial reporting services for global middle market {{!}} RSM|url=https://rsmus.com/what-we-do/services/assurance.html|access-date=2021-07-15|website=rsmus.com|language=en}}</ref>

* Global [[audit]] * [[Public company]] Audit * [[Privately held company|Private company]] audit * [[Employee stock ownership|Employee plan benefit]] audit

=== Tax advisory services === Source:<ref>{{Cite web|title=Tax advisory and compliance services {{!}} RSM|url=https://rsmus.com/what-we-do/services/tax.html|access-date=2021-07-15|website=rsmus.com|language=en}}</ref>

* [[United states federal tax|Federal tax]] * [[Indirect tax]] * [[State and local tax deductions|State and local tax]] * [[International tax planning]] strategies * Credits and incentives * Tax function optimization

=== Consulting services === Source:<ref>{{Cite web|title=Consulting - Advisory services for middle market business {{!}} RSM|url=https://rsmus.com/what-we-do/services/consulting.html|access-date=2021-07-15|website=rsmus.com|language=en}}</ref>

* [[Management consulting|Strategy and management consulting]] * [[Information technology consulting]] * Financial advisory ** [[Valuation (finance)|Valuation]] services ** [[Litigation]] and dispute advisory ** Financial investigations ** [[Restructuring]] and [[Bankruptcy in the United States|bankruptcy]] * Risk advisory * [[Mergers and acquisitions|M&A]] transaction advisory services * Technical accounting

==Awards and recognition==

=== 2022 - 2023 === Source:<ref>{{Cite web|title=Awards and Recognitions|url=https://rsmus.com/newsroom/awards-and-recognitions.html|access-date=2021-07-15|website=rsmus.com|language=en}}</ref>

* [[Accounting Today]] ranked RSM the fifth largest accounting, tax and consulting services firm in the U.S. for the 16th consecutive year *Great Place to Work® named RSM one of the [https://rsmus.com/newsroom/2022/fortune-and-great-place-to-work-name-rsm-to-2022-best-workplaces-in-consulting-and-professional-services-list.html 2022 Best Workplaces in Consulting & Professional Services™] * Great Place to Work® and [[Fortune (magazine)|Fortune]] named RSM one of the 2023 100 Best Companies to Work For® * RSM received [https://joinhandshake.com/ Handshake]'s Early Talent Award for the third consecutive year * RSM recognized on the list of America's Best Large Employers, ranking no. 1 in Professional Services by [[Forbes]] * RSM recognized on [https://www.hrc.org/resources/corporate-equality-index Human Rights Campaign's 2021 Corporate Equality Index] * RSM was named as a [https://rsmus.com/newsroom/2023/age-friendly-institute-names-rsm-a-certified-age-friendly-employer.html Certified Age-Friendly Employer by Age-Friendly Institute] * Accounting Today recognized RSM as one of its [https://rsmus.com/newsroom/2023/accounting-today-names-rsm-one-of-its-best-firms-for-technology-for-2023.html Best Firms for Technology]

==Sponsorships== RSM US LLP is the title sponsor of the [[RSM Classic]], a [[PGA Tour]] event that takes place in [[Sea Island, Georgia]] in November of each year. The firm also sponsors [[professional golfer]]s, such as PGA Tour professionals [[Zach Johnson]] and [[Davis Love III]], as well as LPGA professional golfers [[María Fassi|Maria Fassi]] and [[Megan Khang]].<ref>{{cite web | url=https://rsmus.com/about/team-rsm.html#:~:text=RSM%20proudly%20sponsors%20PGA%20TOUR,European%20Tour%20player%20Alice%20Hewson | title=Team RSM }}</ref>

==References== {{Reflist}}

==External links== *{{Official website|http://www.rsmus.com}}

[[Category:Accounting firms of the United States]] [[Category:Companies based in Chicago]] [[Category:Consulting firms established in 1926]] [[Category:RSM International]]