Annual Report 2023 : simplebooklet.com

CORE VALUES INNOVATION We embrace novelty of thought and welcome new ideas seeing each situation through the eyes of a student As we take in new information we focus our objectives on the firm rather than the individual institutionalizing our client service and practice In doing so we enable continual innovation that benefits all clients supports ongoing growth and protects the long term security of the firm as well as the individuals who comprise it STEWARDSHIP Our people represent our firm therefore we will work to attract and retain the best and brightest people helping each one fulfill their professional potential We know that our choices govern our firm s growth and continued success we are accountable and responsible for our work quality and financial performance Through our work and our wise stewardship we will sustain the multi generational legacy of success I M PA C T We are committed to making an impact that extends well beyond the lives of clients we serve directly Our service and leadership take many forms but the objective remains constant We give our time and talent to support our associates communities profession academic institutions and focus industries always striving to help them grow and flourish for the common good TRUST We will consistently take actions that promote trust and integrity We are committed to fair treatment for partners associates and clients We exercise prudent risk tolerance through effective risk management to protect those who honor us with their trust EXCELLENCE We are committed to meeting high performance standards that exceed expectations In our daily work and our actions both large and small we respect our firm s history and culture by providing high quality professional service to our clients while always serving the public interest Our culture and core values are among the most meaningful differentiators for our Firm defining us and ensuring continuity through changes both internal and external We proudly highlight our strong culture as expressed through our core values and the accomplishments that each one reflects in this year s Annual Report Together we are going further Innovation 3 Tech Committee Report 3 NExT Committee Report 5 Stewardship 6 Strength Through Support 6 LCDC Report 6 Client Experience 8 Office Renovations Updates 9 DEI 10 Talent Recruiting 11 Impact 12 Corporate Responsibility 12 TABLE OF Community Service 13 Trust 14 Quality and Independence 14 Assurance Update 15 CONTENTS Tax Update 16 Advisory Update 17 Excellence 18 Letter from Hanson Borders 18 Firm Stats and Facts 19 2

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INNOVATION Enthusiastic and open minded embrace of innovation sparks the ideas that allow our Firm to thrive in a rapidly shifting business environment even as our rock solid core values ensure continuity of the guiding principles that sustain the reputation of trust we have earned over the years We optimize and enhance our expertise when we approach our profession with the eyes of a perpetual student keenly observant and always eager to learn M J is committed to consistently improving our skills and advancing our ability to perform in service of our clients This commitment is expressed in our individual daily work as well as our firm wide approach to strategic planning and investment in key technologies Andrew Glenn Technology Committee Chair TECH COMMITTEE REPORT We are certainly living in interesting times A person can t spend more than five minutes on their mobile device watching TV or even reading a newspaper without noticing the impact technology is making Technology has made it easier than ever to communicate with people from all over the world It has improved our ability to collaborate and complete tasks remotely enabled innovation and increased productivity Technology is fundamentally transforming the way we interact and socialize with each other enabling access to more services and information than ever before and making it easier to stay connected and informed about news and events And advancements in artificial and machine learning promise businesses the potential to reach new heights of success However along with the many benefits arising from technology come threats to the Firm our business and our clients This is particularly true when it comes to our absolute reliance on technology in every aspect of our work The gamut of threats includes viruses malware phishing scams ransomware spyware identity theft and data breaches to name only a few Each day brings a new challenge a new zero day exploit to contend with For these reasons the firm has a dedicated Core Operations IT team working to resolve technology issues and keep these threats at bay or at least mitigated as much as possible M J has a Technology Committee that works closely with the Core Operations IT team with the goal of enabling everyone to perform at the highest levels of efficiency and effectiveness while maintaining security of firm information The Committee members comprise a cross section of professionals throughout the Firm from audit tax advisory services admin and various industry groups striving to represent everyone s best interests from a technology perspective Our goal is to empower everyone to achieve optimal levels of efficiency and effectiveness while safeguarding the security of company and client information 3

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INNOVATION TECH COMMITTEE REPORT CONT The Firm is committed to investing in robust technology tools that make possible the best experiences for our people and our clients Our focus on innovation and investments in emerging technology solutions empower our people with the tools and techniques they need to be their most productive and creative and to best serve our clients This year we launched several new technology initiatives and continued our expansion of previous initiatives to support the evolving workplace and enable our people to connect and collaborate effectively including Enhanced our cybersecurity stance through expanded use of multifactor authentication security training and testing with Ninjio along with many other behind the scenes improvements Added resources to our Technology team to continue supporting our professionals as we grow and bring on new offices Over the past twelve months we have hired additional IT talent including William Pryor in Bradenton brought on Chris Duncan through a merger in Huntsville AL and initiated an IT internship program Our first two interns under this program began in June 2023 in the Atlanta office They are Jonathan Choe and Joseph Ko Greatly expanded the onboarding of the SurePrep tax software throughout the firm this past tax year s busy season Continued financially supporting and collaborating on development of the AICPA s next generation audit software tool Dynamic Audit Solution DAS At the same time we continue to evaluate other audit tools such as Caseware Orb and CCH s Axcess Audit Continued making significant technology upgrades in our newest offices from the mergers and tuck ins in North Alabama Savannah Georgia the 400 corridor in Atlanta and new office in Raleigh North Carolina Implemented Datasnipper in our audit practice to automate many tasks for optimal efficiency especially in the areas of test of controls walkthroughs test of details and financial statement procedures And last but certainly not least we took the first steps on our data transformation path through the adoption of Domo Domo is a mobile cloud based business intelligence platform with the power to transform the way we manage our business The Firm s partners have had their first glimpse of what Domo promises but there is much more to come We have also worked with the Marketing team to enhance our client portal This will provide our clients with a one stop shop for all necessary items when onboarding with M J And did I mention we will have an app for accessing the Firm s intranet and other important items The Technology Committee and Central Office IT team are here to help and we sincerely appreciate everyone s understanding around the various controls and requirements we have in place We understand that it s inconvenient and tiring having to deal with passwords multifactor authentication time outs and required watching of a riveting 4 minute video each month Our preaching about always shutting down your computer to enable encryption never leaving your computer in your car unattended not clicking on links etc gets old We know these things add time and can make jobs harder But they are for everyone s protection A breach would be much more than just inconvenient It could mean financial cost lost work embarrassment and harm to our clients So as Hanson often reminds us Stop clicking on links dummy PG Version of SCOLD The Technology Committee includes Andrew Glenn Chair Wade Sansbury Lisa Brady Debra Biedrzycki Brandon Smith Jameson Miller Kristen Lord Kathy Cochran Ricky Davis Information Security Officer James Bence Bob Heuel Jeremy Blackburn and Hanson Borders Ex Of 4

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INNOVATION NExT COMMITTEE REPORT Brandon Smith NExT Chair At M J we believe everyone plays a role in innovation to drive incremental and transformative change Through our NExT Navigate Explore Transform Committee we accelerate the speed and momentum of change by collaborating with our committee members colleagues and industry leaders to deliver real world practical approaches for our clients while equipping our professionals with the knowledge skills and tools necessary to thrive in an evolving digital world ChatGPT write us a summary about how the NExT Committee collaborated with people all around the firm to investigate new tools pushed forward Digital Analytics efforts like PowerBI University and the Domo Initiative and moved the needle on Audit Transformation with DataSnipper The NExT Committee led a collaborative effort throughout the firm to explore new tools drive Digital Analytics initiatives and revolutionize Audit Transformation By engaging individuals from various departments they successfully investigated innovative tools and harnessed the power of collaboration to push their efforts forward In the realm of Digital Analytics the committee actively collaborated with employees across the organization to advance initiatives such as PowerBI University and the Domo Initiative Through workshops training sessions and knowledge sharing they empowered employees to leverage these tools effectively enabling data driven decision making throughout the firm Simultaneously the NExT Committee recognized the importance of Audit Transformation and the potential of DataSnipper By collaborating with auditors they ensured a comprehensive approach to driving change Together they identified pain points developed solutions and implemented strategies to automate audit processes streamline workflows and enhance overall efficiency Throughout their endeavors the committee fostered a culture of collaboration and inclusivity They actively sought input from employees at all levels valuing diverse perspectives and ideas This collective intelligence and expertise proved vital in propelling the organization forward breaking new ground in the realms of digital analytics and audit transformation In summary the NExT Committee s collaborative approach enabled them to investigate new tools drive Digital Analytics efforts and bring about change in Audit Transformation with DataSnipper Their commitment to collaboration and innovation established a foundation for a data driven and agile organization positioning them for success in a rapidly evolving business landscape Perfect We couldn t have packed in buzzwords any better ourselves Thanks ChatGPT The NExT Committee includes Brandon Smith Chair Kelsie Deiter Lisa Brady Allison Hightower Ben Barendse Austin Turner Adrienne Berg Mallory McCracken James Langston and Hanson Borders Ex Of 5

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STEWARDSHIP Strength Through Support M J is a collective by pooling our skills and talents to serve a common goal we create success and opportunity for our clients our colleagues and ourselves The growth of our Firm reflects our commitment and effort individually and as a team We work hard to attract and retain professionals with the highest level of ability and dedication welcoming them to join us in our pursuit of excellence As our Firm expands we increase our strength through the support we provide to each other ensuring each team member has a richly rewarding environment that fosters personal and professional growth Bill Curtis LCDC Chair Our commitment to Stewardship is exemplified each year through the announcement of new Partners joining our Firm Congratulations to the exceptional individuals who have been admitted as Partners in 2023 Daniel Anderson CPA Bradenton William Birmingham CPA Atlanta Grant Davis CPA Columbia Kelsie Deiter PHR Atlanta Emily Dent CPA CRCM CAMS Albany Rob Douglas CPA Albany Justin Elliott CPA Macon Tiffany Galligan CPA Albany Christopher McKellar CPA Atlanta Ashton Pellicano CPA Atlanta LCDC Report In the ever evolving landscape of professional development the Leadership and Career Development Committee LCDC has continued to try and proactively address emerging challenges and capitalize on new opportunities to help advance our people during 2023 The committee has spearheaded initiatives to empower individuals within our Firm and align our objectives with the core values that define us Recognizing the value of our professionals our Firm prioritizes their growth and development as a testament to our commitment to both our strategic objectives and the core value of Stewardship The Firm continues to make investments in equipping our people with the necessary tools and resources to thrive LCDC works to foster a culture of innovation and embrace transformative approaches to learning and development Through these endeavors our professionals are empowered to continuously enhance their skills and leadership abilities ultimately enabling us all to provide exceptional service to our clients 6

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STEWARDSHIP LCDC REPORT CONT Some the highlights of LCDC s past year include An extensive overhaul of the Leadership and Career Development Policies and Procedures to ensure our objectives aligned with the current and future vision of the Firm Continuing to promote our Associate 360 Program Creation of an Orientation Committee to focus on enhancing the onboarding and orientation process to support a seamless integration of new talent into our ranks The appointed Orientation Committee has provided valuable efforts to develop top notch training content for all new hires irrespective of their level or location Incorporated an ongoing evaluation or check in process 30 days 60 days 90 days etc after Orientation and Onboarding to see what holes we can address moving forward Created an orientation page on the Firm s intranet In line with the Firm s updated core values LCDC updated the review forms to incorporate these values ensuring alignment throughout the organization Began the formalization of a Learning Development L D Program To bolster our professionals learning curriculums we welcomed Abbie Chesser as an Instructional Designer to our L D Team Her prior professional accounting experience will aid our L D Team in its continuous efforts to transcend our training resources and library We are committed to enhancing our Diversity Inclusion initiatives and are proud to support our three Employee Network Groups Diversity Initiative Women s Alliance and Interfaith and Cultural Diversity Group These groups are led by Doug Moses Aleisa Howell and Meredith Lipson with support from their internal committees Had continuous discussions regarding the Advisory practice and how to continue to integrate the proper training into the various industry conferences to help promote and support the Advisory practice Also the Advisory Committee held its inaugural In House Advisory Conference In recognition of the importance of professional certifications we have revised the Firm s CPA Exam Policy to include financial support for all certifications required by our professionals To improve the experience and usability of internal conferences we have developed an internal training App called M J Events using Cvent This enhancement has greatly enhanced the overall conference experience In our commitment to providing comprehensive learning opportunities we have expanded the content available through Prolaera We also introduced our professionals to LumiQ which provides CPE in a podcast form while also providing traditional self study videos with questions further enriching our educational resources For the upcoming year the Committee plans to focus on growing our L D platform further the training and development opportunities for the Advisory service line and look for opportunities to develop and promote leadership for professionals intent on moving up in the Firm These are just a few of the goals for the Committee this year We look forward to serving the Firm with a growth mindset towards our people The LCDC Committee includes Bill Curtis Chair Adam Fraley Alison Wester Jeff Fucito Tim Lyons Brandon Smith Doug Moses Chris Anderson Jon Schultz Matt Hisey Trey Scott Kelsie Deiter Lauren Wood Paige Vercoe and Hanson Borders Ex Of A crucial aspect of being a successful steward of the Firm lies in creating opportunities and making strategic investments in our employees One of the primary investments we make is through our LCDC which is dedicated to providing the necessary training and career development opportunities for all professionals to flourish in their respective roles By focusing on these aspects we aim to foster an environment where employees can thrive and continually enhance their skills and capabilities 7

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STEWARDSHIP Updated Client Portal To enhance the client experience M J has implemented a client portal that provides resources and pertinent information to meet the needs of every client It offers features such as links to upload documents and online payments a welcome video a client information update form and self service resources By utilizing the client portal we can streamline client interactions improve transparency and strengthen relationships with our clients ultimately leading to a more satisfying and efficient client experience Moving forward we will continue to focus on the client experience and look to improve the portal for more of a tailored experience specific to each individual client Aiwyn With AIWYN clients are now able to make payments online pay using ACH Bank Transfer with no processing fees save payment methods to their account add multiple accounts to your payment portal and much more Chatbot M J s chatbot housed on our website serves as a valuable tool to assist our clients with their inquiries providing quick and efficient responses to common questions and concerns While the chatbot can be automated to handle routine inquiries it is important to note that our team s expertise and human touch remain essential Complex or unique client requests are routed to the appropriate staff member for personalized attention We continually value the importance of our client relationships which is exemplified through our Chatbot feature 8

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STEWARDSHIP DIVERSITY INCLUSION REPORT M J prioritizes a workplace environment where differences are valued and celebrated We believe inclusive is a way of approaching everything we do a lifestyle rather than a buzzword Sustainability in the business environment requires a richness of perspective that can only be achieved by attracting retaining and promoting individuals with a multitude of different backgrounds views and life experiences as well as a common vision of success We bring an intentional focus on inclusion building access and opportunity for all so that we can fully serve our communities and clients while enhancing the strength and resilience of both our Firm and our profession As part of our commitment to diversity and inclusion we established a committee tasked with ensuring a firm wide safe professional and inclusive atmosphere Chief among the committee s goals is constantly refining and improving our ability to provide equal opportunities and experiences to everyone inside and outside of our firm In addition the committee focuses on mentoring Firm employees and youth within our communities to support their professional and personal growth Participants attend local D I events as well as gaining opportunities to engage with inclusion initiatives on a national level The Committee hosts several events each year in addition to its quarterly meetings Highlights of this year s events include Semi annual Partnerships with Junior Achievement A Tale of Two Sisters webinar celebrating Black History Month Women Who Make History Do You Have What It Takes Promoting Positive Mental Health and Wellness through Culturally Competent Practices AAPI Heritage Month Celebration Fireside Chat with Judy Oh M J also provides annual scholarships to eligible accounting students to enhance opportunity for the next generation of accounting professionals This year we have increased the impact of our efforts by doubling our contributions and providing additional scholarships specifically targeted to first generation and minority student populations In total we will provide 23 500 in scholarships this year 10

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STEWARDSHIP Recruiting Report The unique blend of our fundamental principles and dedication to our employees culminates in an extraordinary culture and professional journey that is unparalleled Our exceptional standing as an outstanding workplace has been acknowledged by prominent publications like Accounting Today A JC and Edge further highlighting our commitment to excellence TALENT ENGAGEMENT Our valued culture is appreciated for its focus on adaptability and employee benefits By placing a strong emphasis on flexibility both during challenging times and beyond we enable our staff to attain personal and professional triumphs while alleviating undue stress for themselves and their loved ones Our dedication to well being extends beyond our core values as we have made substantial investments in comprehensive wellness resources This includes providing access to a range of support pillars and styles through SentryHealth previously Wellview resources such as Mental Health Therapists Personal Trainers Health Advisors and more These resources are available to all employees and their family members who participate in our Health Insurance ensuring their holistic well being is taken care of RECRUITING NEW TALENT M J aspires to be the preferred employer attracting top talent in the industry and serving as a coveted destination for skilled job candidates To support our recruitment endeavors we have devised two unique programs that complement our internship program and expedite the hiring process Envision is designed to offer college students a firsthand experience of our Firm and the accounting profession It provides valuable insights into potential internship openings facilitates the establishment of connections with prospective colleagues and aids in fostering relationships with potential future teammates Envision Video Jumpstart is designed for college students who have already accepted an offer but are still pursuing their studies on a full time basis This program aims to enhance the students connections with their future colleagues and deepen their understanding of our Firm It aligns with the LEAP Conference a comprehensive event that we organize for all Associates Together these initiatives provide valuable opportunities for personal and professional growth within our organization Internships hold immense significance for accounting students as they navigate their career paths and contemplate the ideal starting point as young professionals M J is dedicated to delivering an outstanding internship experience that ignites ambition fosters enthusiasm among prospective new hires and contributes to the long term career growth of participants regardless of their future destinations We are committed to providing interns with extensive exposure to the accounting profession encompassing a wide range of learning opportunities Moreover we prioritize offering meaningful personal mentorship and facilitating connections with colleagues at all levels By doing so we ensure that interns receive comprehensive support guidance and networking opportunities enabling them to thrive both professionally and personally during their time with us 11

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IMPACT M J remains steadfast in its commitment to creating a lasting impact that reaches far beyond the direct scope of our clients Our dedication to service and leadership encompasses a wide range of initiatives all with the unwavering goal of utilizing our time and talent to uplift our associates communities profession academic institutions and focus industries We persistently strive to foster their growth and prosperity with a shared vision of advancing the common good CORPORATE RESPONSIBILITY The Firm s commitment to corporate responsibility creates a positive impact beyond its direct client interactions We feel ethically obligated to consider the interest of our stakeholders which includes our employees communities environment and society as a whole With our Core Value of Impact in mind we recognize the importance of not only delivering value to clients but also actively contributing to the betterment of its associates communities profession academic institutions and focus industries This broader approach to corporate responsibility goes beyond the traditional focus on profitability and includes a commitment to social environmental and economic sustainability which is key in creating the strongest Impact We demonstrate our overall impact through the following Continuing to live our core values of Innovation Stewardship Impact Trust and Excellence Dedicate time and talent to support our employees clients and communities Create initiatives such as employee volunteerism for community events or philanthropic programs provide floating holidays that allow our employees to celebrate days of religious or cultural importance and civic or community services activities We partner with academic institutions to further student education which helps in strengthening the accounting industry as a whole We support Business Environmental Sustainability Practices We recognize the importance of integrating sustainability best practices into our decision making and business activities to promote a healthier environment We are committed to serving clients ethically responsibly and with their best interests in mind Our high quality service not only includes technical work but ensures we maintain confidentiality transparency and professional standards Overall the Firm s commitment to Corporate responsibility reinforces our dedication to the common good and the long term flourishment of our stakeholders extending beyond our direct clients By actively engaging in responsible business practices and contributing to the betterment of society the firm exemplifies the core value of impact and upholds its commitment to corporate responsibility By upholding our core values in our daily operations and continuously investing in the development of our people we lay a robust groundwork to facilitate positive change for all stakeholders both within and outside our organization This commitment to nurturing a strong foundation enables us to drive meaningful impact and create a mutually beneficial environment for everyone involved 12

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IMPACT COMMUNITY SERVICE M J continues to prioritize supporting local communities and clients through our community service efforts With our commitment to making a positive impact we are proud to announce that our annual contribution is 50 000 This support demonstrates our dedication to making a difference this year and beyond Environmental Sustainability M J has reduced its environmental impact by nurturing a flexible remote work environment resulting in decreased commuting emissions and improved worklife balance Additionally the firm has implemented various software solutions and process redesigns to transition to a more paperless environment including the adoption of electronic signature solutions and document organization software leading to a reduction in paper usage and improved efficiency in communication and record keeping A more detailed description of our efforts can be found in the Firm s Manual CLIENT SERVICE For over 100 years our clients have had unwavering confidence in our Audit Tax and Consulting practices They rely on us for up todate information invaluable guidance and innovative solutions to navigate any potential challenges they may face We embrace this responsibility wholeheartedly and proactively strive to surpass client expectations by consistently delivering the expertise and support they require in these critical areas SUSTAINABILITY IN ACTION We are resolute in our commitment to incorporate sustainability best practices into our decision making processes and day to day business activities Our commitment to sustainability extends to the gifts and promotional items we procure for various purposes such as marketing and recruiting events client appreciation and business development initiatives In the past year we have aligned our gift choices with our values by selecting eco friendly options a small but meaningful step that tangibly contributes to a more sustainable future By aligning actions with values we not only demonstrate our dedication to reducing our environmental footprint but also emphasize our ongoing efforts to create a positive impact on the communities in which we operate 13

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TRUST As a Firm and as individuals we will act consistently to promote trust and integrity We express that commitment in our daily work and our interactions with our colleagues at every level We extend the same commitment to each of our clients and we exercise prudent risk tolerance through effective risk management to protect those who honor us with their trust Throughout the Firm s history and myriad changes in the world it is part of our Vision has remained consistent We aspire to serve with excellence leadership and integrity earning trust and respect that allows us to fulfill the role of a trusted advisor Our clients depend on us to support and advance their business objectives and a rapidly evolving business landscape makes our skills and service offerings critically important to help them minimize risk while achieving their goals We value the opportunity to provide situation specific timely and comprehensive solutions that offer optimal benefit to each client QUALITY INDEPENDENCE The respect and trust M J has earned over the years is our most valuable asset built through countless actions and interactions that reflect our values With our colleagues our clients and our community members we safeguard our Firm s hard won reputation understanding that each of us plays an important part in supporting our position as a trusted advisor We adhere to the highest standards in all our actions when questions arise we follow the guidance offered in our Firm Manual We consistently strive to exceed professional and regulatory standards and regularly monitor the frameworks and best practices applicable to individual service areas of the Firm This allows us to quickly identify potential areas for improvement and ensure ongoing excellence in each practice area In addition we participate in peer review through the AICPA every three years gathering valuable feedback that helps us continually improve and feel confident that we are meeting the high standards we set for ourselves M J also participates in review and inspection through the Public Company Accounting Oversight Board PCAOB on the same three year cycle bringing welcome scrutiny to our audit process that helps us provide maximum value to our clients Our clients depend on us to support and advance their business objectives and a rapidly evolving business landscape makes our skills and service offerings critically important to help them minimize risk while achieving their goals 14

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TRUST ASSURANCE COMMITTEE UPDATE Andrew Glenn Recognizing the value of change is an important key to success in business Each year the pace of change for the Firm and our clients continues to increase and this change can be a daunting and overwhelming experience In response M J continues to transform its assurance Assurance Committee Chair capabilities to help our clients meet those changes We provide extensive value to our clients through high quality audits customized approaches and value added industry insights The Firm continues working to enhance its capacity and capabilities by increasing hiring at all levels including interns campus hires and experienced hires and pursuing other nontraditional resources such as remote hires to add depth and breadth to our capabilities This even includes looking outside the borders of the United States for talent and resources During the fiscal year ending on May 31 2023 the Firm reached an all time high in revenues for the Assurance practice increasing net service line fees from 41 4 million in fiscal year 2022 to 50 9 million for fiscal year 2023 an increase of 9 5 million or 23 What a fantastic fiscal 2023 for the firm Fiscal 2023 also continued to see expansion of our services particularly in Alabama and Georgia and a physical presence in North Carolina a new state for the Firm The Firm s work performed during fiscal 2023 will receive particular scrutiny as this work is subject to the triennial Peer Review process We anticipate Peer Review to begin in August 2023 and wrap up in November While we consistently emphasize the importance of quality work this process affirms the quality of our assurance practice and provides us with process improvements Our goal is always to receive a clean pass opinion as we have in past Peer Reviews M J s Assurance Committee oversees the Firm s Assurance practice The focus of the Assurance Committee has been and will remain improving and ensuring quality in all assurance engagements keeping up with changes in standards and preparing for the future of the assurance profession As part of this process the Committee maintains the assurance policies and procedures which can be found on the firm s intranet M J s Assurance Committee works closely with other committees of the firm including LCDC the Technology Committee and the NExT Committee to implement level appropriate training and adoption of technology to increase the efficiency of our work and enhance our ability to deliver quality and value to our clients Completing multiple technology pilots allows us to quickly explore test and deploy new technologies and tools as part of our focus on audit innovation and continuous improvement During fiscal 2023 the Firm implemented Datasnipper as a tool to improve engagement efficiency effectiveness and overall documentation This tool has proven itself as a valuable asset to our audit staff Further in response to the advent of technologies such as blockchain and AI the AICPA and Caseware embarked with approximately 40 of the top 100 U S firms to build next generation audit software Nearly five years ago M J was one of the firms that saw the need for this technology and partnered with the AICPA to help make it a reality with a product called Dynamic Audit Solutions DAS DAS is intended to be a fully integrated audit solution that uses data analytics and AI to analyze entire populations of data to identify relationships and patterns and aid in risk assessment The Firm has been active in testing this new product which is nearing market readiness Our current roadmap has us completing our evaluation and implementing next generation software over the next 18 months In June of 2022 the AICPA Auditing Standards Board and Accounting and Review Services Committee collectively released four new Quality Management standards designed to improve a CPA firm s risk assessment and audit quality These new standards which will replace the existing Quality Control standards are intended to modernize quality control and reflect new realities in practice such as an increased emphasis on risk assessment changes in technology and the growing use of external service providers The new standards take effect December 15 2025 and will require a complete revamping of the Firm s policies and procedures along with our QC document The Assurance Committee will be responsible for this transition Please know that the Assurance Committee is here to help both internally with our staff and externally with our clients The Committee members are Andrew Glenn Chair Ryan Inlow Eric Vreeland David Splittgerber Adam Fraley Dianne Kopczynski Christian Bennett Tim Lyons Jeremy Blackburn Nicole Cunningham Hope Pendergrass Ross Cannon and Hanson Borders Ex Of 15

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TRUST TAX COMMITTEE UPDATE The Tax Committee at M J plays a crucial role in overseeing the Firm s Tax practice With a strong emphasis on establishing trust and understanding clients challenges the committee continuously strives to enhance and maintain the quality of all the Firm s tax services By combining our extensive industry and technical knowledge our team of tax professionals has advanced our ongoing effort to be a leading provider in the market To ensure that we not only meet but exceed client expectations we have continued to implement a strategic approach that involves accelerating growth consistently fulfilling our commitments to clients and infusing our services with innovation M J s Tax practice prioritizes offering clients proactive and practical tax guidance and easily accessible services This includes an intentional approach to keeping clients informed about the latest tax policies as well as an internal focus on developing advanced tax software solutions and investing in the professional development of our tax team As an integral part of this process the Committee establishes and upholds tax policies and procedures These resources are readily available to our staff through the Firm s intranet Accomplishments The Tax Committee is dedicated to enhancing client value and service quality by improving the efficiency of our tax services and supporting our dedicated professionals Through collaborative efforts with other committees we have focused on embracing technology advancements and continue implementing training initiatives at optimal levels In the past year the Committee has achieved significant success including The practice achieved a 37 growth in net fees for FY 23 compared to FY 22 reflecting strong financial performance and client trust Successfully introduced the Tax Controversy Service with the assistance of Charlotte Way enabling clients to navigate tax audits penalties and compliance issues from the start to resolution Strengthened our internal tax capabilities by hiring William Roberts an International Tax Expert who will play a key role in the firm s international tax operations Experienced significant growth and profitability by strategically targeting the Employee Retention Tax Credit within the credit and incentives market Leveraged Sureprep and TaxCaddy to streamline tax preparation processes boosting efficiency and client satisfaction We have plans to further enhance these services for the upcoming tax seasons Proactively managed the pending retirements of key tax partners focusing on developing key personnel to ensure a smooth and seamless transition Continued our commitment to resource sharing across the firm enabling cross utilization during peak periods and optimizing efficiency Maintained strong client communications delivering timely and essential information directly to clients further enhancing their overall experience and satisfaction The Committee members are Ron Marshall Chair Kyle Butler Joanna Hancock John McDuffie Ken Thomas Todd Dailey Ryan Inlow Jeff Dorris Bob Heuel Chris Anderson Charlotte Way Sean Pennix Frank Slotin and Hanson Borders Ex Of We also provided a list of all approved Tax Technical Reviewers Requirements on the intranet in the Firm Committee section We encourage you to reach out anytime with questions comments or suggestions related to M J s tax practice Ron Marshall Tax Committee Chair Future Goals The Tax Committee is committed to driving continued growth by supporting the expansion of our new tax focused offices and extending their growth trajectory into the 2024 fiscal year and beyond We will also prioritize the growth of specialty tax areas such as Mergers Acquisitions while continuing to emphasize our Tax Controversy and International Tax service offerings To empower our staff and enhance their skills we will provide ample training opportunities through our Learning Development team while reassessing our traditional training methods to ensure effective learning curriculums Furthermore we have made a significant investment in hiring a tax scheduling expert to optimize cross utilization and efficiently manage client workloads across all office locations These strategic initiatives will position the Firm for continued success and client satisfaction in the coming year 16

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TRUST ADVISORY COMMITTEE UPDATE Jeff Fucito Advisory Committee Chair M J s advisory line of business expanded significantly in fiscal year 2023 reaching a new high in net fees of 17 763 967 This total represents a 34 increase over 2022 advisory practice fees The practice also experienced a significant increase in profitability compared to 2022 ERC work served as a driver of growth in 2023 net fees and profitability ERC work accounted for approximately 2 4 million in net fees 18 of growth in net fees came from ERC fees While extremely significant the growth related to ERC work is by no means the only area of focus for this line of service Our advisory practice has adopted a holistic approach to growth and is currently enjoying multiple growth fronts Current areas of emphasis in our advisory practice include general business consulting nonprofit education and governmental consulting client accounting services information technology services including cybersecurity specialty tax services healthcare billing and reimbursement consulting EOS Entrepreneurial Operating System and bank loan and compliance services We are expanding advisory services by creating leadership for new segments In addition we are adding leverage with increased staffing in each specialized advisory area to accommodate growth and improve profitability Specific areas of growth within the Advisory Practice include these accomplishments and initiatives We added an experienced governmental advisory practice professional so we can focus on Florida governmental advisory Florida s state budget is three times Georgia s We are expanding our SOC System Organization Controls examination services by hiring new resources to perform this work We are HITRUST certified providers and are becoming CMMC Assessors Department of Defense cybersecurity standard One key to effectively developing our advisory practice has been our ability to sell services to existing clients Regular Advancing Advisory Lunch and Learns have been successful in helping the Firm develop more of an advisory mindset which has supported efforts to identify and deliver new services to clients based on the work we already perform for them One of the ways we created a cohesive effort to develop this practice was by bringing the group together for the first annual Advisory Conference held in the Fall of 2022 We are looking at ways to further expose the firm s staff to advisory services including a presentation at the 2023 LEAP Conference The Committee members are Jeff Fucito Chair Linda Corty Ryan Inlow Alison Wester Jameson Miller David Roberts Adam Fraley Scott Smith Jim Vaughn Jeff Dorris Jon Schultz Brandon Smith Danny Mahfet and Hanson Borders Ex Of 17

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EXCELLENCE Exceeding expectations is part of our Firm s DNA we are committed to meeting the highest standards of performance each day As today s representatives of M J delivering top shelf professional services to clients while consistently serving the public interest is one of the ways we respect our Firm s history and culture Maintaining our tradition of excellence in a world characterized by Hanson Borders rapid change and novel challenges requires dedication from each team member and a resourceful approach by leaders To help our Managing Partner Firm thrive in a dynamic office environment and adapt to economic instability and a shifting service delivery model along with other external forces M J s leadership focuses intently on effective communication insightful expertise and responsive guidance Hanson Borders our Managing Partner shares key data points and reflections in the following message LETTER FROM HANSON BORDERS DEAR COLLEAGUES AND FRIENDS As Managing Partner I am very grateful for the M J community that is the foundation of our continued success We are in a very strong position because of our clients our people and all that support them Our future is very bright because of this community s commitment to our firm and its success Our strategic goals continue to emphasize growth in new services and markets broader scale and supporting the people that will provide it Over the past year our investments in these initiatives and expanding the expertise of our resources through mergers strategic hires and a commitment to organic growth has allowed us to reach our goal of 100 million in annual revenue well ahead of schedule This has only been possible by the dedicated efforts of our people Excellence has always been a hallmark of M J and we continue to build upon that legacy in an ever changing environment The rapid changes we encounter everyday in the conduct of our business will require us to be nimble and flexible but never yielding on upholding our core values of Innovation Stewardship Impact Trust and Excellence Those values have stood the test of time and will continue to do so As I look ahead opportunities abound for M J our clients and our people The investments in people resources and attention to client service has laid the foundation for continued growth and success There will be challenges for sure but together we can create opportunities from those challenges Our vision is to be a trusted advisor earning trust and building respect through our consistent commitment to excellence leadership and integrity Together we will live this vision and I am excited to be part of it I am very thankful for the opportunity to work with our great partners employees clients and communities as Managing Partner I am certain of M J s continued success because of each of you Thank you Sincerely Hanson Borders Managing Partner GOING FURTHER 18

Annual Report 2023

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