Harold Monk still lending his auditing expertise
Published: Sunday, July 28, 2013 at 6:01 a.m.
Last Modified: Friday, July 26, 2013 at 7:02 p.m.
In 2010, Harold Monk Jr. received the American Institute of Certified Public Accountants' Gold Medal for Distinguished Service, the highest honor awarded by the institute in recognition of his expertise and work in influencing accounting and auditing standards.
Harold L. Monk Jr.
Occupation: Partner-in-charge, Carr, Riggs & Ingram, LLC CPAs
Personal: Married to Marlene; two sons, Harold and Christopher; four granddaughters
Pet: Cairn terrier named Izzie
Dream partners for lunch: Wife and sons
Last book read: "The Advantage" by Patrick Lencioni
Favorite TV show: PBS NewsHour
Favorite listening: Sirius' '50s on 5, Fox News, oldies
Education: Bachelor of science in business administration, University of Florida
That same year, Davis, Monk & Company, the accounting firm he founded with Jody Davis in 1977, merged with Carr, Riggs & Ingram, the largest accounting firm in the Gulf Coast region and the 28th largest in the U.S. with about 40 offices and 1,000 professionals.
In addition to continuing to manage the offices he opened in Gainesville, Palatka and St. Augustine, Monk's duties since the merger have included providing his expertise in auditing, government and not-for-profit accounting to CRI's other Florida offices.
The relationship works both ways. Those same local offices can draw on CRI's expertise to offer its services to financial institutions and the health-care industry, in mergers and acquisitions, publicly traded companies, and accounting systems installations and security.
As such, the local operation recently added an insurance company as a client and handled a Securities and Exchange Commission filing for a Jacksonville company preparing to go public.
"It is allowing us to offer a lot more to our professional staff, and they see more opportunities as a result of the merger," Monk said.
As the partner-in-charge of the three offices, Monk, 66, oversees about 50 professionals who provide auditing, tax services or consulting to 1,500 clients, from companies to individuals, not-for-profit organizations and government entities.
Davis retired from the firm with the merger but continues to operate Davis-Monk Financial Group with Greg Grooms. The name is a vestige of the former accounting firm as Monk is not affiliated, although they share the same office building behind the Thornebrook Village shopping center.
Monk sees CRI's role as helping clients understand where they are in the economy, how they can expand or — if necessary — contract.
Demand for their services often increases during tough times as businesses need to make sure they are efficient and not paying more taxes than needed, he said.
"Having solid financial advice is critical to properly running a business and that's where we can provide great value to organizations, assisting them in properly running their businesses to ensure that their accounting is appropriate so they will have good information," Monk said. "Their business only runs as good as the information they get back."
Monk grew up in Gainesville and said building a successful business here has been a source of pleasure. He plans to keep working "as long as my wife will let me."
He also emphasized that he is proud of his family. His youngest son, Christopher, has been with the Alachua County Sheriff's Office for about 20 years. His oldest son, Harold III, was a former University of Florida football player and business owner before he died unexpectedly at age 42 in 2011.
"We're very proud of what we've accomplished," Monk said of his business. "We've built a very quality firm, one that has an outstanding reputation in the community. We've been able to be very active in the community, to support numerous organizations."