Rick Covert, CPA, is a principal in the Audit Department at MBAF. Rick has been in practice since 1982 advising clients in the private and non-profit sectors. His wealth of experience affords his varied client base a well-rounded approach to their financial needs. Rick is also the principal-in-charge of the firm’s Non-Profit and Employee Benefit Plan Audit practices.
Rick served on the American Institute of Certified Public Accountants Employee Benefit Plans Committee where he co-authored the “Audit and Accounting Guide: Employee Benefit Plans” for accounting practitioners.
His areas of expertise include automotive dealerships, business valuation, construction, employee benefit plans, healthcare, higher education, financial institutions, insurance, manufacturing, non-profit organizations, real estate, retail and wholesale/distribution. Rick joined MBAF in 1981 as a staff accountant and was promoted to principal in 1988.
- American Institute of Certified Public Accountants – Employee Benefit Plans Committee
- Florida Institute of Certified Public Accountants – Accountants’ Committee on Practice Review, Committee on Accounting Principles and Auditing Standards
- University of Florida – Bachelor of Science in Accounting
Among the retirement plans that small businesses can offer to their workers are employee stock ownership plans (ESOPs). As the title indicates, an ESOP is a process for transferring ownership of the company to employees. How does that work as a retir ...Explore
Among employer-sponsored retirement plans, 401(k)s have become the standard. Some prospective employees assume that a job will come with a 401(k). Therefore, offering a 401(k) at your company may help you hire desired workers, and help you retain val ...Explore
According to Morningstar, target-date funds (TDFs) attracted nearly $70 billion in 2015. Another research firm, Cerulli Associates, has predicted that 88% of new 401(k) contributions will go into TDFs by the end of 2019. As this market expands, new v ...Explore