Having pursued the New Jersey accounting firm over the past few years, New York accounting firm KPMG announced on May 30, 2014 that it has “entered an agreement by which most of the principals and employees of Rothstein Kass will join KPMG.”  While smaller than KPMG by headcount and revenue, Rothstein Kass has a larger hedge fund auditing practice and the acquisition will make KPMG the largest auditor of hedge funds based on number of clients, the Wall Street Journal reported.  For insight from KPMG, see “KPMG/AIMA/MFA Survey Quantifies the Impact of the AIFMD, FATCA, Form PF and Adviser/CPO Registration on Hedge Fund Manager Compliance Budgets,” Hedge Fund Law Report, Vol. 6, No. 43 (Nov. 8, 2013); and “Survey by AIMA and KPMG Identifies the Key Drivers of the Bifurcation of the Hedge Fund Industry Between Larger and Smaller Managers,” Hedge Fund Law Report, Vol. 5, No. 21 (May 24, 2012).  For insight from Rothstein Kass, see “Key Accounting and Legal Hurdles in Starting a Hedge Fund Management Business, and How to Surmount Them,” Hedge Fund Law Report, Vol. 7, No. 18 (May 8, 2014); and “Rothstein Kass Provides Roadmap for FATCA Compliance by Hedge Fund Managers,” Hedge Fund Law Report, Vol. 6, No. 24 (Jun. 13, 2013).