In March 1933, President Roosevelt ordered the closure of the banks, and several young accountants at a large Cleveland accounting firm were furloughed, left only with instructions to return in the fall. One of them, Richard Rea, seized the opportunity.
Upon returning to his hometown of New Philadelphia, Ohio, Mr. Rea (or “The Old Man,” as he’s known around here) met a local banker who was upset that he did not have adequate financial information to support his bank’s business loans. Richard identified a much-needed solution.
Soon thereafter, Richard began installing business accounting systems in the businesses of bank customers. From the ashes of America’s Great Depression, one of America’s top certified public accounting firms was born.
Rea & Associates – An Ohio Accounting Firm
By 1938, Richard had established a partnership under the name Rea & Associates. Today, Rea & Associates is a highly respected, full-service regional accounting and business advisory firm that offers accounting, tax and audit services to clients primarily throughout the state of Ohio. The Ohio CPA firm is also regarded as one of the Top 100 public accounting firms in the country.