Armao of Armao, Costa designated as CGNA

Salvatore Armao, managing partner and co-founder of Armao, Costa & Ricciardi, CPAs, P.C., has been welcomed into the premier group of CPAs who have been recognized with the Chartered Global Management Accountant (CGMA) designation. To quality as a CGMA, stringent requirements that include exams, experience and education must be met, along with either AICPA or CIMA membership. ABOUT CGMA According to the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA), "The Chartered Global Management Accountant (CGMA) is a new designation for CPAs working in business and government. Management accountants are trusted to guide critical business decisions and drive strong business performance. They combine financial expertise and business acumen to achieve sustainable business success. They understand how the different parts of the business need to come together. CGMAs are committed to professional ethics and a code of conduct." ABOUT MR. ARMAO Armao, a resident of Howard Beach, NY, has been providing accounting, auditing and consulting services to labor unions and Taft-Hartley employee benefit plans for over 25 years. While growing up as the son of a union official, he learned the importance of fair labor standards and the benefits labor unions provide for their members, including job security, retirement income and medical benefits. That experience has provided him with a unique perspective which he draws upon as a professional providing service to the labor union industry. Armao is a frequent contributor to trade and business publications including Laborpress, Newsday and Long Island Business News, and has been featured in the latter's "Who's Who in Accounting." He is a member of numerous trade and professional associations, including the International Foundation of Employee Benefit Plans (IFEBP), the Business and Labor Coalition of New York (BALCONY), the National Institute of Pension Administrators (NIPA), the American Institute of Certified Public Accountants (AICPA), AICPA's Employee Benefit Plan Audit Quality Center (EBPAQC) and the New York State Society of Certified Public Accountants (NYSSCPA). Mr. Armao received his Bachelor of Science in Accounting degree from the City University of New York, Brooklyn College. He is a Certified Financial Planner (CFP) and a Personal Financial Specialist (PFS), and has earned designations as Certified in Financial Forensics (CFF), Forensic CPA (FCPA) and Certified Fraud Examiner (CFE). His numerous fraud investigations have resulted in detecting several defalcations at clients, most notably in a New York City municipal union that resulted in the detection of a $2.4 million fraud scheme.