Maher Duessel is pleased to announce that Samantha Strejcek, CPA, has been named a Principal at the firm. Ms. Strejcek began her public accounting career in 2008 and joined Maher Duessel in 2011. She directs a wide range of governmental and non-profit audit/tax engagements including counties, municipalities, state agencies, local authorities, human service agencies, member ..read more

Maher Duessel is pleased to announce that Cara L. Nicoletti, CPA, has been named a Principal at the firm. Ms. Nicoletti began her public accounting career in 2011 with Maher Duessel. Ms. Nicoletti has managed a wide range of governmental and non-profit audit/tax engagements including counties, municipalities, local authorities, state entities, community colleges, human service ..read more

There are two major updates regarding Single Audit compliance you should be aware of with respect to revisions to the Uniform Guidance and the issuance of the 2024 Compliance Supplement. Uniform Guidance Revisions Approximately every five years, the Office of Management and Budget (OMB) completes a review and proposes changes to the Uniform Administrative Requirements ..read more

The following are matters of interest to June 30, 2024 fiscal year exempt organizations: Updated Inflation Reduction Act Guidance The U.S. Treasury issued final regulations on March 5, 2024, addressing IRA provisions for direct (elective) pay under Section 6417. The pre-filing registration portal for elective pay has opened. Refer to IRS Publication 5884 for additional ..read more

Congratulations to Partner, Jennifer L. CruverKibi, CPA, CGFM, who has obtained the CGFM (Certified Government Financial Manager) certification from The Association of Governmental Accounts (AGA). The CGFM professional certification demonstrates competency in governmental accounting, auditing, financial reporting, internal controls and budgeting at the federal, state and local levels ..read more

Congratulations to Principal, Jonathan C. Mentzer, CPA, who has been appointed to the Pennsylvania Institute of Certified Public Accountants (PICPA) CPA-PAC Board. The CPA-PAC Board is responsible for raising and distributing funds to Pennsylvania candidates who support CPA-friendly positions ..read more

New regulations have been issued under Title IV of the Higher Education Act of 1965 for 34 CFR 600.7 – Conditions of Institutional Ineligibility. The new regulations are effective for fiscal year ending June 30, 2024, and include new compliance regulations for determining institutional eligibility for Federal Student Assistance. These new compliance requirements are based on the institution’s latest completed award year. The compliance requirements state that an educational institution does not quality as an eligible institution if: More than 50% of the institution’s courses were corresponde ..read more

The U.S. Department of Education (the Department) has released Financial Responsibility, Administrative Capability, Certification Procedures, and Ability to Benefit Regulations that become effective on July 1, 2024. The goal of the revised financial responsibility portion of the regulations is to assist the Department in ensuring institutions of higher education (institutions) receiving federal student aid remain financially viable. The Department has observed abrupt closures that harm students and taxpayers. Students are less likely to obtain a degree after a school closes, and taxpayers may ..read more

Maher Duessel is thrilled to announce that Chairman, Elizabeth (‘Betsy’) E. Krisher, CPA, CGFM, has been named to the Forbes America’s Top 200 CPAs list for 2024! This is an inaugural publication compiled by Forbes, and Betsy is one of five Pennsylvania CPAs making the list. Betsy’s involvement in various accounting board and committee posts including her current roles as President of the PICPA and Member of the National Pipeline Advisory Group have contributed to this prestigious recognition. Congratulations Betsy ..read more

On June 16, 2016, the Financial Accounting Standards (Board) FASB issued ASU 2016-13, Financial Instruments-Credit Losses which is effective for fiscal years beginning after December 15, 2022. This standard introduces the current expected credit loss methodology (CECL) for estimating credit losses and impacts accounting for trade receivables, loan receivables, and debt securities. This blog addresses the changes you should be aware of for trade accounts receivable due within one year, which impacts most organizations. Before implementation of CECL, organizations could calculate the allowance ..read more