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

Does your organization have to comply with a Single Audit? Single Audits are required when a governmental or nonprofit entity expends more than $750,000 of federally allocated funds in their fiscal year. With the influx of both new and expanded federally funded programs over the past few years, the number of single audits has increased significantly. The best tool to ensure you comply with the complex single audit rules is documentation. As federal guidance on the use of federal awards seems to change quickly and constantly, there are now more “gray” areas than ever before. Be sure to documen ..read more

On January 10, 2024, the U.S. Department of Labor published a final rule revising guidance to distinguish the status of employees versus independent contractors. The rule will be effective March 11, 2024 and rescinds the Independent Contractor Status Under the Fair Labor Standards Act rule published in 2021. The intent of this final rule is to help reduce the risk that employees are misclassified as independent contractors. The rule also provides guidance for organizations utilizing independent contractors to supplement their staffing needs and assist with special projects. The risk of miscla ..read more

Maher Duessel is pleased to announce that Dustin D. Starr, CPA has been named Principal at the firm. Mr. Starr began his public accounting career in 2009 and joined Maher Duessel in 2010. Mr. Starr directs a wide range of audit, tax, and consulting engagements for governmental and non-profit entities including municipalities, municipal authorities, school districts, human service agencies, and economic development agencies. Mr. Starr is a graduate of Clarion University of Pennsylvania, a graduate of Leadership Butler County, and he is a member of the firm’s Education Committee ..read more

Maher Duessel is pleased to announce that Natalie J. Caponi, CPA has been named Principal at the firm. Ms. Caponi began her public accounting career in 2011 with Maher Duessel. She directs several non-profit and governmental audit and tax engagements including human service agencies, faith based organizations, county entities, and municipalities. An alumna of Mercyhurst University, Ms. Caponi is a graduate of Leadership Pittsburgh’s Leadership Development Initiative, and she is Chair of the firm’s Accounting and Auditing Committee ..read more

The Governmental Accounting Standards Board (GASB) has issued Statement No. 102, Certain Risk Disclosures. GASB 102 will be effective for fiscal years beginning after June 15, 2024, and all reporting periods thereafter. What is the objective of GASB 102? The objective of GASB 102 is to provide users of government financial statements with essential information about risks related to a state or local government’s vulnerabilities due to the variety of risks they face. These are risks that could negatively affect the level of service they are able to offer or their ability to meet obligations as ..read more

The Governmental Accounting Standards Board (GASB) reached triple digits with the issuance of GASB #100, Accounting Changes and Error Corrections (An Amendment of GASB Statement No. 62). We have a summary of this statement, how it will affect your organization’s financial reporting, and how you can prepare for implementation. What is the objective of GASB 100? The objective of GASB 100 is to improve the reporting requirements for accounting changes and error corrections with the goal of providing clearer and more reliable information to better inform an organization’s decision making while pr ..read more

Every five years, the Office of Management and Budget (OMB) completes a review and proposes changes to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, commonly known as the “Uniform Guidance” or “2 C.F.R. Part 200.” In December of 2023, OMB issued an extensive list of proposed changes that you should be aware of. The most significant proposed revision would be the increase of the Single Audit threshold from $750,000 to $1,000,000. If this change is enacted, you may find that your organization gets a welcome break from Single Audit complianc ..read more

The Chairman and CEO of our firm, Elizabeth (‘Betsy’) Krisher, CPA, CGFM, has been named President of the PICPA (Pennsylvania Institute of Certified Public Accountants). Betsy was formally appointed on May 17th at the PICPA Annual Meeting in Pittsburgh. Betsy looks forward to continuing in a leadership role to help the PICPA to support its members in navigating the current challenges the profession is facing. She is also a former member of the PICPA’s Diversity and Inclusion Advisory Board, the Pennsylvania CPA Foundation Board, and previously served as President of PICPA’s Pittsburgh Chapter ..read more