- Uniform Guidance/Single Audit Compliance |The 2025 Compliance Supplement: Delays, Draft Release, and What Auditees Need to Know
For organizations subject to Single Audit requirements, staying on top of the annual Compliance Supplement issued by the Office of Management and Budget (OMB) is essential. The 2025 Compliance Supplement, however, has hit unexpected delays, creating uncertainty and operational impacts for nonprofits, governmental entities, and higher education institutions.
- Other News |New Changes to CPA Licensure Requirements in PA
On June 30, 2025, Governor Josh Shapiro signed Senate Bill 719 (SB 719), now Act 27 of 2025, into law. The Act marks a significant update to Pennsylvania’s CPA Law. This legislation modernizes licensing standards and aligns Pennsylvania more closely with national mobility and practice standards to address the nationwide CPA shortage.
- Uniform Guidance/Single Audit Compliance |Single Audit Compliance: The Nuts and Bolts of Sub-Recipient Monitoring
Does your organization operate as a Pass Through Entity (PTE) in the disbursement of federal funds? If your organization is operating as a PTE, you need to be mindful of your responsibilities in ensuring that federal funds are properly expended and accounted for.
- Information Technology |Update Your Business Associate Agreement for AI
The current business climate introduces new risks and responsibilities due to Artificial Intelligence (AI) becoming widely available particularly with respect to Protected Health Information (PHI). We have important recommendations regarding updating your Business Associate Agreement (BAA) for AI.
- Non-Profit Management |Financial Reporting In Shifting Economic Landscapes
Federal funding disruptions and economic volatility are creating significant challenges for nonprofit and governmental organizations. Our blog has important considerations regarding the impacts of these changes to your financial reporting along with recommendations to help strengthen your financial operations.
- Non-Profit Tax |2025 Non-Profit Tax Update
We have important updates regarding the impacts of the One Big Beautiful Bill on Non-Profits along with recent accomplishments of the Tax Exempt and Government Entities Division.
- IRS Regulations |ERC Credits and the "One Big Beautiful Bill"
The recently passed One Big Beautiful Bill Act (OBBB) introduces a significant change: Section 70605 Enforcement Provisions With Respect To Covid-Related Employee Retention Credits (ERC) that could impact nonprofits and small businesses still waiting for their ERC refunds.
- COVID-19 |Treasury Notice for Coronavirus State and Local Fiscal Recovery Funds
The U.S. Department of Treasury (Treasury) has announced that they will be monitoring recipients of Coronavirus State and Local Fiscal Recovery Funds. Recipients were required to obligate their funds by December 31, 2024. With Treasury committed to recouping the funds, your organization may receive Information Document Requests and will be expected to promptly comply.
- Government Regulatory Update |Beneficial Ownership Information Update
As of March 21, 2025, the Beneficial Ownership Information (BOI) reporting requirement for domestic U.S. organizations is no longer in effect. Non-profit organizations will no longer have to report BOI to the Financial Crimes Enforcement Network (FinCEN) under the Corporate Transparency Act (CTA). However, non-profits with international operations will still be required to file BOI.
- Information Technology |Understanding and Managing the Risks of Generative Artificial Intelligence
With the increased usage of Generative Artificial Intelligence (GAI) in organizations looking for added efficiencies in content creation and streamlining of their operations, there are important risks you should be aware of. We have some key recommendations for you to consider based on guidance from the National Institute of Standards and Technology (NIST).
- Non-Profit Regulatory Update |New Annual Report Filing Requirement for Pennsylvania Organizations
Pennsylvania non-profit and for-profit organizations must comply with a new annual report filing requirement. Previously, this report was only required to be filed every ten years. Now the report must be filed every year by June 30th (limited liability companies must file by September 30th).
- Government Regulatory Update |GASB 104 Update
The Governmental Accounting Standards Board (GASB) has issued Statement #104, Disclosure of Certain Capital Assets, which will become effective for governments with fiscal years beginning after June 15, 2025. The intent of this standard is to enhance the transparency and usefulness of financial statements for state and local governments by requiring separate disclosure of specific types of capital assets.
- COVID-19 |American Rescue Plan Act Reimbursement Update
The Pennsylvania Department of Human Services (PA DHS) Office of Developmental Programs (ODP) has announced an extension to the deadline for spending approved American Rescue Plan Act (ARPA) grant funding. The new deadline is March 31, 2025 (extended from October 31, 2024). All expenses must be incurred by this deadline, and the final deadline for reimbursement requests to be initiated is May 31, 2025.
- Information Technology |New Password and Cyber Security Measures
The National Institute of Standards and Technology (NIST) recently released updates in Special Publication 800-63-4, which addresses digital identity guidelines critical for both governments and non-profits. NIST is no longer recommending using a mixture of character types in passwords or regularly changing passwords as these efforts have resulted in the creation of weaker passwords.
- Uniform Guidance/Single Audit Compliance |2024 Single Audit Update
- Government Regulatory Update |GASB 103: Financial Reporting Model Improvements
- Non-Profit Tax |2024 Non-Profit Tax Update
- Higher Education |New Reporting Requirements For Higher Education Institutions
- Higher Education |Institutional Eligibility and Other Auditing Changes for Student Financial Assistance in 2024
- Non-Profit Regulatory Update |CECL: An Important Reminder Regarding FASB ASU 2016-13 and Non-Profits
- Uniform Guidance/Single Audit Compliance |Best Practices in Single Audit Testing
- Department of Labor Regulations |Department of Labor Regulatory Update: Determination of Employees Versus Independent Contractors
- Government Regulatory Update |GASB 100: Accounting Changes and Error Corrections - An Overview
- Government Regulatory Update |GASB 101: Compensated Absences - An Overview
- Government Regulatory Update |GASB 102: Certain Risk Disclosures - What You Need To Know
- Uniform Guidance/Single Audit Compliance |Uniform Guidance Update: A Plethora of Proposed Changes
- Uniform Guidance/Single Audit Compliance |Best Practices for the SEFA: The Driver of the Single Audit!
- Other News |Only Many, Active Hands Can Repair and Build Out the CPA Pipeline
- Information Technology |Gramm Leach Bliley Act Update Impacts on Higher Education
Connect With Us
Stay Connected!
Sign up to receive information on the latest government and non-profit industry insights, firm news, and upcoming events & seminars.