Why the SEFA Deserves a Seat at the Executive Table

For many nonprofit organizations, including their CFOs and fiscal departments, the Schedule of Expenditures of Federal Awards (SEFA) is viewed as an audit deliverable – something that is compiled by the auditors at the end of the fiscal year to satisfy a requirement under the Uniform Guidance in a Single Audit. This perception understates its importance. Nonprofit organizations that take full ownership of the SEFA tend to better understand how it materially affects audit results, staff workload, and overall organizational risk.

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Waste Not: Solutions for Food Supply Chain Losses

Food waste is a problem that one cannot afford to ignore. While not a new challenge, mitigating waste has steadily risen over time to become one of the more important issues faced by food businesses. This article will review key statistics that summarize the scope of the issue and explore several practical solutions that businesses are implementing to meaningfully reduce food waste.

Mergers and Acquisitions – What Are the Tax Considerations? Part 2

The M&A discussion back in January was focused on Asset Deals. As described in that article, buyers often want to buy assets, and sellers often want to sell stock. The reasons for this include income tax benefits and legal considerations. The deal structure is largely driven by other factors though. For example, there will always be industries where stock is the only viable option. Industries that are highly regulated at the state level, as well as those that are heavily reliant on ongoing contracts, will always see stock deals as the primary means of ownership transfer.

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WEBINAR: Are You Happy with Your SOC Provider? – Key Differentiators and Red Flags

The recent increase in demand for SOC 2 has caused changes within the industry. So, are you aware of what to look for when finding and/or retaining a vendor in this new market? Our SOC team will share key service differentiators, along with recent Journal of Accountancy insights, to help attendees navigate SOC 2.

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How can we help you thrive?

When was the last time anyone asked you this question? We ask it every day, understanding only one definition of thriving matters: yours.

Whether you’re an organizational leader seeking a deeper connection with your business and accounting advisor, a candidate searching for a vibrant and adaptable career path, or a community leader forging networks for positive transformation, change begins with connection.

At McKonly & Asbury, the heart of each of our relationships is collaboration, centered on Helping Others Thrive. We serve a wide range of industries—including Architecture, Engineering and Construction; Nonprofit; Manufacturing & Distribution; Healthcare; Affordable Housing; and Family-owned Businesses—delivering services that align with each client’s distinct goals and needs.

Our services include tax, audits, reviews and compilations, employee benefit plan audits, SOC audits, CMMC compliance, Sarbanes-Oxley assistance, business valuations, and state and local tax. Whether supporting organizations through compliance or helping drive strategic growth, we are committed to being a dependable and engaged advisor every step of the way.

Would you like to explore a relationship where the focus is on you? Let’s start a conversation today.

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Featured Articles

Crafting Your CMMC Level 2 System Security Plan: A Practical Guide

Key Takeaways Cover All 320 Objectives: Each of the 110 CMMC Level 2 controls contains multiple objectives – every one must be addressed in the SSP to achieve compliance. Align Supporting Documents: Ensure network diagrams, data-flow maps, and asset inventories are consistent with the SSP to avoid assessor red flags. Define Shared Responsibilities: Clearly document which security obje… Read more

Tax Considerations for the Construction Industry

Sales and Use Tax With the passing of economic nexus laws in almost every state, it can be complicated for any business to stay sales tax compliant. Contractors are no exception to this, and even have their own set of rules that vary by state. McKonly & Asbury’s State and Local Tax group is available to assist in making taxability determinations for contractors, and can assist with sales tax… Read more

Subservice Organizations in Your SOC Report

Subservice organizations are defined as an entity that is used by the service organization to perform s… Read more

Dale Carnegie Complimentary Virtual Preview: Leadership Training for Managers

Dale Carnegie’s Live Online programs show people how to communicate in a way that truly connects so they… Read more

Complementary User Entity Controls (CUECs) and SOC Reports

Complementary user entity controls (CUECs) are an important and essential part of any SOC report. If y… Read more

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McKonly & Asbury Culture

Core Values provide the foundation for our culture and uniquely represent who we are, define how we conduct ourselves and portray how we interact with our colleagues and clients. These Core Values personify the type of employees that we look for when we recruit, as well as what we should strive for as we advance in our careers.

Careers at McKonly & Asbury

Our uniquely collaborative and casual yet professional work environment empowers our team members to elevate their skills and advance in their careers. Our mission, Helping Others Thrive, is at the center of all we do, who we are, and who we serve.

McKonly & Asbury Culture

Core Values provide the foundation for our culture and uniquely represent who we are, define how we conduct ourselves and portray how we interact with our colleagues and clients. These Core Values personify the type of employees that we look for when we recruit, as well as what we should strive for as we advance in our careers.

Careers at McKonly & Asbury

Our uniquely collaborative and casual yet professional work environment empowers our team members to elevate their skills and advance in their careers. Our mission, Helping Others Thrive, is at the center of all we do, who we are, and who we serve.