New Risk Assessment Standards in Governmental Audits—Part I

Governmental Update (PPC) / By

Auditors will begin applying the new risk assessment standards in audits of 2023 calendar year-end governmental clients, periods ending on or after December 15, 2023. SAS No. 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement, provides the new guidance. So, how does SAS No. 145 change your audit processes? We …

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Maryland Comptroller Provides Guidance on Private Letter Rulings Procedures and Administration

State Tax Updates / By

By Saleem A. Shareef, Esq. The Maryland Comptroller’s Office has adopted new regulations (Md. Regs. Code §§ 03.01.05.01 through -.07, effective 01/08/2024) and provided additional guidance on the procedures and administration of private letter rulings on state and local taxes and fees administered by the comptroller. Private letter rulings are administered by the Legal Division …

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IRS Issues 2024 Version of Household Employer’s Tax Guide

Payroll Updates / By

By Payroll Update Staff The IRS issued the 2024 version of Publication 926, Household Employer’s Tax Guide. Publication 926. Publication 926 helps taxpayers determine whether they have household employees and are liable for federal employment taxes (i.e., Social Security, Medicare, FUTA, and federal income tax withholding). Specifically, the publication contains sections on determining if a taxpayer has a …

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Audit

New and Updated Technical Q&As

Nonprofit Update (PPC) / By

The AICPA periodically issues (or updates previously issued) Technical Questions and Answers. Recent Q&As address reporting issues and noncompliance with laws and regulations. FASB ASC 105-05-05-3 includes Technical Q&As as nonauthoritative guidance. Reporting Q&A 9165.01. This Q&A, Auditor Reporting When the Entity Issues Its Annual Report Subsequent to Its Financial Statements, addresses a question related to AU-C 720, The …

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University of Connecticut

Connecticut Governor Announces 2024 Income Tax Changes

State Tax Updates / By

by Patricia M. McDermott, Esq. Connecticut Governor Ned Lamont has announced that three income tax measures will take effect at the start of 2024, including reduced income tax rates, increased Earned Income Tax Credits (EITC), and expanded senior pension exemptions. (Press Release, Office of Governor Ned Lamont, 12/20/2023.) Income tax cuts. Beginning on January 1, 2024, …

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SDA helped us put together a successful bid for creating our massive entertainment village in downtown Ft. Lauderdale. They're amazing to work with! Very professional and supportive. We look forward to continuing to work with SDA as we grow.
Jeff John, Damn Good Hospitality Group
JEFF JOHNCEO, Damn Good Hospitality Group
SDA served as a consultant for us while we were doing project management for a construction job. They have excellent business acumen, are highly professional and truly value being a partner with us. We enjoy our relationship with SDA and look forward to continued future success.
MARK BLANCHARD
MARK BLANCHARDVP Strategic Development, AECOM
We’ve worked with SDA for several years on various projects within our legal and finance departments. They also helped us secure a grant for our new practice facility in downtown Fort Lauderdale. SDA really is the smarter way to do business!
Matthew Caldwell
Matthew CaldwellPresident & CEO, Florida Panthers Hockey Club
Tanya and the SDA team have done a great job for us - especially in helping us navigate and resolve some complex issues surrounding our audit work. They've been a consultant for us for a number of years and have also been consistently supportive of our community efforts. We truly value our relationship with SDA.
W. Ajibola Balogun - City Manager, City of West Park
W. Ajibola BalogunCity Manager, City of West Park
SDA has always done excellent work. Our financial auditing and bond control reviews are completed thoroughly and timely, and their team has been very accessible to help us address and analyze key issues whenever they may arise. In short, they’re a solid business partner we’re grateful to have.
Jennifer Andreu
Jennifer AndreuFormer Assist. Super., Miami-Dade County Public Schools
We are so pleased with the experience that we’ve enjoyed over the past 20 years with SDA. All of you were so timely and resourceful, serving as a trusted business partner, assisting with our fiscal controls, handling our financial auditing, smart bonds work and more. We couldn’t be happier with your services.
Torey Alston
Torey AlstonBoard Member, Broward County School Board
As the mayor of one of South Florida’s leading cities, I know it takes an incredible team around you in order to achieve a citywide vision for your constituents. SDA is one of those highly reliable teams I’m proud to say supports us well in our efforts of continuous improvement, accountability and transparency for the people of the city of Miramar.
Mayor Wayne Messam
Mayor Wayne MessamCity of Miramar, Florida
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