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New MAAP Standards for Not-For-Profits

MAAP IV is here! Representing some of the most substantive changes to Maine Uniform Accounting and Auditing Practices for Community Agencies (MAAP) in the regulation's 25-year history, the Maine Department of Health and Human Services released the new MAAP rules this spring, for agreements beginning July 1, 2012.

Our not-for-profit experts have summarized the important aspects of the new regulations on our website, so you can:

• Understand how the standards more closely follow Federal requirements, including a new requirement for agency annual reporting on an expenditure basis.

• Learn how the new rules establish criteria for assessing agencies as "low risk" auditees.

• Understand how independent auditors can utilize a risk-based approach to selecting Department agreements that would need to be tested as major programs.

Gain a more complete understanding of how these new rules will affect your audit in a new article about MAAP standards on the BerryDunn website.

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