Walsh Reveals Prestigious DeRoy Scholars-Students Receive Full Tuition Scholarships

TROY, Mich., Aug. 1, 2019 – Walsh has announced the recipients of its full academic DeRoy Testamentary Foundation Scholarships, named for the foundation started by philanthropist, automotive businesswoman and community leader, Helen L. DeRoy. This year’s DeRoy Scholars are Aysha Abdul Shahid of Warren and Anna Duffer of St. Clair Shores. Both students earned associate degrees in accounting at Macomb Community College and will pursue bachelor of accountancy degrees at Walsh this fall.

Abdul Shahid came to Michigan at age 17 from her home city of Dubai, United Arab Emirates. She plans to become a Certified Public Accountant (CPA) and also mentor other international students through academic and other challenges they may be facing.

“This scholarship is everything to me” she said. “I don’t have to worry about the financial burden that comes with being an international student taking out a loan and I will have the freedom to pursue my goals without the stress of wondering how to pay for it. I’m very happy I moved here, because this is the land of opportunity where I can pursue my dream.”

Duffer works full-time for Macomb County as the administrative coordinator for community development and has also been involved with the county’s weatherization initiatives. A bachelor’s degree in accountancy will align with her work in government funding and support her career goals of helping low income families find the resources they need to live better lives.

“Being awarded this scholarship is surreal. It shows me that hard work does not go unnoticed and I am so very appreciative that I received the DeRoy Testamentary Foundation Scholarship,” she said.

The first DeRoy Testamentary Foundation Scholarship was awarded in 2011. The DeRoy Testamentary Foundation provides funding support for programs and projects that improve the quality of life and well-being of individuals in metro Detroit. It received the President’s Award for Outstanding Partner in Education from Walsh in 2018.

To learn more about the DeRoy Testamentary Foundation Scholarship, visit walshcollege.academicworks.com. For more information about Walsh and its academic programs, visit www.walshcollege.edu.

ABOUT WALSH:
Walsh is an all-business, private, independent, not-for-profit, fully accredited college offering undergraduate and graduate business and technology degrees, as well as certificate programs. Founded in 1922, Walsh is one of the region’s largest business schools and Michigan’s third largest graduate business school, offering classes in several locations as well as online. Our nationally ranked programs integrate theory and application to prepare graduates for successful careers. Walsh degree programs include accounting, finance, information technology, management, marketing, taxation and other fields. For more information, please visit www.walshcollege.edu.

Walsh is accredited by the Higher Learning Commission (www.hlcommission.org) and the Accreditation Council for Business Schools & Programs (www.acbsp.org).

Clayton & McKervey shareholder offers 6 targeted questions for businesses considering overseas expansion

Southfield, Mich.—July 29, 2019—Susan Tuson, CPA, a shareholder with Clayton & McKervey, a certified public accounting and business advisory firm helping growth-driven companies compete in the global marketplace, encourages U.S. manufacturers and entrepreneurs to know their options when it comes to overseas business expansion.

“When the idea of expanding a business overseas is considered, the first questions are typically, ‘What’s the best way to start?’ ‘Should I set up an office immediately or use an independent contractor familiar with the country?’ As with all business decisions, the answer depends on the nature of the business goals,” Tuson said.
Tuson addresses the following questions when determining how to best approach an overseas business expansion analysis:
• Is the expansion to service an existing customer?
• Is the expansion to reach a new population of customers?
• Does the expansion serve a marketing purpose, such as the ability to say, “We have manufacturing in country X a low-cost jurisdiction?”
“The business goals will drive the process,” Tuson said. “Sometimes a company is looking for a way to test market conditions prior to making a substantial investment. They may do this by considering the use of an independent contractor in the target country. The advantage is there are very little, if any, capital investment or administrative compliance costs to hiring an independent contractor. However, many of the independent contractor issues that exist in the U.S. are similar overseas.”
Tuson outlines three key considerations when using independent contractors to test the waters overseas.
• What are the duties of the independent representative/distributor?
“Many countries have rules similar to the U.S. that would examine whether the ‘independent’ contractor is truly independent. If not, the independent contractor could be considered an employee, thereby making the U.S. company subject to all the employment laws, taxes, and payments of an employer in the jurisdiction,” Tuson said.
• What type of authority does the independent contractor have? Can they execute contracts on behalf of the U.S. Company?
“If an agent regularly exercises the authority to enter into contracts, they are likely to be creating a taxable presence in countries where the U.S. has an income tax treaty. The threshold may be lower for non-treaty countries,” Tuson said.
• Will you have enough control over an independent contractor to protect your brand and customer list? “It is important to understand the local laws related to the status and rights of an independent contractor/distributor. An iron clad contract should be in place that protects the company and supports its subcontractor versus employee status, as well as the rights and obligations of each party,” Tuson said.

If, after the exploration process has been completed and it is determined to move forward with overseas expansion, Tuson urges business owners to use international tax and accounting specialists and legal counsel well-versed in global business operations.

About Clayton & McKervey
Clayton & McKervey is a full-service CPA firm helping middle-market entrepreneurial companies compete in the global marketplace. The firm is headquartered in metro Detroit and services clients throughout the world. To learn more, visit claytonmckervey.com.

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Clayton & McKervey shareholder to present an alternate solution to revenue and lease accounting standards at 2019 AICPA Engage

Southfield, Mich.—May 21, 2019—Clayton & McKervey, a certified public accounting and business advisory firm helping growth-driven companies compete in the global marketplace, announced that shareholder Julie Killian, CPA, is part of a panel that will present on the advantages of implementing a financial reporting option for smaller businesses at the 2019 American Institute of Certified Public Accountants (AICPA) Engage conference. The professional development event for accounting and finance professionals takes place June 9–13 in Las Vegas.

Along with Killian, session speakers Mike Brand Johnson, a partner at Feigley, Newton & Brand, LLP, and Robert Durak, Director of Audit & Accounting Technical Services for the Association of International Certified Professional Accountants, will discuss how accountants can help many private, small- and medium-sized businesses to avoid the difficulties that stem from the new revenue and lease accounting standards. Their presentation, “Does Your Client Have to Adopt the Revenue and Lease Standards? An Alternative Solution,” will take place on June 10 at 3:45 p.m.–4:35 p.m. and cover key topics including:

1) The fundamental principles of the Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs)
2) How the FRF for SMEs differs from other accounting frameworks
3) How to transition financial statements to the FRF for SMEs

In October 2018, Killian was appointed to the Technical Issues Committee (TIC) of AICPA’s Private Companies Practice Section (PCPS). This national committee is made up of CPA practitioner volunteers who work to represent the views of local firms and their clients in the standards-setting process. TIC monitors the activities of the various standard setting boards including the FASB, GASB and ASB, as well as other AICPA senior committees, and submits comments and recommendations to the standard setters as the collective voice of small and medium-sized firms, as needed. Earlier this month, TIC sent a letter to FASB to request a one-year delay on implementation of a new lease standard, citing an overload of new accounting standards for private companies that are all effective within a similar time frame. The letter was picked up by numerous accounting and business publications including the Wall Street Journal and is currently under consideration by FASB.

Killian was named a shareholder at Clayton & McKervey in July 2018, and leads the firm’s Assurance practice. She works with owners, CFOs and controllers of closely-held companies with operations in the United States, Europe, Asia and Mexico and is focused on the technical and compliance aspects of reporting, including audits and reviews of corporate financial statements, audits of employee benefit plans, and reviews of internal controls and performance reporting. Additional areas of expertise include U.S. Generally Accepted Accounting Principles (GAAP), International Financial Reporting Standards (IFRS), AICPA Financial Reporting Framework for Small and Mid-sized Entities (FRF-SME) and the updated revenue recognition standard released by the Financial Accounting Standards Board (FASB) in 2015. Killian holds a Bachelor of Arts in Accounting from Michigan State University and IFRS certification from the American Institute of Public Accountants.

About AICPA
The American Institute of CPAs (AICPA) is the world’s largest member association representing the accounting profession, with more than 431,000 members, and has a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. Its mission is to drive a dynamic accounting profession ready to meet the demands of a constantly changing, disruptive world—providing the tools, resources and intelligence needed to clarify complexity, anticipate risk and create opportunity.

About Clayton & McKervey
Clayton & McKervey is a full-service CPA firm helping middle-market entrepreneurial companies compete in the global marketplace. The firm is headquartered in metro Detroit and services clients throughout the world. To learn more, visit claytonmckervey.com.

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Clayton & McKervey shareholders to participate on ACG Detroit panel about Navigating Cross-Border Transactions on June 7

Southfield, Mich.—May 15, 2019—Clayton & McKervey, a certified public accounting and business advisory firm helping growth-driven companies compete in the global marketplace, announced that two of its CPA shareholders, Tim Hilligoss and Margaret Amsden, will be participating in an upcoming panel hosted by ACG Detroit about “Navigating Cross-Border Transactions.” The program will take place on Friday, June 7, from 7:30 a.m. to 9:30 a.m., at The Townsend Hotel in Birmingham, Mich.

The event is designed to help business owners understand the legal, business, banking and accounting issues that surface in a cross-border transaction. The panel will present a description of steps that business owners can take to prepare their companies for successful cross-border transactions, in addition to discussing practical concerns, common issues and best practices.

Hilligoss, who will be a speaker on the panel, provides leadership to Clayton & McKervey’s growing Transaction Service practice. He was recently named Advisor of the Year by the ACG Detroit and was honored at the organization’s fourth annual ACG M&A All Star awards.

Amsden, who will serve as a moderator on the panel, specializes in partnership and Limited Liability Corporation structuring; transaction consulting, structuring and compliance; and mergers, acquisitions and reorganizations. She is a board member for ACG.

For more information about the event as well as a complete list of panelists, please visit https://www.acg.org/detroit/events/navigating-cross-border-transactions.

About ACG
Founded in 1954, the Association for Corporate Growth (ACG) is a global organization with 59 chapters. Its membership is comprised of 14,500 professionals from private equity firms, corporations and lenders that invest in middle-market companies, as well as from law, accounting, investment banking and other firms that provide advisory services. For more information, visit https://www.acg.org/.

About Clayton & McKervey
Clayton & McKervey is a full-service CPA firm helping middle-market entrepreneurial companies compete in the global marketplace. The firm is headquartered in metro Detroit and services clients throughout the world. To learn more, visit claytonmckervey.com.

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Walsh Alumnus Wins Elijah Watt Sells Award

Award Recognizes Outstanding CPA Exam Performance

TROY, Mich., April 30, 2019 — Walsh alumnus Christopher D’Agostino has been awarded the Elijah Watt Sells Award by the American Institute of CPAs. The award recognizes 2018’s top 110 CPA exam performers out of approximately 86,000 test-takers. D’Agostino is one of only three CPA candidates in Michigan to earn the distinction.

The Elijah Watt Sells Award annually recognizes individuals who score a cumulative average score above 95.50 across all four sections of the CPA exam and pass all four sections on the first attempt. It was founded in 1923 and is named for one of the first CPAs is the United States.

”To simply pass the CPA exam is a career milestone, but winning the Elijah Watt Sells Award is truly a remarkable accomplishment,” said John Black, CPA, CMA, CIA, Chair and Associate Professor of Accounting at Walsh. “We are proud to have had this bright young professional as a student at Walsh. We wish him the very best in his career and look forward to many successes in the future.”

D’Agostino earned his Bachelor of Accountancy from Walsh in 2017 and is currently employed at Rehmann. “I would not have been able to accomplish this feat without the education and tools I received at Walsh,” he said.

For information about Walsh programs, visit www.walshcollege.edu/future-students

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ABOUT WALSH
Walsh is an all-business, private, independent, not-for-profit, fully accredited college offering undergraduate and graduate business and technology degrees, as well as certificate programs. Founded in 1922, Walsh is one of the region’s largest business schools and Michigan’s third largest graduate business school, offering classes in several locations as well as online. Our nationally ranked programs integrate theory and application to prepare graduates for successful careers. Walsh degree programs include accounting, finance, information technology, management, marketing, taxation and other fields. For more information, please visit www.walshcollege.edu.

Walsh is accredited by the Higher Learning Commission (www.hlcommission.org) and the Accreditation Council for Business Schools & Programs (www.acbsp.org).

Clayton & McKervey named a Top Workplace by the Detroit Free Press for 8th consecutive year

Southfield, Mich.—Nov. 19, 2018—Clayton & McKervey, an international certified public accounting and business advisory firm located in metro Detroit, is pleased to announce it has been awarded a 2018 Top Workplaces honor by the Detroit Free Press. It is the eighth ear Clayton & McKervey has been included on the Detroit Free Press list, which ranks the best places to work in Michigan.

“The Detroit Free Press Top Workplaces award is very important recognition for our firm and we are thrilled with our longevity on the list,” Clayton & McKervey President Robert Dutkiewicz said. “Attracting and retaining high achieving, happy staff is critical to our success. Public accounting is a competitive field for talent, and our client service efforts depend on staff that view Clayton & McKervey as a positive place to work and build a long-term career.”

The Top Workplaces list is based solely on employee feedback gathered through a third-party survey administered by research partner Energage, LLC. The survey gathers employee responses and measures organizational health in four categories:
1. Alignment – where the company is headed; its values; cooperation
2. Effectiveness – doing things well; sharing different viewpoints; encouraging new ideas
3. Connection – employees feel appreciated; their work is meaningful
4. My Manager – cares about concerns; helps employees learn and grow.

The survey also asks about employee engagement, where Clayton & McKervey scored above the CPA profession average, confidence in company leadership and general questions about pay, benefits, flexibility and training.

Clayton & McKervey promotes a collegial and responsive work environment. The firm, an industry leader in promoting women to partnership and other roles of high-level responsibility, uses its Women’s Network program to engage female leadership talent with a four-tier approach that increases access to role models; improves marketing opportunities; provides education and support for career advancement; and enhances the culture of the firm to ensure the successful retention and recruitment of women.

In addition, Clayton & McKervey’s young leadership training program taps employees before they are managers and turns them into the firm’s leaders of tomorrow through technical training and leadership conferences, off-site learning, daily mentoring and in-house coaching, and community involvement. The firm also emphasizes the importance of making time to have fun and connect outside of working hours to foster visible, deeper levels of engagement with each other and the community.

To see all Top Workplace rankings, click here.

About Clayton & McKervey
Clayton & McKervey is a full-service certified public accounting and business advisory firm helping closely held businesses compete in the global marketplace. The firm is headquartered in metro Detroit and services clients throughout the world. To learn more, visit claytonmckervey.com.

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Clayton & McKervey shareholder appointed to Judson Center Board

Southfield, Mich.—Oct. 16, 2018—Clayton & McKervey, an international certified public accounting and business advisory firm located in metro Detroit, is pleased to announce that shareholder Kevin Johns has been appointed to the Board of Trustees of Judson Center, a community based human services center with locations in Genesee, Macomb, Oakland, Wayne and Washtenaw counties.

Judson Center’s mission is to provide expert, comprehensive services in Southeast Michigan that strengthen children, adults and families impacted by abuse and neglect, autism, developmental disabilities, and mental health challenges so they are successful in their communities. For more information about the Judson Center, visit the website.

“I am very excited to have Kevin Johns join Judson Center’s Board of Trustees,” Lenora Hardy-Foster, Judson Center President & CEO, said. “As a Trustee, Kevin will be working with the board members to oversee the governance of our organization as we continue to move our mission forward. With his experience and talents, he is a great addition to Judson Center and I, along with our entire Judson Center Board, look forward to working with him.”

At Clayton & McKervey, Johns specializes in maximizing U.S. and foreign tax credits and incentives, corporate federal and state tax planning, IRS and State of Michigan audit representation, individual tax planning, IC-DISC analysis, closely held corporate tax strategies and organizational structure for foreign entities

In addition to Judson Center, Johns is active in several other professional and civic groups. He is the Treasurer of the Canadian United States Business Association, a member of the Consulate General of Canada, a member of the MICPA Accounting for Tax Practitioners committee, a member of the American Institute of Certified Public Accountants, Chairman of the Board of Faith Baptist Church and President of the Board of Faith Christian School.

About Clayton & McKervey
Clayton & McKervey is a full-service certified public accounting and business advisory firm helping closely held businesses compete in the global marketplace. The firm is headquartered in metro Detroit and services clients throughout the world. To learn more, visit claytonmckervey.com.

Clayton & McKervey shareholder appointed to national AICPA committee

Southfield, Mich.—Oct. 12, 2018—Clayton & McKervey, an international certified public accounting and business advisory firm located in metro Detroit, is pleased to announce that shareholder Julie Killian has been appointed to the Technical Issues Committee (TIC) of AICPA’s Private Companies Practice Section (PCPS). This national committee is made up of CPA practitioner volunteers who work to represent the views of local firms and their clients in the standards-setting process. TIC monitors the activities of the various standard setting boards including the FASB, GASB and ASB, as well as other AICPA senior committees, and submits comments and recommendations to the standard setters as the collective voice of small and medium-sized firms, as needed.

Killian, who joined Clayton & McKervey in 2012 as a principal in the assurance department, was named a shareholder in July 2018. In leading the firm’s audit practice, Killian works with owners, CFOs and controllers of closely-held companies with operations in the United States, as well as international companies in Europe, Asia and Mexico. She is focused on the technical and compliance aspects of reporting, including audits and reviews of corporate financial statements and audits of employee benefit plans. She also offers assurance services such as review of internal controls and performance reporting. Additional areas of expertise include U.S. Generally Accepted Accounting Principles (GAAP), International Financial Reporting Standards (IFRS), AICPA Financial Reporting Framework for Small and Mid-sized Entities (FRF-SME) and the updated revenue recognition standard released by the Financial Accounting Standards Board (FASB) in 2015.

Killian is active in other business and professional organizations, serving on the Michigan Association of Certified Public Accountants (MICPA) Employee Benefits Task Force and the MICPA Audit Committee, and is involved in the French American Chamber of Commerce and the German American Chamber of Commerce. She holds a Bachelor of Arts in Accounting from Michigan State University and IFRS certification from the American Institute of Public Accountants.

About AICPA
The world’s largest member association representing the accounting profession, the American Institute of CPAs has a history that stretches back to 1887 of serving the public interest. Today, there are 431,000+ members in 137 countries and territories, representing many areas of practice, including business and industry, public practice, government, education and consulting. For more information, visit https://www.aicpa.org/.

About Clayton & McKervey
Clayton & McKervey is a full-service certified public accounting and business advisory firm helping closely held businesses compete in the global marketplace. The firm is headquartered in metro Detroit and services clients throughout the world. To learn more, visit claytonmckervey.com.

MICPA Honors Walsh Leadership, Alumni and Students

The Michigan Association of Certified Public Accountants (MICPA) has announced the 2018 MICPA Award Winners, and many have a Walsh connection. Honorees are recognized for outstanding commitment and leadership, both to the CPA profession and their communities, and will be celebrated at the MICPA Awards Dinner on October 3.

Robert M. Johnson, BAC ’85 and MSF ’92 is the newly elected Chair of the Board. Former Walsh Finance Department Chair Leon C. LaBrecque will receive the Chair’s Service Award. Alan C. Young, MST ’85, will be recognized as the outgoing Chair of the Board and Walsh President Emerita Stephanie Bergeron will be recognized as an outgoing Board Officer. Young’s firm, Alan C. Young & Associates, P.C. will receive the Firm Appreciation Award.

Several additional Walsh alumni will also be recognized:

Bailey Altman, BAC ’11 – Outstanding Task Force, Emerging Leaders
Tony Burdick, MSA ’94 – Outgoing Task Force Chair, Educators
Joanne M. Candela, MSF ’92 – Outstanding High School Teacher
Alex J. Drost, MSF ’16 – Emerging Leader Award; Outstanding Task Force, Emerging Leaders
Paul L. Gimbutis, MAC ’08 – Outstanding Task Force – Emerging Leaders
Victoria A. Mundinger, BAC ’11 – Outstanding Task Force – Emerging Leaders
Bradley P. Perry, MAC ’14 – Outstanding Task Force – Emerging Leaders
Earl J. Poleski, MST ’86 – Outstanding CPA in Government Impact
Jonathan Satterfield, BAC ’16 – Outstanding Task Force – Emerging Leaders
Audrey M. Victor, BAC ’91 – Outgoing Task Force Chair, Federal Tax
Andrew F. Zaleski, MST ’99 – Outgoing Task Force Chair, Mergers & Acquisitions

Current Walsh BAC student Joslyn Le will also be honored as part of the Outstanding Task Force as an Emerging Leader.

“We are so proud of the accomplishments of our alumni in the field of accountancy,” said Walsh President and CEO Marsha Kelliher. “Walsh was founded on our Accountancy program and these individuals are a strong reflection of our values of excellence, integrity and collaboration. We join the MICPA in honoring all of the 2018 award winners.”

For more information about Walsh Accountancy programs, visit https://www.walshcollege.edu/bachelors-ba-degree-accountancy.

Clayton & McKervey to present “Using Industry 4.0 to Improve Accounting Performance” on Oct. 17 as part of Automation Alley’s Tech Takeover series

Southfield, Mich.—September 24, 2018— Clayton & McKervey, a certified public accounting and business advisory firm helping closely held businesses compete in the global marketplace, will present “Using Industry 4.0 to Improve Accounting Performance” as part of Automation Alley’s ongoing Tech Takeover series sharing member expertise in various facets of Industry 4.0. The event will take place at Automation Alley on Wednesday, October 17 from 7:45 a.m. to 9:30 a.m., and the presenters are Sarah Russell CPA, and Tim Finerty CPA, shareholders and leaders of the firm’s systems integrators practice.

As automation continues to revolutionize the economy, there has never been a greater opportunity to understand and take advantage of various cash saving strategies. According to Russell and Finerty, many thriving companies are leaving money on the table by not utilizing federal and state tax credits and incentives in the area of research and development that support Industry 4.0 adoption and growth.

“Real-time data, combined with an understanding of the impact of tax credits and incentives, can often make a business more nimble and competitive,” Russell said. “Our presentation is geared to business owners, CFOs and controllers who want to learn how they can uncover savings within their own organizations to fund future research and development activities.”

For registration information, contact Automation Alley at 800-427-5100 or info@automationalley.com. Register online here.

About Clayton & McKervey
Clayton & McKervey is a full-service certified public accounting and business advisory firm helping closely held businesses compete in the global marketplace. The firm is headquartered in metro Detroit and services clients throughout the world. To learn more, visit claytonmckervey.com.
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