Peter S. Kennedy, CPA, Director of Cover & Rossiter’s Audit Practice, was recently selected to sit on a national advisory committee for the Financial Accounting Standards Board (FASB).
Mr. Kennedy was selected to be one of 15-20 individuals nationally to serve as a member of the FASB’s new Not-for-Profit Financial Statements Resource Group. This group will advise the FASB in future Generally Accepted Accounting Principles (GAAP) changes for nonprofits. The Resource Group will provide the FASB’s Board and Staff with an important discussion forum and advice on critical issues in the Board’s efforts to improve the presentation of information in financial statements of not-for-profit organizations. Resource Group members will also provide a key vehicle for hearing perspectives from the not-for-profit sector. In addition, they help the Board and staff in communicating to the sector about those issues, the tentative decisions reached, and proposed changes to existing guidance.
“Cover & Rossiter is honored to have Pete leading our Audit Team and thrilled to announce that he has been chosen to participate in the Resource Group. Pete’s selection recognizes his tremendous knowledge and experience in the nonprofit sector” Geoff Langdon, Managing Director
Diane Burke, CPA, AEP, Director of Cover & Rossiter’s Personal Tax Practice, was honored on January 20, 2012 at the Middletown Area Chamber of Commerce (MACC) Annual Dinner at the Chesapeake Inn. Ms. Burke was recognized for her outstanding accomplishments and dedication to the MACC. She received the MACC Will Kirkwood President’s Award, which is given to the Chamber Board Member who has done the most work to benefit the chamber the previous year.
“We are proud to have Diane as the driving force behind our Middletown presence, we are fortunate to have her on our team and excited that she was recognized for all of her hard work at the Middletown Chamber” Geoff Langdon, Managing Director.
Pete Kennedy joined Cover & Rossiter in 1999 and was named Director in 2005. Pete is an expert in nonprofit accounting and auditing issues and has been privileged to work with many of the region’s leading nonprofit institutions. Mr. Kennedy is responsible for the firm’s quality control policies and procedures; ensuring Cover & Rossiter meets or exceeds all professional standards. He is a graduate of Clarkson University with a Bachelors degree in Accounting. Mr. Kennedy retired from the Navy Reserve after twenty-two years of service (six years active duty and sixteen as a Reservist). Pete enjoys spending time with his family and volunteers as a cash counter at his church and with the Delaware Community Foundation’s Audit Committee.
Ms. Burke joined Cover & Rossiter in 1996, who was named a Director in 2003, leads the Personal Tax Practice. A specialist in trust and estate tax matters, she also has expertise in estate and trust tax filings, estate administration, and preparation of formal fiduciary accountings. She holds a BS in Finance, Summa Cum Laude from New York University, She subsequently earned an MBA in Accounting, with distinction, from the New York University Graduate School of Business. Diane resides in Wilmington with her husband and has three sons.
About Cover & Rossiter – Cover & Rossiter is one of Delaware’s oldest and most respected certified public accounting and advisory firms. Since 1939, Cover & Rossiter has established and maintained longstanding relationships with many of the region’s most prominent businesses, individuals, non-profit organizations and foundations. With offices in Wilmington and Middletown, Cover & Rossiter provides a full range of tax, accounting and audit services with a reputation for unsurpassed client service.
For more information, please contact Lindsay Wheeler, LWheeler@CoverRossiter.com or (302) 656-6632.