2025 Accounting and Auditing Update
Title : 2025 Accounting and Auditing Update
Instructors : Melisa Galasso
Stay informed and prepared with this comprehensive annual update on the latest developments in accounting and auditing. We'll begin with a deep dive into the Accounting Standards Updates (ASUs) effective in 2025, followed by insights from the FAF's 2024 PCC Review and an overview of FASB's Invitation to Comment - Agenda Consultation, which will shape the future of accounting standards. On the auditing side, we'll tackle the essential changes in quality management standards that firms must implement by the end of 2025. The session will also highlight common deficiencies identified by the DOL in EBP (Employee Benefit Plan) engagements and provide a peek at upcoming projects from the Auditing Standards Board (ASB). Join us to gain practical insights and actionable takeaways to navigate these updates with confidence.
Promotional Snippet
Field(s) of Study: Auditing , Accounting
-
More Info
Learning Objectives
- Recognize the impact of Accounting Standards Updates effective in 2025 on financial reporting
- Recall the changes made to PCC processes as a result of the 2024 PCC Review
- Identify potential topics identified by advisory groups in the FASB's ITC agenda consultation
- Identify the components of quality management
- Recall deficiencies identified by the DOL for EBP audits
- Recall key projects of the Auditing Standards Board
Level
UpdatePrerequisites
Prior experience with GAAP and GAAS
Advanced Preparation
None
2025 Single Audit Update
Title : 2025 Single Audit Update
Instructors : Melisa Galasso
This course provides auditors who serve nonprofit and governmental organizations with a comprehensive update on the changes impacting Single Audits in 2025. We’ll review key revisions to the Uniform Guidance issued in 2024 and their implications for this year’s audits. We will discuss updates in the 2025 Compliance Supplement. Additionally, we’ll explore topics of interest, including GAO findings on improper payments and government fraud, new requirements under the Financial Data Transparency Act (FDTA), and the Department of Education’s latest guidance on related parties. Stay informed and ready to tackle this year’s audit challenges!
Field(s) of Study: Auditing Governmental
-
More Info
Learning Objectives
- Identify changes to single audits as a result of the 2025 Compliance Supplement
- Recognize the impact of the 2024 Uniform Guidance on Single Audits
- Identify the key findings in GAO's Improper Payments: Information on Agencies’ Fiscal Year 2023 Estimates report (GAO-24-106927)
- Recognize the requirements of the FDTA
- Identify the impact of the DOE's Related Party Disclosure Requirements on education audits
- Identify the strategies recommended to fight fraud from the AICPA’s Government Performance and Accountability Committee's Detecting Government Fraud report
Level
UpdatePrerequisites
Prior experience with Single Audits
Yellow Book Ethics - 2025
Title : Yellow Book Ethics - 2025
Instructors : Alex Romero
The Yellow Book outlines essential ethical principles for governmental auditors, including serving the public interest, maintaining integrity, objectivity, and professional behavior. This course provides a focused review of these key concepts and their practical application in governmental auditing. Participants will also explore the independence standards, gaining insights on maintaining objectivity and avoiding conflicts of interest to ensure unbiased and professional audits.
Promotional Snippet
Field(s) of Study: Regulatory Ethics
-
More Info
Learning Objectives
- Identify independence rules in Yellow Book
- Recognize the ethical principles in GAGAS
Level
BasicPrerequisites
None
Advanced Preparation
None
What's Going on at the GASB (2025)
Title : What's Going on at the GASB (2025)
Instructors : Melisa Galasso
Stay up to date with the latest from the Governmental Accounting Standards Board (GASB) in this comprehensive 2025 update. This course will begin with a review of recently issued standards, including compensated absences, asset disclosures, risk and uncertainty disclosures, and financial reporting model improvements. Next, we’ll dive into the exposure drafts and ongoing projects covering the latest on agenda projects. Whether you’re in government accounting or involved in governmental audits, this course ensures you’re in the know about all things GASB, preparing you for the changes and developments shaping the future of governmental financial reporting.
Promotional Snippet
Field(s) of Study: Accounting Governmental
-
More Info
Learning Objectives
- Recognize the impact of GASB 101 on accounting for compensated absences
- Recall changes to the financial reporting model
- Identify changes to disclosure requirements for certain assets and risks
- Recognize proposed changes to governmental GAAP
Level
UpdatePrerequisites
Prior experience with governmental financial reporting
Advanced Preparation
None
What's Going on at the FASB (2025)
Title : What's Going on at the FASB (2025)
Instructors : Melisa Galasso
Although the pace of FASB's standard-setting has slowed, the changes that have been issued can significantly impact organizations across sectors. This course begins with an overview of the standards effective in 2025 for public, private, and nonprofit organizations. We'll then explore what's on the horizon, including standards effective after 2025, key exposure drafts, and ongoing FASB projects. Equip yourself with the insights you need to stay informed and up-to-date in financial reporting.
Promotional Snippet
Field(s) of Study: Accounting
-
More Info
Learning Objectives
- Recognize the impact of Accounting Standards Updates effective in 2025 on financial reporting
- Identify changes to financial reporting effective after 2025
- Recognize proposed changes to GAAP
Level
UpdatePrerequisites
Prior experience with US GAAP
Advanced Preparation
None
Marketing Info
Topic 842 - Implementing Leases Workshop
Title : Topic 842 - Implementing Leases Workshop
Instructors : Melisa Galasso
This updated course offers an in-depth look at the FASB leases standard (ASC 842), which requires organizations to recognize lease assets and liabilities on the balance sheet. This comprehensive course will cover recognition, measurement, presentation and disclosure requirements, while also focusing on a key area of change which is proper identification of a lease using a principles-based approach. We will discuss implementation requirements from both the lessee and lessor accounting models. In addition, we explore a variety of scenarios including short-term leases, purchase options, variable lease payments, and remeasurement. This course offers practical journal entry examples, lessons learned from implementation, and explores recently issued amendments to the lease accounting guidance.
Key Topics
Leases
Topic 842
Field(s) of Study: Accounting
-
More Info
Learning Objectives
- Define a lease under the new leases standard
- Apply recognition and measurement requirements of the new leases standard
- Describe the presentation and disclosure requirements of the new leases standard
- Prepare journal entries necessary to account for leases as both a lessee and lessor
Level
IntermediatePrerequisites
Prior experience with accounting for leases
Advanced Preparation
None
Resistance to Resilience: Striving for Technology Change Acceptance
Title : Resistance to Resilience: Striving for Technology Change Acceptance
Instructors : Peter Zender
Technology adoption often comes with resistance, but it's possible to transform this challenge into an opportunity for growth. This course explores the journey from resistance to resilience in embracing new technologies, focusing on overcoming barriers and ensuring successful implementation. Participants will examine cutting-edge audit technologies, including AI, data analytics, and automation, and learn how to align these innovations with both organizational and personal goals. Through case studies, insights into the Technology Acceptance Model (TAM), and practical discussions, participants will gain the tools and strategies to foster acceptance, driving seamless integration of new technology into both individual tasks and team workflows.
Promotional Snippet
Field(s) of Study: Information Technology
-
More Info
Learning Objectives
- Identify organizational needs for technology adoption using the Strategic Alignment Model (SAM) to ensure alignment between technological capabilities and business objectives.
- Recall employee-specific roadblocks to technology usage, drawing on the Technology Acceptance Model (TAM) to identify factors affecting internal user's acceptance and engagement.
- Recognize the key components of the Diffusion of Innovation theory, including adopter categories and influencing factors, and explain their relevance in understanding customer or client responses to technological innovations.
Level
UpdatePrerequisites
Some experience with accounting technology
Internal Controls Over Compliance vs Compliance
Title : Internal Controls Over Compliance vs Compliance
Instructors : Melisa Galasso
Course Description: Accurately identifying and testing controls over compliance is critical, yet it remains a common deficiency highlighted in peer reviews. This course offers a comprehensive overview of internal controls over compliance, with a focus on their application to Single Audits. Participants will learn how to effectively align internal controls with specific compliance requirements. Additionally, we will address one of the most frequent findings in audits of governmental entities receiving federal grants: the misidentification of controls and the confusion between compliance and control processes. This course will help clarify the distinction, equipping you with the tools to enhance audit quality and ensure compliance effectiveness.
Promotional Snippet
Field(s) of Study: Auditing Governmental
-
More Info
Learning Objectives
- Identify internal controls over compliance for a given compliance requirement
- Recognize compliance requirements per the Compliance Supplement
- Identify an audit procedure to test the operating effectiveness of a given control
Level
BasicPrerequisites
None
Advanced Preparation
None
The Current and Future Landscape of Audit Technology
Title : The Current and Future Landscape of Audit Technology
Instructors : Peter Zender
Explore the transformative impact of technology on the audit profession in this forward-looking course. Gain practical insights into cutting-edge tools and trends, including data analytics, artificial intelligence (AI), and automation, and discover how these advancements are revolutionizing audit methodologies and improving audit quality. Through engaging demos, case studies, and actionable tips, you’ll learn how to navigate the evolving audit landscape with confidence and adaptability. This session is designed to equip CPAs with the knowledge to embrace innovation and stay ahead in a rapidly changing profession.
Field(s) of Study: Information Technology
-
More Info
Learning Objectives
- Identify the latest audit technologies and tools available in the marketplace.
- Identify advancements in data analytics, artificial intelligence (AI), and automation that are transforming the audit process.
- Recognize the benefits and challenges of integrating these technologies into their firm’s audit practice.
Level
BasicPrerequisites
None
Advanced Preparation
None
Marketing Info
Common Deficiencies in SSARS Engagement
Title : Common Deficiencies in SSARS Engagements
Instructors : Melisa Galasso
While SSARS 21 has been around for nearly a decade, preparation, compilation and review engagements continue to be a hot topic for peer review. This course will concentrate on the most common peer review findings with a focus on how to comply in an efficient but practical perspective. This course will discuss the root cause of noncompliance so that overall engagement quality increases.
Key Topics:
* Compilation and review engagements
* Peer review
Promotional Snippet
Field(s) of Study: Auditing
-
More Info
Learning Objectives
- Describe common deficiencies identified in peer review
- Identify methods to improve quality
- Recognize root causes of noncompliance
Level
BasicPrerequisites
Experience with compilation and review engagements
Advanced Preparation
None