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Title : 2025 Accounting and Auditing Update for Small Businesses

Instructors :  Melisa Galasso

This update course focuses on the accounting and auditing changes that matter most to small businesses. We'll begin with an overview of the FASB's Accounting Standards Updates (ASUs) most likely to impact small business entities, followed by insights from the 2024 Private Company Council (PCC) Review and FASB's Invitation to Comment - Agenda Consultation, which will guide future standard-setting initiatives relevant to small businesses. Next, we'll explore alternative financial reporting frameworks that may offer practical solutions for small businesses seeking options beyond US GAAP. Finally, we'll shift to the auditing perspective, examining the new quality management standards that practitioners providing attest services including compilations for small business clients must implement. This session equips you with the insights and tools needed to navigate the evolving landscape of small business accounting and auditing with confidence.

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Field(s) of Study: Auditing , Accounting

NASBA Approved

Update Level

4 Hrs

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    Learning Objectives

    • 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
    • Recognize alternative financial reporting options for private entities
    • Identify the components of quality management

    Level

    Update

    Prerequisites

    Prior experience with GAAS & GAAP

    Advanced Preparation

    None

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Title : What's Going on at the AICPA (2025)

Instructors :  Melisa Galasso

The AICPA is buzzing with activity in 2025, and this course will ensure you stay ahead of the curve. We’ll begin by exploring the new quality management standards which will be effect this year and their impact on practice management. From there, we’ll dive into the latest ethics standards, recent SSARS updates, and changes to the Peer Review Program driven by quality management requirements. To round out the session, we’ll examine common deficiencies in employee benefit plan (EBP) audits and highlight the initiatives of the National Pipeline Advisory Group to address the talent pipeline challenge. Don’t miss this comprehensive overview of what’s happening at the AICPA!

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Field(s) of Study: Auditing

NASBA Approved

Update Level

3 Hrs

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    Learning Objectives

    • Identify the components of quality management
    • Identify the impact of recently issued ethics interpretations on independence
    • Recall deficiencies identified by the DOL for EBP audits
    • Recognize changes to the peer review process
    • Identify the recommendations made by the NPAG to improve the accounting pipeline
    • Recall key projects of the Auditing Standards Board
    • Recognize the impact of recent standard setting on the applicability of AR-70

    Level

    Update
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Title : 2025 Arizona Ethics

Instructors :  Melisa Galasso

This course is designed to meet the four-hour ethics CPE requirements mandated by the state law in which the course is offered. We'll start the session with a review of key areas of the Arizona Administrative Rules for CPE and Professional Conduct. Then we'll review the key Arizona Revised Statutes relating to licensing and registration. We'll then transition to the AICPA ethics standards as the Professional Ethics Executive Committee (PEEC) of the AICPA has been very busy issuing new and updating existing ethics rules. This course will provide an overview of ethics rules that are recently issued and soon to be effective. CPAs in both industry and public accounting need to know these to be compliant. 

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Field(s) of Study: Regulatory Ethics

Update Level

4 Hrs

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    Learning Objectives

    • Recall the impact of interpretations issued by PEEC
    • Identify changes to the independence standards
    • Recall state laws, regulations and rules regarding the practice of public accounting

    Level

    Update

    Prerequisites

    Prior experience with the Code of Professional Conduct 

    Advanced Preparation

    None

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Title : 2024 Governmental Auditing Update: Yellow Book & Uniform Guidance

Instructors :  Melisa Galasso

Yellow Book & UNI Guidance  Yellow Book and Single Audit engagements are considered must-select engagements for Peer Review. This course will cover the Yellow Book independence requirements which are required any time an auditor is performing a Yellow Book or Single Audit, even when the engagement is for a for-profit entity. We'll take a look at the major changes in the 2024 Compliance Supplement as well as the changes to the Uniform Guidance. We'll close with major deficiencies identified by the federal agencies and peer reviewers. Identify changes to single audits as a result of the 2024 Compliance Supplement Describe the changes to Chapter 5 of Yellow Book.


Field(s) of Study: Auditing

NASBA Approved

Update Level

4 Hrs

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    Learning Objectives

    • Recognize changes to the Uniform Guidance 
    • Recall common deficiencies found related to Single Audits 
    • Recall the independence requirements in Yellow Book Identify the proper method of identifying and testing internal controls over compliance

    Level

    Update

    Prerequisites

    Prior experience with GAGAS and the Uniform Guidance

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Title : How to Audit: Cash

Instructors :  Jacyln Veno

Cash is essential to every business, and is often one of the first accounts audit staff are exposed to. This course will cover the basics of auditing cash, including the related audit assertions, risks, & threats to the cash balance. During this course, we will also highlight the various substantive auditing procedures that staff should perform, and also walk through some real-world examples. 


Field(s) of Study: Auditing

NASBA Approved

Basic Level

2 Hrs

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    Learning Objectives

    • Recall the audit assertions applicable to the cash balance
    • Recognize the risks & threats related to the cash balance
    • Identify substantive auditing procedures that are used to obtain comfort over cash 

    Level

    Basic

    Prerequisites

    None

    Advanced Preparation

    None

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Title : Best Practices: Audit Workpapers & Proper Documentation

Instructors :  Jacyln Veno

AU-C Section 230 requires that auditors maintain sufficient audit documentation throughout the engagement. Audit documentation is essential, as it serves as the evidence that auditors performed appropriate procedures to support their opinion on the financial statements. This course will cover the basis and best practices of audit workpapers and proper audit documentation, as well as the common deficiencies in audit documentation. 


Field(s) of Study: Auditing

NASBA Approved

Basic Level

2 Hrs

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    Learning Objectives

    Identify common deficiencies in audit documentation on engagements

    Recall the documentation requirements of audit workpapers from AU-C 230

    Level

    Basic

    Prerequisites

    None

    Advanced Preparation

    None

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Title : All About Fraud - Examples, Prevention And Auditing

Instructors :  Melisa Galasso

Fraud is constantly in the news. Whether its employee retention credit mills, FTX, the City of Dixon, it appears like fraud is everywhere. We'll start this session with a review of the common fraud schemes as identified in the 2024 Report to the Nations. We'll also review the commonalities of fraudsters. We'll then look at methods of prevention. We'll close with a look at the auditor's responsibility for the consideration of fraud in AU-C 240.


Field(s) of Study: Auditing

NASBA Approved

Basic Level

4 Hrs

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    Learning Objectives

    • Recall common fraud schemes
    • Identify preventative measures to deter fraud
    • Identify recent frauds in the news
    • Recall the data from the 2024 Report to the Nation
    • Identify the responsibility of the auditor with respect to fraud

    Level

    Basic

    Prerequisites

    None

    Advanced Preparation

    None

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Title : Preparation Compilations and Review Engagements

Instructors : 

This course is an introduction to preparation, compilation, & review engagements. During this course, we will compare and contrast these different engagements by reviewing the procedures that should be performed, different reports, as well as the level of assurance specific to each type of engagement. 


Field(s) of Study: Auditing

NASBA Approved

Basic Level

2 Hrs

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    Learning Objectives

    • Recognize the difference between preparation, compilation, & review engagements
    • Identify the specific procedures related to preparation, compilation, & review engagements

    Level

    Basic

    Prerequisites

    None

    Advanced Preparation

    None

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Title : 2025 AICPA Regulatory Ethics Update

Instructors :  Melisa Galasso

Stay ahead of the curve with this comprehensive ethics update, focusing on the latest developments from the AICPA's Professional Ethics Executive Committee (PEEC). The PEEC has been active recently, issuing new guidance and updating existing rules. In this session, we'll explore the most impactful changes, including updates on fees, recruiting, CPE, and NOCLAR (noncompliance with laws and regulations). CPAs in both industry and public accounting will gain the insights needed to stay compliant in an evolving regulatory environment. We'll also provide a peek at key projects PEEC is expected to finalize soon, ensuring you're prepared for what's next.

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Field(s) of Study: Regulatory Ethics

NASBA Approved

Update Level

2 Hrs

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    Learning Objectives

    • Identify the impact of recently issued ethics interpretations on independence
    • Recognize changes to ethics standards issued by PEEC
    • Identify proposed changes to ethics requirements

    Level

    Update

    Prerequisites

    Prior experience with the Code of Professional Conduct

    Advanced Preparation

    None

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Title : How to Audit: Prepaid Expenses

Instructors :  Jacyln Veno

It is imperative that audit staff understand the fundamentals of prepaid expenses. This course will cover the basics of auditing prepaid expenses, including the related audit assertions, risks, & threats to the prepaid expense balance.  During this course, we will also highlight the various substantive auditing procedures that staff should perform, and also walk through some real-world examples.

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Field(s) of Study: Auditing

NASBA Approved

Basic Level

2 Hrs

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    Learning Objectives

    • Recall the audit assertions applicable to the prepaid expense balance •Recognize the risks & threats to the prepaid expense balance
    • Identify substantive auditing procedures that are used to obtain comfort over prepaid expenses CPE 

    Level

    Basic

    Prerequisites

    One year of audit experience

    Advanced Preparation

    None

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