search

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
Show less keyboard_arrow_up

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
Show less keyboard_arrow_up

Environmental, Social and Governance (ESG) has become a hot topic among standard setters. This session will look at the work of the FASB, GASB, and AICPA in the areas of ESG. We’ll also look at the types of engagements CPAs can provide to entities who want assurance around their ESG reporting.

Field(s) of Study: Auditing , Accounting
Show less keyboard_arrow_up

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.

Promotional Snippet

Field(s) of Study: Auditing , Accounting
Show less keyboard_arrow_up

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
Show less keyboard_arrow_up

The Uniform Guidance identifies COSO and the Green Book as best practices for internal controls in governmental audits. This course provides a comprehensive review of the COSO framework, including its 2013 update, and explores its application to the Green Book. Attendees will learn to recall the five components and 17 principles of internal control, understand the benefits of adopting internal control frameworks, and recognize the rationale behind the COSO 2013 update and its impact on auditing practices. Additionally, the course will cover how to leverage Part 6 of the Compliance Supplement to effectively document internal controls.

Promotional Snippet

Field(s) of Study: Accounting Governmental
Show less keyboard_arrow_up

This course provides an in-depth exploration of the latest GASB standards, including compensated absences, certain asset disclosures, risk and uncertainty disclosures, and financial reporting model improvements. Gain valuable insights into the background and intent behind each standard, understand their potential impact, and learn how to effectively plan for implementation. Whether you're responsible for preparing or auditing governmental financial statements, this session will equip you with the knowledge and tools needed to navigate these changes with confidence and ensure compliance in 2025 and beyond.

Promotional Snippet

Field(s) of Study: Accounting Governmental
Show less keyboard_arrow_up

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
Show less keyboard_arrow_up

This course is designed for accountants in public practice and industry who focus on nonprofit and governmental entities. We will cover the basics needed to understand what makes nonprofit and governmental accounting & auditing unique. The course starts with the key financial reporting differences for governmental and nonprofit entities and then switches focus to review the fundamentals of Yellow Book and Uniform Guidance audits. This foundational course is perfect for those getting started in the nonprofit and governmental arena and those looking for a refresher.

Promotional Snippet

Field(s) of Study: Auditing Governmental , Accounting Governmental
Show less keyboard_arrow_up

Stay informed on the latest developments affecting not-for-profit (NFP) organizations with this 2025 GAAP update. While the FASB hasn’t issued recent NFP-specific standards, several Accounting Standard Updates (ASUs) will significantly impact nonprofits. This session will explore these ASUs and their implications for your organization. We’ll also dive into the evolution of programmatic investments and their interaction with the Current Expected Credit Losses (CECL) standard, followed by an introduction to IFR4NPO, a global initiative aimed at creating universal financial reporting standards for nonprofits. Gain the knowledge you need to navigate these changes with confidence and ensure compliance in the evolving NFP landscape.

Promotional Snippet

Field(s) of Study: Accounting Governmental
Show less keyboard_arrow_up

This course provides a comprehensive overview of key changes affecting governmental financial reporting and Single Audit engagements. We'll begin by examining the impact of GASB Statements 101-104 on financial reporting, followed by a detailed review of updates to the 2024 Uniform Guidance and the 2025 Compliance Supplement. Finally, we’ll explore emerging developments and other critical factors shaping Single Audits. Stay ahead of the curve with insights to help you adapt to these evolving standards.

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
    • 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

    Update

    Prerequisites

    Prior experience with governmental financial reporting and auditing

  • Events
Show less keyboard_arrow_up

Governmental accounting is distinct from other forms of accounting, requiring a unique approach to financial reporting. This course introduces the fundamentals of governmental accounting, including fund accounting principles and the modified accrual basis of accounting. Participants will explore the structure and purpose of fund financial statements alongside government-wide financial statements, gaining a comprehensive understanding of their layouts and key elements. The course also delves into critical topics such as the concept of component units, the role and structure of Management Discussion & Analysis (MD&A), and the preparation and importance of the Annual Comprehensive Financial Report (ACFR). Perfect for those new to governmental accounting, this course provides a solid foundation for understanding and applying these essential principles.

Promotional Snippet

Field(s) of Study: Accounting Governmental
Show less keyboard_arrow_up

This course will look at the various rules related to Independence and compare and contrast the requirements. This overview course will help auditors understand the nuances of independence and insure they meet the requirements to perform attest services for their clients. We will review the requirements for the AICPA, GAO, DOL and PCAOB.

Field(s) of Study: Auditing
Show less keyboard_arrow_up

When auditing management's accounting estimates, increased professional skepticism is necessary as there is always the potential for bias in areas of increased subjectivity & complexity. This course will demonstrate procedures to test the process used by management to develop estimates, as well as walk through common examples of accounting estimates that are included in the financial statements. It includes the updated requirements in SAS 143.

Promotional Snippet

Field(s) of Study: Auditing
Show less keyboard_arrow_up

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.

Promotional Snippet

Field(s) of Study: Auditing
Show less keyboard_arrow_up

This course will review common deficiencies identified by the AICPA and state boards of accountancy. It features discussion on a variety of topics, including analytical procedures, sampling, group audits and risk assessment. We will review the areas of concern and how you can overcome them by employing best practices.


Field(s) of Study: Auditing
Show less keyboard_arrow_up

Client interactions and professionalism are at the core of what we do as accountants. However, communication with clients is not always as straightforward as it may seem. Sometimes there will be difficult conversations and disagreements that can be tough to navigate. During this course, we will discuss best practices when communicating with the client, and also walk through complicated scenarios to practice what we learn.

Promotional Snippet


Field(s) of Study: Auditing
Show less keyboard_arrow_up

The AICPA has determined than 1 in 10 firms are not compliant with the risk assessment standards. This course will discuss how to properly identify risks and assess risks under AU-C 315. We will then review how to respond to identified risks under AU-C 330. The course will focus on the inherent risk model. We will also review common deficiencies and how a proper risk assessment can drive a more efficient and effective audit. 

Promotional Snippet


Field(s) of Study: Auditing
Show less keyboard_arrow_up

Inventory observations are often a right of passage for audit staff. This course will cover the basics of auditing inventory, including the related audit assertions, risks, & threats to inventory. During this course, we will also highlight the various substantive auditing procedures that staff should perform, and also walk through how to conduct a physical inventory observation. Learning Objectives: • Recall the audit assertions applicable to inventory.


Field(s) of Study: Auditing
Show less keyboard_arrow_up

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
Show less keyboard_arrow_up

This course will serve as an introduction to conducting effective walkthroughs to gain an understanding of the client's transaction processes as well as identifying internal controls within each process. This course will review the procedures, questions to ask, and documentation requirements of walkthroughs. It will also include real-world examples of the red flags that may arise while executing a walkthrough.


Field(s) of Study: Auditing
Show less keyboard_arrow_up

Building on Part 1, this course will review the application of sampling in financial statement audits with a focus on sampling for tests of controls. We'll also review the requirements for sampling in Single Audits with a focus on tests of controls and tests of compliance. 


Field(s) of Study: Auditing
Show less keyboard_arrow_up

Proper risk assessment is essential to designing an appropriate risk response during engagements. This course will introduce the audit risk model, as well as the various risk assessment procedures that auditors perform.


Field(s) of Study: Auditing
Show less keyboard_arrow_up

Bitcoin and crypto have been in the news recently for a variety of reasons. This course will cover the basics of accounting and auditing for cryptocurrency including recent standard setting by the FASB as well as a look at the AICPA's Accounting for and Auditing of Digital Assets practice aid.


Field(s) of Study: Auditing
Show less keyboard_arrow_up
Quality management will have a big impact on CPA firms. This course will cover both SQMS 1 and 2 as well as the related engagement level standards (SAS 146 and SSARS 26). The new standards will require a risk-based approach to quality management as well as the documentation of an information & communication process. SQMS 1 is required to be implemented at all accounting firms by December 15, 2025 but due to the size of the effort, firms should start their implementation process ASAP. SQMS 2 covers the appointment and eligibility of the engagement quality reviewer and the performance of the reviews. SAS 146 addresses the specific responsibilities of the auditor regarding quality management at the engagement level for an audit of financial statements and the related responsibilities of the engagement partner. SSARS 26 amends AR-C Sections to be consistent with these new standards. This two hour class will provide a deep dive into what you need to know to start your implementation process!

Promotional Snippet


Field(s) of Study: Auditing
Show less keyboard_arrow_up

The Enhancing Audit Quality Initiative has identified inadequate or nonexistent audit documentation as one of the most significant issues facing the profession today. Over half of the engagements reviewed by the AICPA failed to meet the requirements of AU-C 230, highlighting a critical need for improvement.

This course addresses common misconceptions about audit documentation and provides actionable strategies to overcome these deficiencies. Attendees will learn best practices to ensure compliance with professional standards, enhance audit quality, and mitigate risks associated with poor documentation. Whether you are an experienced professional or new to auditing, this course will help you strengthen your documentation practices and uphold the highest standards of the profession.

Promotional Snippet


Field(s) of Study: Auditing
Show less keyboard_arrow_up

SAS 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement, was issued in October 2021. The audit standard amends AU-C 315, including many changes to address common audit deficiencies. This course will provide an overview of SAS 145 and its changes to AU-C 315. Attendees will have an opportunity to evaluate the impact on audit methodology and documentation.


Field(s) of Study: Auditing
Show less keyboard_arrow_up

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
Show less keyboard_arrow_up

SAS 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement, was issued in October 2021. The audit standard amends AU-C 315 including many changes to address common audit deficiencies. This course will provide an overview of SAS 145 and its changes to AU-C 315.

Key Topics 

Risk Assessment

AU-C 315


Field(s) of Study: Auditing
Show less keyboard_arrow_up

Sampling is often identified as a common audit deficiency in peer review. This course will review when is sampling applicable and basics of planning a sample. We'll then focus on the application of sampling in financial statement audits with a look at sampling for substantive procedures. We'll look at the use of monetary unit sampling and tools that can be leveraged to reduce bias in sampling.


Field(s) of Study: Auditing
Show less keyboard_arrow_up