2025 Annual Update for Accountants & Auditors
Overview
While the pace of FASB's standard-setting has slowed in recent years, the standards that have been issued will be impactful for many organizations. This course will begin with a review of standards effective in 2025 for public, private, and nonprofit organizations. From there, we'll explore upcoming standards, FASB exposure drafts, and ongoing projects to ensure you're prepared for what's next in financial reporting.
The second half of the course will shift focus to developments at the AICPA. From quality management to ethics standards and the talent pipeline, there's no shortage of activity. We'll start with a detailed look at the quality management standards effective this year and their impact on firms, including changes to the Peer Review Program. Next, we'll cover essential ethics standards and the latest SSARS updates. We'll also examine common deficiencies in employee benefit plan (EBP) audits and discuss the initiatives of the National Pipeline Advisory Group.
Delivery Method: Individual webcast
CPE Credit: Accounting, Auditing
Program Level: Update
Highlights
- Accounting Standards Updates
- Auditing & Accounting
- Yellowbook
Prerequisites
Prior experience with GAAP & GAAS
Designed For
Accounting Professionals
Objectives
- Recognize the impact of Accounting Standards Updates effective in 2025 on financial reporting
- Identify proposed changes to ethics requirements
- 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
Preparation
None
Leader(s):
Leader Bios
Melisa Galasso, CEO, Galasso Learning Solutions
Melisa F. Galasso is the founder and CEO of Galasso Learning Solutions LLC. A CPA with nearly 20 years of experience in the accounting profession, Melisa designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting.
Her passion is providing high-quality CPE that is meaningful, creates efficiencies and improves quality, and positively impacts ROI. She also supports essential professional development, audit level training, and train the trainer efforts.
Melisa is a Certified Professional in Talent Development (CPTD) and has earned the Association for Talent Development Master Trainer™ designation. Her passion for instructional design and adult learning techniques is one of the differentiators that set her apart from other CPE providers.
She also serves on the FASB's Not-for-Profit Advisory Committee (NAC), AICPA Council, and the VSCPA's Board of Directors. She previously served on the AICPA's Technical Issues Committee (TIC) and is a past-Chair of the NCACPA's A&A committee. In addition, Melisa authors the AICPA's State and Local Government Guide and serves as a SME for the Center for Plain English Accounting.
Melisa is a 2020 Enterprising Women of the Year Award recipient and was honored as a "40 under 40" by CPA Practice Advisor in 2017, 2018, and 2019. She was also named the 2019 Rising Star by her regional NAWBO chapter, received the Don Farmer award for achievement in technical content instruction, and earned several other awards for public speaking and technical training.
Prior to establishing Galasso Learning Solutions, Melisa worked in public accounting, industry, internal audit, and academia.
She received a Bachelor of Science in Business Administration with a concentration in Accounting and International Business from Georgetown University.
On a personal level, Melisa enjoys traveling, watching her daughter ride her horse, and spending quality time with family. She finds balance through yoga, is an avid reader, and frequents local performing arts shows. Melisa actively supports several causes that empower women.
Awards & Certifications
Certified Public Accountant, Licensed in Virginia and North Carolina
Certified Professional in Talent Development (CPTD)
Master Trainer™ Designation, Association for Talent Development
2019 Rising Star Award, National Association of Women Business Owners
Don Farmer Award (2016), NCACPA
40 Under 40 (2017, 2018, 2019), CPA Practice Advisor
50 Most Influential Women (2016, 2019), Mecklenburg Times
Outstanding Discussion Leader (2016, 2017, 2018), AICPA
5.0 Speaker (2015, 2016, 2017), NCACPA
Outstanding Professional Speaker (2019), NCACPA
Enterprising Women of the Year Award (2020)
Top 5 Under 35 (2016), VSCPA
Top 25 National Instructor (2015, 2016), Becker Professional Education
Women to Watch Emerging Leader (2013), NCACPA
Super CPA (2007), Virginia Business Magazine
Non-Member Price $219.00
Member Price $189.00