Are you an auditor trying to stay up to date on what’s going on at the AICPA, GAO and OMB? Follow the GLS blog for auditing to learn more about the changes happening at the auditing standards board as well as governmental auditing.
Stay ahead of the curve with insights on NASBA’s proposed CPE standards revisions. Frank Galasso from Galasso Learning Solutions breaks down key changes, what they mean for CPAs and CPE providers, and how to prepare for the future of continuing professional education. Discover how updated principles, flexible credit increments, and new engagement requirements are shaping quality CPE.
Get the latest updates from the 2025 AICPA Fall Council meeting in Denver, Colorado. Alex Romero shares key takeaways and highlights from two days of industry discussions and future-focused initiatives, including insights from Mark Koziel’s “Rise to the Future Together” presentation on the profession’s future, overview of the Alliance for Responsible Licensing panel and multi-industry perspectives on licensure and deregulation, highlights from guest speaker Bill Stainton on connecting opportunities and career growth, updates on the Rise 2040 initiative and worldwide facilitation sessions, state and federal advocacy updates, workforce development trends, and new licensing pathways for CPAs.
The AICPA has proposed updates to its peer review program, focusing on firms with private equity backing and alternative practice structures. Key changes include centralizing peer review administration under the AICPA’s National Peer Review Committee and updating reviewer qualifications for engagements under PCAOB standards, aiming to improve consistency and quality in oversight. Public comments on the proposal are due by October 25, with potential changes taking effect for reviews ending on or after December 31, 2025.
On August 28th, GSA’s Technology Transformation Services issued a request for comment on revisions to the Federal Audit Clearinghouse (FAC) data collection form. The FAC, which serves as the central repository for Single Audit submissions, plays a critical role in ensuring transparency, accountability, and accessibility of audit data. The proposed revisions are designed to improve clarity in reporting, strengthen fraud and abuse disclosures, and enhance overall data usability for auditors, federal agencies, and the public. Stakeholders are encouraged to review and provide feedback by October 27, 2025.
The third quarter of 2025 was packed with action from the standard setters. This blog will review the major proposals and final standards issued by the FASB, AICPA and GASB. Be in the know on what’s changing!
FOR NONPROFITS
Money Matters for Nonprofits demystifies financial statements and basic accounting, empowering nonprofit board members to better advise their organizations and make an even greater difference in the world.
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 Speaking Professional, 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 AICPA’s Women’s Initiative Executive Committee (WIEC). She also serves as a Subject Matter Expert for the Center for Plain English Accounting. She previously served on the AICPA’s Technical Issues Committee (TIC), the VSCPA’s Board of Directors, and is a past Chair of the NCACPA’s A&A committee. In addition, Melisa is the author of Money Matters for Nonprofits: How Board Members Can Harness the Power of Financial Statements by Understanding Basic Accounting which is available on Amazon or anywhere you purchase books online.
Melisa received a Top 50 Women in Accounting Award in 2021 by Ignition, 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.
