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.
On March 14, 2025, the ASB released its Proposed Strategic Plan for 2026–2030, building on the success of its 2021–2025 plan. The new proposal outlines incremental updates aligned with its public interest mission, addressing key challenges, opportunities, and strategic initiatives for the future.
The AICPA’s Auditing Standards Board is proposing changes to external confirmations. The standard clarifies what qualifies as an external confirmation and adds new requirements around the confirmation of cash and cash equivalents. Comments are due to the ASB by June 30, 2025.
On February 25th, 2025, the AICPA issued Proposed SSAE: Scope Limitations in a Review Engagement.
In our Q1 2025 in Review Blog, we look at the standard setting activities of the FASB, GASB and AICPA. The first quarter had a flurry of activities with promises of more standards coming down the pike. This is a great way to keep up to date during busy season without getting in the weeds!
The number of issued standards likely hit one of the lowest points in history! This blog will review the accounting, auditing, and ethics standards issued by the FASB, GASB, and AICPA in 2024. While 2024 wasn’t busy for final standards, there was a flurry of due process documents, which means we may see an uptick in 2025.
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.
