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.
https://youtu.be/2CHLg8YsuMk The AICPA’s Auditing Standards Board issued an exposure draft of a proposed SAS and proposed SSAE titled Amendments to the Description of the Concept of Materiality. When effective, the proposed amendments would impact the description of...
https://youtu.be/EjNJIkikhh4 The Professional Ethics Executive Committee (PEEC) of the AICPA has released seven new FAQs on hosting services. The hosting standard was to be effective in 2018 but was delayed until July 1, 2019. pending issuance of further guidance like...
The International Auditing and Assurance Standards Board has issued a trio of international audit quality proposals. The proposals address risk assessment for firms to address quality objectives, new guidance on selection of quality reviewers and an update to ISA 220. Comments are due July 1, 2019.
The AICPA has issued its first proposed standard relating to CPAs who perform forensic work. After working with multiple committees including The Forensic and Valuation Services Executive Committee (FVSEC), Forensic and Litigation Services Committee, Business Valuation Services Committee, Certified in Financial Forensics Credential Committee and Accredited in Business Valuation Credential Committee, they issued their first proposed Statements on Standards for Forensic Services. The proposed standard would be followed by CPAs who perform work in the areas of litigation and investigation. Comments are due February 28, 2019.
This blog provides a high-level of overview of the final standards issued in 2018 by the FASB, GASB and AICPA. The FASB was quite busy issuing 20 Accounting Standard Updates (ASUs) while not a record definitely kept us busy this year. GASB issued 3 Statements as well as their annual Implementation Guide. The AICPA’s only issued one standard but we expect a flurry of standards in 2019! We will have a webinar on January XX, to cover the 20 ASUs issued by the FASB. Spots are still available.
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.
