2025 Annual Update for Governmental Accountants & Auditors

This comprehensive course provides the critical updates governmental accountants and auditors need to stay informed. We’ll begin with a review of recent GASB standards, including compensated absences, asset disclosures, risk and uncertainty disclosures, and financial reporting model improvements. Participants will also gain insights into GASB’s current projects, exposure drafts, and agenda progress to ensure they are up to date on what’s ahead.

For auditors, we’ll cover key changes to governmental auditing standards, including the 2024 Yellow Book updates, the transition from quality control to quality management, and implementation timelines, with early adoption options. Single Audit updates will include the 2024 Uniform Guidance changes, the 2025 Compliance Supplement, GAO reports on improper payments and government fraud, the Financial Data Transparency Act (FDTA), and recent Department of Education guidance on related parties.

Key Takeaways:
- Impactful GASB standards effective now and those coming soon.
- The 2024 Yellow Book’s focus on quality management and key audit matters.
- Single Audit updates, including 2025 Compliance Supplement changes and guidance on related parties.

Learn how these updates impact compliance and audit quality, ensuring your organization or clients are prepared. This course ensures you’re equipped with the knowledge needed to navigate the evolving landscape of governmental accounting and auditing with confidence.

Upon completing this course, a learner will be able to:

  • 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
  • Recall the components of quality management in the 2024 Yellow Book
  • 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
Tag: Recorded Content
CPE Credits: 6-Cr Webinar; (8-Cr QAS)
Program Level: Update
Instructor: Melisa F. Galasso
Qualifications: Yellow Book 24
Prerequisites: Prior experience with governmental accounting and auditing
Advanced Preparation: None
Jaclyn Veno CPA | Auditing Level Training | CPE

Melisa Galasso, CPA, CSP, CPTD

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.