Newsletter September 2022
September 1, 2022
We anxiously await the proposed ASU from FASB on related party leases and leasehold improvements. GASB created a Going Concern Uncertainties and Severe Financial Stress Disclosures Task Force.
September was a light month for standard setting. The FASB issued only 1 final standard, ASU 2022-04, Disclosure of Supplier Finance Program Obligations, which is a fairly niche standard to provide users with an understanding of these financing arrangements. However, FASB had important meetings with both the Not-for-Profit Advisory Committee and the Private Company Council. In addition, as we previously reported in our alert, they approved for exposure changes to related party leases, which we expect to be issued for comment very soon. The AICPA issued one exposure draft on 529 plans but no SASes, SSARS, or SSAEs were proposed or issued. GASB did not issue any proposed or final standards, but did continue to work on several large standards. Since many auditors and clients are knee deep in the 10/15 deadline, we suspect that the lack of movement is much appreciated by CPAs everywhere!

September 2022

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.