Discover the latest insights from the AICPA & CPA.com Audit Transformation Report in this Genuine Learning Blog recap. Jaclyn Veno breaks down five key themes shaping audit modernization, highlights barriers firms face, and shares actionable strategies for improving audit quality, efficiency, and client experience. Stay ahead with practical takeaways for your firm’s transformation journey.
Get a comprehensive recap of 2025’s key accounting and auditing updates in this Genuine Learning Blog episode. Melisa Galasso reviews major changes from FASB, GASB, and other standard-setters, explains notable issued standards, and shares what’s on the agenda for 2026. Perfect for CPAs and professionals seeking actionable insights and practical continuing education.
In November, the standard-setting world stayed busy: the FAF announced new trustees and appointed Catherine Shakespeare to the FASB, which also issued two final ASUs and held multiple meetings on topics from equity method updates to digital assets. GASB advanced its Revenue and Expense Recognition project with decisions on non-monetary consideration and valuation of donated assets. The Auditing Standards Board met to refine its strategy, while PEEC tackled a wide slate of ethics topics, including alternative practice structures, AI, and group audits. Meanwhile, HHS issued its updates to Uniform Guidance, and OMB finally released the 2025 Compliance Supplement—so far showing no material changes from the draft.
Dive into the latest updates from the AICPA with Galasso Learning Solutions! In this episode, Alex Romero breaks down the recent revisions to the Professional Code of Ethics, focusing on how terminology changes will align the standards with modern quality management practices. Learn what’s new, what’s staying the same, and how these updates impact your firm’s compliance—just in time for the December 15, 2025 deadline. Perfect for CPAs and audit professionals seeking clear, actionable insights on quality management and ethics.
In November, the standard-setting world stayed busy: the FAF announced new trustees and appointed Catherine Shakespeare to the FASB, which also issued two final ASUs and held multiple meetings on topics from equity method updates to digital assets. GASB advanced its Revenue and Expense Recognition project with decisions on non-monetary consideration and valuation of donated assets. The Auditing Standards Board met to refine its strategy, while PEEC tackled a wide slate of ethics topics, including alternative practice structures, AI, and group audits. Meanwhile, HHS issued its updates to Uniform Guidance, and OMB finally released the 2025 Compliance Supplement—so far showing no material changes from the draft.
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.
