TOPICS OFFERED

​Below is a sampling of the technical accounting, auditing, and professional development topics offered. Many topics are available in different lengths and courses can be customized or combined to meet your organization’s specific needs. If you are not sure where to begin, contact us for assistance with a needs assessment. We can talk about your organization’s objectives and design a learning plan that meets your needs.

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Classroom

Government & Not for Profit (YB 24)

Governmental Accounting & Auditing Update

The Government Accounting Standards Board (GASB) has been very busy lately. This course will review the accounting standards newly issued by GASB, including Leases, OPEB and Fiduciary Activities. We will focus on the implementation of standards that will be effective in the near future. We’ll also discuss GASB’s current projects and exposure drafts so you better understand what’s coming down the road. Then we’ll switch gears and focus on governmental auditing. We will close with a look at the major changes in Single Audit and Yellow Book impacting governmental accountants and auditors.

Learning Objectives:

Attendees will be able to:

  • Describe changes to Yellow Book (2018 Revision)
  • List changes to the Compliance Supplement
  • Recall audit impact of CARES Act Funding
  • Identify changes to governmental accounting issued by GASB

This course can be delivered in 8 or 4 hours.

GASB Update

The Government Accounting Standards Board (GASB) has been very active in its standard setting agenda. This course reviews accounting standards issued by the Government Accounting Standards Board (GASB) that have been recently issued as well as those that will be effective in the near future. Key areas of focus will include fiduciary activities, leases, PPP and SBITAs. We’ll also discuss accounting for various CARES Act funding. In addition to reviewing the standards, we will also focus on implementation strategies and challenges. Finally, we will turn our attention to the future by discussing GASB’s current projects and exposure drafts including revenue and expense recognition and the financial reporting model.

Learning Objectives:

Attendees will be able to:

  • Describe the impact of newly issued and recently effective standards on governmental accounting
  • Recall the impact of proposed changes to governmental financial reporting.

​​This course can be delivered in 4 or 2 hours.

GASB Leases: What You Need to Know to Implement

Government leases are getting an overhaul. GASB Statement 87 was issued in 2017 and provides an update on the proper accounting for leases from both the lessee and lessor point of view. This course will help attendees understand the nuances of the updated definition of a lease as well as other significant changes to terminology. Attendees will discuss the impact of the changes to financial reporting as well as the key challenges that governments and auditors will need to consider to properly implement the new standard. This interactive course includes the preparation of journal entries to assist in understanding impact. 

Learning Objectives:

Attendees will be able to:

  • Define a lease per GASB 87
  • Prepare journal entries for lessee and lessor accounting compliant with GASB 87

​​This course is 2 hours and is often combined with other topics.

What You Need to Know About the Changes to Yellow Book

In 2018, the Yellow Book received an update. This course will cover the major changes auditors need to know when performing audits under GAGAS (aka Yellow Book or Government Auditing Standards). Areas of focus will include the updated independence requirements, form and organization of the guidance as well as quality control. The 2018 revision was effective for financial audits, attestation engagements, and reviews of financial statements for periods ending on or after June 30, 2020, and for performance audits beginning on or after July 1, 2019. Learning Objectives:

Attendees will be able to:

  • Describe the changes to Yellow Book
  • Analyze how nonaudit services impact independence

This update course is 1 or 2 hours and is often paired with other governmental auditing or accounting topics.

Yellow Book Independence

One of the largest changes to the 2018 Yellow Book was the change to the Independence standards. This course will focus on the independence framework as well as the impact of nonaudit services on independence. We’ll close with a review of key services that can impair independence.

Learning Objectives:

Attendees will be able to:

  • Recall threats to independence
  • Identify safeguards that mitigate the threats

This course can be delivered in 1 or 2 hours segments. 

Greenbook & Internal Controls

​The Uniform Guidance lists both COSO and the Green Book as best practices for internal controls frameworks. This course will cover the updated Green Book framework. We will refresh our understanding of internal controls for governmental entities including a review of the definition of internal controls under Green Book. We will also discuss the five component of internal controls as described in the updated Green Book. We will apply the newly introduced principles and attributes of internal control via lively discussion and in a case study.

Learning Objectives:

Attendees will be able to:

  • List the principles for each component of internal controls
  • Describe how attributes impact the effectiveness of a control

This course is 1-2 hours in length.​

Leveraging Internal Control Frameworks

The Uniform Guidance lists both COSO and the Green Book as best practices for internal controls. This course will review the updated 2013 COSO Framework with information regarding the history of COSO, what changes were made, what didn’t change and the definition of effective internal control. We’ll then switch gears and see how Green Book leveraged the COSO update to improve the Green Book framework for governmental entities. We’ll discuss the definition of internal control as well as review the identified principles.

Learning Objectives:

Attendees will be able to:

  • List the five components of internal control
  • Explain how frameworks are used to document internal controls
  • Describe the principles / attributes for each component of internal control

This course can be delivered in 1 or 2 hour sessions.

Compliance Testing for Single Audits

This course will help accounting firms better plan their audits of governmental and nonprofit entities under the Uniform Guidance. We will focus on the relationship between the requirements of US GAAS, Government Auditing Standards (Yellow Book), and the Single Audit Act (Uniform Guidance). This course provides you with the knowledge to be more efficient and effective at planning and performing audits in accordance with the requirements of the Uniform Guidance and the Single Audit Act. It is designed to address the common issues auditors have with testing compliance. We’ll look at the differences between testing controls and substantive testing as well as sampling and the impact of dual-purpose samples to improve efficiency and effectiveness of Single Audits.

Learning Objectives:

Attendees will be able to:

  • Describe the differences between testing controls over compliance and substantively testing compliance
  • Design effective and efficient methods to test compliance requirements that could have a direct and material effect on a major program

This course can be delivered in 8, 4 or 2 hours.

Common Single Audit Deficiencies

This training course is designed to walkthrough the process for performing audits under the Uniform Guidance. We’ll cover the major deficiencies identified by the AICPA and discuss how to properly perform procedures to be compliant. High level areas of training include the documentation, sampling, reporting under Uniform Guidance, risk Assessment under Uniform Guidance, Internal Controls Over Compliance and Compliance Testing.

Learning Objectives:

Attendees will be able to:

  • Complete audit documentation that is compliant with the Uniform Guidance
  • Describe proper sampling methodology
  • Identify appropriate single audit reports

This course is typically a 4-hour session.

Internal Controls Over Compliance versus Compliance

Based on an AICPA Enhancing Audit Quality study, 23% of all single audits subject to enhanced oversight were materially non-conforming with professional standards due to failure to properly test controls over compliance. This course will provide an overview of internal controls over compliance specifically related to Single Audits. We will discuss how to apply the concept of internal controls to various compliance requirements. A common finding in the audits of governmental entities receiving federal grants is the misidentification of controls and mistaking compliance for a control. Attendees will focus on differentiating between compliance versus controls over compliance.

Learning Objectives:

Attendees will be able to:

  • Properly document internal controls over compliance in conformity with the Uniform Guidance
  • Compare ICFR with ICOC

This course can be delivered in 1 or 2 hour sessions.

2021 Uniform Guidance Update

This course is designed to provide participants with the information to properly perform and document a Single Audit under the Uniform Grant Guidance. We’ll focus on considerations that will impact current audits including the new 2020/21 Compliance Supplement including the 2020 Addendum. We’ll also look at common deficiencies in single audits including internal controls over compliance and how to identify direct and material compliance requirements.

Learning Objectives:

  • List common deficiencies found in Single Audits
  • Describe the changes to the new Compliance Supplement
  • Recall the impact of CARES Act funding

​​This course is typically delivered in 2 hours.

Single Audit Workshop

This course is designed to provide participants with the information to properly perform and document a Single Audit under the Uniform Grant Guidance. High-level areas of training include:

  • Documenting and performing a Single Audit under the Uniform Grant Guidance
  • Risk assessment and linking procedures
  • Internal controls over compliance
  • Documentation of independence considerations and non-audit services
  • Sampling
  • Proper Documentation

Learning Objectives:

Attendees will be able to:

  • Properly perform audit procedures in compliance with the Uniform Guidance

This course can be delivered in 8, 4 or 2 hours. Number of areas covered are impacted by length.

Sampling for Single Audit

In the 2019 and 2020 Compliance Supplements, OMB called out audit sampling as an area for improvement and provided guidance on best practices in sampling in a Uniform Guidance audit. This course is designed for auditors who are new to the Single Audit environment or who want a refresher on sampling rules in the governmental auditing world. We’ll look at sampling for compliance from both an internal controls perspective as well as a substantive testing perspective to create efficiency in an audit.

Learning Objectives:

Attendees will be able to:

  • Describe the differences in sampling internal controls overs compliance versus internal controls over financial reporting
  • Distinguish between sampling internal controls over compliance and sampling for substantive tests of compliance
  • Recall how to determine the correct sample size for an Single Audit

This course can be delivered in 4 or 2 hour sessions.

Not for Profit A&A Update

Not-For-Profit entities are challenged with many unique accounting issues. This course features a deep dive into  ASU 2018-08 and its impact on revenue recognition for grants and other contracts including the application for various CARES Act funding. We’ll also review other ASUs directly or indirectly impacting nonprofit entities including contributed nonfinancial assets.  As we turn from accounting to auditing, we will look at recent changes in auditing and attestation standards that will impact NFPs, and the latest developments in OMB and Yellow Book requirements.

Learning Objectives:

Attendees will be able to:

  • Analyze a transaction to determine if it is a contribution or exchange transaction
  • Define the term collection
  • Describe the alternative to goodwill impairment testing for nonprofits
  • List changes Government Auditing Standards as a result of the 2018 Revision
  • Identify changes in the new Compliance Supplement for Single Audits
  • Recall impact of CARES Act funding on financial reporting and auditing

This 8-hour course can also be scaled down to 4 hours.

Not For Profit Accounting Update

Nonprofits must adopt a mix of nonprofit specific as well as more general accounting standards. This course includes a deep dive into Revenue Recognition for Grants & Contracts and its interplay with Topic 606. We’ll also review the accounting for various CARES Act funding. This executive overview will provide you with an understanding of what you need to consider in order to implement standards impacting nonprofit entities including the definition of collection, goodwill amortization and accounting for contributed nonfinancial assets (GIKs) for nonprofits. This course can also cover other FASB Accounting Standard Updates (ASUs) that will impact NFPs including leases.

Learning Objectives:

Attendees will be able to:

  • Determine if a transaction is a contribution or exchange transaction
  • Define the term collection
  • Describe lease accounting under Topic 842

This course can be delivered in 4 or 2 hours.​

Introduction to Yellow Book

This course is designed for government auditors new to performing engagements in accordance with Generally Accepted Government Auditing Standards (GAGAS or “Yellow Book”). We will identify and review the guidance found in the Yellow Book and analyze the relationship between Government Auditing Standards and the AICPA Code of Professional Conduct. We will review the Yellow Book requirements for financial statement audits while also touching upon ethical principles and independence. In longer courses, we will also review the requirements for attestation engagements, and performance audits.

Learning Objectives:

Attendees will be able to:

  • List the elements of a Yellow Book finding
  • Describe the ethics and independence requirement of Yellow Book
  • Contrast the requirements of Yellow Book with the AICPA requirements

This introductory level course is 2 hours but can be expanded to up to 4 hours. It is often paired with other governmental auditing or accounting topics.

Introduction to Not for Profit Accounting

This session will introduce attendees to the financial statements and unique accounting principles applicable to not-for-profit organizations. Specifically, this session will focus on the typical transactions and account balances unique to NFPs, including net assets, agency transactions, contributions, endowments, and programmatic investments. We will cover accounting rules such as classifying contributions and recording restrictions, allocation of expenses to programs, and properly identifying conditions. We will review not-for-profit financial statements and their required elements.

Learning Objectives:

Attendees will be able to:

  • Recall differences between commercial accounting requirements and nonprofit standards
  • Identify unique elements of nonprofit GAAP

This course can be delivered in 4 or 2 hours.

Introduction to Governmental Accounting

Governmental accounting is very unique. In this course, we will introduce the financial reporting basics for governments, including fund accounting and modified accrual accounting. We’ll discuss budgetary accounting and the use of encumbrances. We will review the rules on exchange and nonexchange transactions. We’ll also analyze the layouts of the fund financial statements as well as the government wide financial statements. The class will also cover the concept of component units. Finally, we close with a discussion on the concepts of Management Discussion & Analysis (MD&A) and other RSI that are specific to governmental entities.

Learning Objectives:

Attendees will be able to:

  • Identify the reporting requirements unique to governmental entities
  • Describe differences between commercial GAAP and governmental GAAP

This course can be delivered in 4 or 2 hours.

Introduction to Single Audits

Single Audits have unique performance and reporting requirements. This course will provide an overview of the requirements in performing a Single Audit subject to the Uniform Guidance. We’ll also cover the unique reporting requirements. Participants will have a basic understanding of internal controls over compliance, compliance requirements, how to use the Compliance Supplement and the elements of a finding in a Single Audit.

Learning Objectives:

Attendees will be able to:

  • Identify the reports required by the Uniform guidance
  • Recall the unique performance requirements in a Single Audit

This course can be delivered in 4 or 2 hours.

Accounting

Accounting & Auditing Update

This course will look at the recent activities of FASB. We’ll cover standards effective in the current year as well as those that will be effective in the future. We’ll then switch gears and discuss standards issued by the Auditing Standards Board and the Accounting & Review Services Committees of the AICPA. We’ll look at the impact of the new standards and how you can prepare to implement them in a practical way. 

Key focus areas include:

  • Recently issued Accounting Standard Updates (ASUs)
  • Leases
  • Financial instruments
  • The new auditors report (SAS 134)
  • Employee Benefit Plan Audits (SAS 136)
  • Materiality

Learning Objectives:

Attendees will be able to:

  • Describe recently issued changes to US GAAP
  • Define a lease under Topic 842
  • Prepare an audit report compliant with SAS 134 and 136
  • Define materiality under US GAAP and US GAAS

This 8-hour course can be adapted for 4 hours by removing case study or focusing on specific points of interest.

Hot Topics in A&A

2020 was a year of change and disruption. At times it felt a bit overwhelming. Let’s start 2021 off with a fast-paced update on where we currently stand and what’s happening right now in accounting & audit. We will cover key topics that require your attention, current pain points for the industry, and where we’re heading next for all things A&A. No deep dives here… just a heads up on what’s out there so you can be in the know.

While COVID19 slowed the pace of standard-setting for a while, there are still quite a few things CPAs can be focused on this year to be ready. This course will hit on the hot topics of 2021. We’ll start with a review of the audit standards effective in 2021. We’ll then look at the hot area of risk assessment from the perspective of common audit deficiencies as well as what is coming down the pike! It wouldn’t be a hot topic without a review of leases which while postponed will take some time to implement so getting an early start is crucial. It wouldn’t be 2021 if we didn’t address COVID19 and best practices in accounting and auditing in a COVID world. We’ll close with a review of the ASUs effective for calendar year ends so you can be ready to close your books for 2021!

Learning Objectives:

Attendees will be able to:

  • Identify the key financial reporting changes of the leases standards
  • List standards that will be effective for 2020 calendar year ends
  • Recognize audit standards that will be effective in the near future
  • Perform a risk assessment compliant with the standards
  • Define a lease under Topic 842
  • Recognize impact of COVID on accounting & auditing

This 8-hour course can be adapted for 4 hours by focusing on specific points of interest.

ASUs Effective for December 2021

This course will take review all the Accounting Standards Updates (ASUs) issued by the FASB that will be effective for December 2021 calendar year ends (and beyond). The course will address which entities are impacted as well as the main provisions of each standard, including key changes to recognition and measurement. We’ll also discuss any implementation issues you may need to consider during implementation.

Learning Objectives:

Attendees will be able to:

  • Identify Accounting Standard Updates that are effective for calendar 2021 year ends
  • Describe the impact of effective standards on financial reporting

This course can be delivered in 1 or 2 hour sessions and can be combined with other technical or business sessions.

What's Going on at the FASB

This course will cover the Accounting Standard Updates (ASUs) issued by the FASB that are effective for 2021 year ends. The course will also address those standards that will be effective in the near future that are well suited for early implementation. We’ll take a deep dive into how to prepare for the leases and financial instruments standards in longer courses. The course can be tailored to address only those standards impacting the organization through a detailed needs assessment as part of the GLS Process.

Learning Objectives:

Participants will be able to:

  • Recall new accounting ASUs issued by the FASB
  • Identify ASUs effective in the current year
  • Describe the key financial reporting changes of the leases and financial instruments standards

This course can be delivered in 8, 4 or 2 hours. Shorter courses will require tailoring to fit time constraints. 

Accounting for Leases (Topic 842)

This course offers an in-depth look at the new leases standard, which requires organizations to recognize lease assets and liabilities on the balance sheet. This comprehensive course will cover recognition, measurement, as well as presentation and disclosure requirements as well as focus on a key area of change which is proper identification of a lease using a principles-based approach. We will discuss implementation requirements from both the lessee and lessor accounting models. In addition, we explore a variety of scenarios including short-term leases, purchase options, variable lease payments, and remeasurement. As usual, this GLS course is up-to-date, offering practical journal entry examples, lessons learned from implementation, and explores recently issued amendments to the lease accounting guidance.

Learning Objectives:

Attendees will be able to:

  • Define a lease under the new leases standard
  • Apply recognition and measurement requirements of the new leases standard.
  • Describe the presentation and disclosure requirements of the new leases standard.
  • Prepare journal entries necessary to account for leases as both a lessee and lessor.

This 4 hour course can be adapted for 2 hour delivery and is often combined with Revenue Recognition and/or Financial Instruments.

ASUs Issued in 2020

While COVID19 slowed the pace of standard setting in 2020, the FASB still addressed several important financial reporting issues! This course will cover all of the ASUs issued by the FASB during 2020. We’ll discuss who will be impacted and what the main provisions of each standard are. The course is designed to provide an executive summary of each standard so that CPAs can determine which ASUs will impact them in the future. This is a great course for CPAs wanted to know what the FASB has been up to!

Learning Objectives:

Attendees will be able to:

  • Identify standards issued in 2020
  • Describe the impact of standards on financial reporting

This course can be delivered in 1 or 2 hour sessions and can be combined with other technical or business sessions.

Financial Instruments

This course will cover ASU 2016-01, ASU 2016-13 and ASU 2017-12 and related amendments. ASU 2016-01 makes targeted changes to the recognition and measurement of financial instruments. It adds a new OCI item will changing the subsequent measurement for equity securities. We’ll then change our focus and look at the new credit loss standard issued by the FASB. The Current Expected Credit Loss model, introduced in ASU 2016-13, will impact any financial assets that are recognized using a held to maturity or amortized cost basis. Major changes to the inputs in models will require all entities to take a closer look at how they measure their financial assets including some as basic as their accounts receivable! Finally, we’ll address some of the simplifications offered under the new hedge accounting standards in ASU 2017-12. We’ll also address the amendments issued by FASB as part of the implementation phase.

Learning Objectives:

Attendees will be able to:

  • Describe how the CECL model will impact the recognition of credit loss in the income statement
  • Identify changes to hedge accounting
  • List the impact of ASU 2016-01 on the income statement

This 4 hour course can be adapted for 2 hour delivery and is often combined with Leases and/or Revenue Recognition.

A&A Update for Small Businesses

In this course, we will look at the recent activities of the FASB, the Auditing Standards Board (ASB), and Accounting & Review Services Committee (ARSC) that impact small businesses. We will discuss the impact of the new standards and how you can prepare to implement them in a practical way. The course also includes a deep dive into private company reporting with a look at the Private Company Council as well as the AICPA Financial Reporting Framework for Small & Medium Entities (FRF-SME). In addition, we include the major convergence projects and the impact they will have on the reporting and disclosures for small businesses. This course is tailored to focus on topics primarily impacting smaller entities. It does not cover some of the more complex accounting requirements not commonly found in smaller entities.

​Key Topics Covered Include:

  • Private Company Reporting
  • Leases & Financial Instruments
  • SAS, SSAE and SSARS Update

Learning Objectives:

Attendees will be able to:

  • Recall accounting standards impacting small business financial reporting
  • Describe how audit standards will impact the audits of small businesses
  • Identify reporting options for small businesses

This course can be delivered in 8 or 4 hours.

Private Company Reporting

The number of options private companies have for financial reporting continues to grow. Private companies can now amortize goodwill and FASB offers simplified hedge accounting for plain vanilla swaps This course will cover the background and evolution of the Private Company Council (PCC) including standards approved by the FASB to allow private companies alternatives within GAAP. This course will also overview the AICPA’s FRF for SMEs as a non-GAAP alternative for private companies. This will help private companies make an informed decision about which financial reporting framework makes the most sense for them.

Learning Objectives:

​Attendees will be able to:

  • Recall the options available for private company financial reporting
  • Describe the ASUs issued by the Private Company Council (PCC)

This course can be delivered in  4 or 2 hour sessions.

Auditing

Audit & Attestation Update

The AICPA has been busy lately! This course will cover recently issued SASes, SSARS, and SSAEs. We’ll look at recently issued audit standards as well as major proposals. The AICPA delayed the effective date of the auditor reporting suite to December 2021. The course will also review the changes to auditing estimates and audit evidence. In longer courses attendees will also discuss the proposed changes to risk assessment and quality standards. The ASB also made significant changes to all three attestation engagements – examinations, reviews and AUPs. We’ll review the impact of the latest round of updates. The course will also review recent PEEC interpretations that will include major changes to the Code of Professional Conduct.  Finally, we’ll close with a look at the AICPA’s Enhancing Audit Quality (EAQ) Initiative and how some of the lessons learned can be applied to improve the quality of audits.

Learning Objectives:

Attendees will be able to

  • Describe changes to the auditor’s report
  • Recall the impact of SAS 136 on employee benefit plan audits
  • List recently issued auditing and attestation standards
  • Describe ethics changes impacting audits of private companies
  • Identify common audit deficiencies

This course can be delivered in 3, 4 or 2 hours.

Assessing Control Risk under AU-C 315

The AICPA has identified that one in ten audit firms are not compliant with the risk assessment standards. One of the major issues identified by peer reviewers is failure to properly document controls under AU-C 315. This course will cover how to properly document the auditor’s assessment of internal controls including walk-throughs. We will discuss the difference between identifying controls, assessing whether controls have been implemented and testing operating effectiveness. In longer courses, the course will also address the recent proposed changes to the standards.

Learning Objective:

Attendees will be able to:

  • Identify common internal controls found in smaller entities
  • Perform internal control documentation compliant with the audit standards

This course is delivered in a 2 or 4 hour format. It can be easily combined with risk assessment, documentation or other areas that are commonly found to be audit deficiencies in Peer Review. 

Addressing Common Documentation Deficiencies

The Enhancing Audit Quality Initiative has identified inadequate or nonexistent audit documentation as one of the biggest issues facing the profession. Over half of the engagements reviewed by the AICPA did not meet the requirements of AU-C 230. This course will look at common misconceptions related to audit documentation.

Learning Objectives:

Attendees will be able to:

  • Describe the minimum documentation requirements from AU-C 230
  • Recall common work paper deficiencies identified by the AICPA

This course is delivered in a 2 or 4 hour format. Longer formats include reviewing documentation examples from the firm. It can be easily combined with risk assessment, internal control assessment or other areas that are commonly found to be audit deficiencies in Peer Review. 

Consideration of Fraud

AU-C 240,Consideration of Fraud in a Financial Statement Audit, (formerly SAS 99) provides auditors with guidance on the consideration of fraud when a financial statement audit is conducted and is effective for audits of financial statements. This course will help you understand the auditor’s responsibilities for detecting fraud and cover audit procedures for responding to the fraud risk analysis.

Learning Objectives:

Attendees will be able to:

  • Describe audit procedures required to respond to fraud risk
  • Define fraud

This course can be delivered in 1 or 2 hour formats.

Identifying Value‐add Services During an Audit

CPAs providing audit services can provide superior client service by identifying value-added services that can help clients achieve their goals. As new pronouncements are issued impacting clients, CPAs can provide implementation services to assist clients in adopting standards while ensuring they maintain their independence. In this course, we review how nonattest services impact independence. We will also ensure attendees understand what is and is not within the scope of an audit and what steps they can take to identify and prevent scope creep, while identifying value‐added upsell opportunities. This interactive webinar will help attendees think differently about compliance versus value.

Learning Objectives:

Attendees will be able to:

  • Identify and sell consulting opportunities
  • Describe how non‐audit services impact independence

This course is typically delivered a 2 hour format.

Accounting & Auditing in a COVID World

This course will look at the impact of COVID-19 on both accounting and auditing. We’ll look at how COVID is impacting how audits are performed. We discuss how to adapt to a remote audit and how professional skepticism needs to be enhanced in a virtual audit. We also discuss the impact on internal controls and a control reliance strategy. We will also address the impact of COVID on accounting standards including the delays issued by many standard setters. This course will give CPAs an overall review of what to consider in our new normal!

Learning Objectives:

Attendees will be able to:

  • Identify standards that were impacted by COVID19
  • Recognize accounting for CARES Act and PPP funds
  • Identify changes to audits due to COVID
  • Describe how audits will change in a remote audit environment

This 1 to 2-credit course can be adjusted to fit within the time constraints of a multi-track seminar or conference format.

Risk Assessment for Private Entities

The AICPA has identified that one in ten audit firms are not compliant with the risk assessment standards. This course will discuss how to properly identify risks and assess risk under AU-C 315. We’ll then discuss how to respond to identify risks under AU-C 330. The course will focus on the audit risk model and focus on both inherent risk and internal controls. We’ll discuss common deficiencies and how risk assessment can be used to perform a more efficient and effective audit. In longer courses, the course will also address the proposed changes to risk assessment.

Learning Objectives:

Attendees will be able to:

  • Recite the audit risk model
  • Perform risk assessment procedures compliant with the audit standards

This course is delivered in a 2 or 4 hour format. It can be easily combined with internal controls, documentation or other areas that are commonly found to be audit deficiencies in Peer Review. 

Common Auditing Deficiencies

This course will review common deficiencies identified by the AICPA as well as state boards. For each deficiency, we will identify the examples of the deficiencies that have been found and then cover how to properly handle the situation. We will cover a variety of topics including the use of specialists, group audits, auditing an estimate, and risk assessment. This will be an interactive session.

This course can be delivered in 8, 4 or 2 hour formats.

Understanding & Auditing Alternative Investments

As the number of entities that use alternative investments increase, the requirements for accounting and disclosures has become more complex. We’ll look at some of the ways FASB has addressed this area including recent simplification initiatives. In addition, auditing an alternative can have its challenges. We’ll walk through the audit interpretations that will impact auditing these complex assets.

Learning Objectives:

Attendees will be able to:

  • Identify alternative investments
  • Describe audit procedures that are responsive to the risks commonly associated with these investments 

This 2-hour course is valuable for those supporting both private entities or not-for-profits.

Independence

CPAs in public practice are often required to be independent. We’ll discuss the concepts of Independence, review the rules from the Code of Conduct and then discuss the practical application. We’ll include case studies to understand how to properly apply the threats and safeguards approach found in the Code of Professional Conduct. We’ll also review recently issued ethics interpretations from the Professional Ethics Executive Committee that impact independence and discuss practical methods of implementation.

Learning Objectives:

Attendees will be able to:

  • Identify threats to independence
  • List changes to the independence rules

This course can be delivered in 4 or 2 hours.

Audit Quality Workshop

This interactive workshop-style course will include discussion of causes of quality issues, ways to combat the issues identified and then a review of the AICPA’s Enhancing Audit Quality Initiative. We’ll use case studies and discussions to perform root cause analysis and then identify ways to improve audit quality. We’ll review the Six-Point Plan and compare how the AICPA’s plan to enhance audit quality compares to the ideas generated by the group. Be prepared for group work and lots of participation.

Learning Objectives:

Attendees will be able to:

  • Identify common audit deficiencies identified by the AICPA
  • Describe the root causes of audit deficiencies

This course can be delivered in 4 or 2 hours formats.

COSO Internal Control Integrated Framework (2013)

This course is designed to provide an overview of the updated 2013 COSO Internal Control – Integrated Framework. We will review a history of COSO and its evolution until today. We’ll cover what changed from the 1992 Framework as well as what stayed the same. The updated Framework formalizes 17 principles which must be present and functioning in order to demonstrate effective internal controls. We’ll discuss each of these principles and related points of focus in detail including practical waits to implement.

Learning Objectives:

Attendees will be able to:

  • Describe how the 5 components of COSO and 17 principles work together.
  • Identify the Points of Focus associated with each principle
  • Recall the framework’s definition of deficiencies and major deficiencies
  • Recognize what defines “effective” internal control.

This course can be delivered in 1 or 2 hour sessions and is often combined with other audit or internal control topics.

Audit Sampling Best Practices

Learn how to determine appropriate sample sizes, select and evaluate those samples for performing audit procedures. This course will cover proper sampling techniques for both testing of internal controls over financial reporting as well as substantive testing. We’ll also cover Monetary Unit Sampling as a method of statistical sampling. We’ll also discuss how to automate sampling to improve audit effectiveness and efficiency. 

Learning Objectives

Attendees will be able to:

    • Describe attribute sampling for tests of controls
    • Perform Monetary Unit Sampling
    • Define a sample per AU-C 530

This course can be delivered in 4, 2 or 1 hour formats.

Control Self Assessments

This course takes a closer look at enterprise risk management and provides an overview of how entities can perform an effective risk assessment and mitigate risks through a control self-assessment (CSA) process. We’ll review the steps for control self-assessments and how small to medium entities can leverage CSAs to improve their internal controls.

Learning Objectives:

Attendees will be able to:

  • Perform a control self-assessment
  • Identify alternatives for responding to risks

This course can be delivered in 1 or 2 hour formats and can be combined with other audit or technical topics.

Professional Essentials & Ethics

Ethics & the Code of Professional Conduct

The Code of Professional Conduct is the framework used by CPAs to perform their professional responsibilities. The code was updated and reorganized in 2014. This course will discuss the changes to the Code as well as the new conceptual framework approach. We’ll also look at certain sections of the code, including independence, that are critical to CPAs success. We’ll use skits, cases and other learning techniques to make this course interactive and relevant. We’ll also discuss recent interpretations issued by the Professional Ethics Executive Committee that will update the Code.

Learning Objectives:

Attendees will be able to:

  • Identify threats to independence
  • Identify safeguards to mitigate threats
  • Describe recent changes to the Code

This course is typically delivered in a 2 hour format. 

Project Management

This course will cover the fundamentals of project management, including methods of defining success and monitoring progress. We will walk through the 5 Process Groups of the PMBOK® Guide and other Project Management Institute global standards to identify best practices in project management. This course will include interactive group discussions and application. This can be applied to those in industry or those in public practice.

Learning Objectives:

Attendees will be able to:

  • Identify the fundamentals of project management
  • Recognize and apply the 5 Process Groups to identify best practices in project management
  • Recognize the elements of a project

This course is typically delivered in a 2 hour format.

Emotional Intelligence & Leadership

CPAs and accountants are so much more than number crunchers! Whether you work in public accounting, industry, or education, the ability to self-regulate (internal) and build meaningful relationships (external) is incredibly important.

Current research shows that Emotional Intelligence (EQ) is the critical factor, more important than intelligence (IQ), that sets star performers apart from the rest of the pack. The good news is unlike IQ, EQ can be improved through effort and practice! In addition to covering various EQ theories, this course features an interactive small group component, where participants will identify personal areas of focus and design activities that can help them to further develop the skills needed to lead with empathy and self-awareness.

Learning Objectives:

Attendees will be able to:

  • Describe Emotional Intelligence (EQ)
  • Identify and apply various EQ theories
  • List different types of leaders
  • Recognize the four domains of emotional intelligence

​This course is 2 hours and can be combined with other technical or business skills courses.

Managing Change in an Ever Changing Profession

Change is all around us. Those who can effectively manage change will be the future leaders of the profession. The pace of change continues to sky rocket. As organizations and the CPA profession continue to evolve, CPAs will need to have the ability to be resilient and thrive in an ever changing world. This course will look at practical ways CPAs can not only accept change but manage change in an effective and efficient manner.

Learning Objectives:

Attendees will be able to:

  • Identify skills need in the change management process
  • Describe change models

This 2-hour course can be adjusted to fit within the time constraints of a multi-track seminar or conference format.

2021 Ethics Update

This ethics course will cover recent regulatory ethics changes including an overview of the Code of Professional Conduct and the Conceptual Framework. We’ll cover exposure drafts and final interpretations issued by the Professional Ethics Executive Committee of the AICPA. Then we will switch gears to analyze case studies and consider ethical conduct, which will have attendees considering common scenarios faced by those in industry or public accounting. Come prepared to participate in group discussions!

Learning Objectives:

Attendees will be able to:

  • Apply the AICPA Code of Professional Conduct.
  • Analyze situations to determine ethical conduct.

This course is typically delivered in 2 hours.

Best Practices in Public Speaking

Glossophobia is the fear of public speaking and it negatively impacts millions of people in the business community. Despite the fact that public speaking induces discomfort (or in some cases even terror), it is a vital skill for accountants and business professionals who must be able to get up in front of a crowd to present an idea, influence a decision, or close a deal.

This course will cover some best practices when it comes to public speaking. We will look at techniques to organize our ideas, convey powerful messages, and overcome our fears. Participants will have an opportunity to practice what they learned in a safe environment. The really brave will share their mini presentation with the entire group.

Learning Objectives:

Attendees will be able to:

  • Describe techniques to overcome fears related to public speaking
  • Recall the percentage of a message that comes from words
  • Identify best practices in public speaking

 

 

This 2-hour course can be expanded with additional breakout and group presentation time.

Providing Effective Feedback

New managers and experienced leaders alike often struggling with providing the effective feedback their teams need to be exceptional.  This course will look at the benefits of providing feedback (both positive and negative). We’ll explore the key attributes of what makes feedback effective and various feedback models that can be used to develop and provide the feedback.  We’ll close with an opportunity to try out what you learned. This interactive session can help make providing feedback a positive experience for both the provider and receiver.

Learning Objectives:

Attendees will be able to:

  • Describe the elements of feedback
  • Identify attributes of good feedback
  • Recall feedback models that can be used to improve feedback

 

This course is 1-2 hours and can be combined with other technical or business skills topics.

Confidence, Mindset, & Grit - Bringing It Together For Success

We’ll look at the skills women need in the CPA profession to get ahead. Years of studies have concluded that confidence manifests itself differently in women than in men. A lack of confidence or in some cases a perceived lack of confidence, impacts women’s ability to rise to the top. We’ll look at how small changes can help women change how our brain thinks to feel more confident and act with more decisiveness.

Studies also show that people with a growth mindset are more likely to flourish in the face of challenge and change. The good news is we can move from a fixed mindset to a growth mindset with just a little effort. We’ll look at the research and how ladies can change their mindset to accomplish more.

We’ll close with a look at the impact of passion and perseverance and how this mix can enable women to achieve any goal they set. Jam packed with lessons learned from cutting edge research we’ll leave female CPAs with the tools they need to not only get ahead, but to do it their own way!

Learning Objectives:

Attendees will be able to:

  • Contrast growth mindsets with fixed mindsets
  • Define grit and how it applies
  • List actions that can rewire the brain to feel more confident

This 2-hour course can be adjusted to fit within the time constraints of a multi-track seminar / conference format.

Self-Care and Mindfulness: Core Leadership Competencies

Stress is not new to the CPA profession. However, COVID and other environmental factors have furthered the impact that stress is having on our lives. This course will look at the impact of stress and ways CPAs can leverage best practices in meditation and self-care to reduce stress and reach optimum levels of personal health. Attendees will leave with an action plan to implement self-care in their day to day activities. Like they say on airplanes, it is important to first put our own oxygen mask on before helping others. We’ll learn to apply these techniques to create a healthy culture with leaders who truly lead by example and encourage others to take care of themselves so they can be their best selves in the office.

Learning Objectives:

Attendees will be able to:

  • Recognize the physical and mental impact of stress
  • Describe how meditation and self-care can be used as tools to improve wellbeing
  • Create a personal action plan to implement self-care

This 1.5 to 2-credit course can be adjusted to fit within the time constraints of a multi-track seminar or conference format.

Train the Trainer

Invest in your internal training capabilities with Train the Trainer with Galasso Learning Solutions.  Instructional design, creating a learning conducive environment, and driving engagement with learner-centered training methods are just a few topics to be covered.  Adult learning theory differs from the type of instruction we all received in school. We’ll focus on best practices in delivering learning and increasing interactivity. In addition, we will identify the strengths of delivering face-to-face training vs. online learning and discuss best practices that apply to each environment.  This course is interactive and combines group learning, individual practice, and one-on-one feedback.  Video recording can be incorporated to enhance performance feedback depending on client needs and preferences.

    • Topics will include:
      • Adult Learning Theory
        • Characteristics of learning
        • Multiple intelligences
      • Training Delivery
        • Facilitation vs Training, Story Telling
        • Gagne’s 9 Events
        • Preparing for Delivery
      • Instructional Design
        • ADDIE
        • SAM
        • Blooms Taxonomy (Learning Objectives)
        • Needs Assessment Basics

Learning Objectives:

Attendees will be able to:

  • Identify differences between adult learning theory and training children
  • Describe how to use the ADDIE model when creating CPE courses
  • List Gagne’s 9 events
  • Perform a needs assessment to improve learning impact

This course is 8 to 16 hours in length. Components of the course can be covered via a 4-hr webinar.

Innovation & Change: The Future of the CPA Profession

This course will take a look at the future of the profession. Words like innovation and disruption are all around us. We’ll look at trends impacting the profession as well as the AICPA’s response to insure a profession that is ready for what the future holds. We’ll focus on new engagements the AICPA is considering and the skills CPAs will need to be successful!

Learning Objectives:

Attendees will be able to:

  • List new engagement types proposed by the AICPA
  • Describe skills that will be needed by CPAs to be future ready

This course is typically delivered in 1-2 hours.

Developing a Coaching Culture

This course will discuss how companies and firms can focus on using the concepts of coaching to improve engagement. In lieu of focusing on the establishment of formal coaching programs, this course will help your organization to incorporate the best practices in coaching (proactive listening, powerful questions, building trust, and holding space) into their day-to-day culture to create a powerful coaching environment where your team members will thrive.

Learning Objectives:

Attendees will be able to:

  • List the benefits of a coaching culture
  • Describe the key tenets of coaching

This 1 to 2-hour course is most powerful when combined with other leadership or technical topics.

Conflict Management - Learning to Embrace Conflict

This course addresses the benefits of conflict. It explores the causes of conflict, types of conflict, and best practices in managing conflict productively. We’ll then use the Thomas-Kilmann Conflict Mode Instrument to discuss the five modes of conflict handling and situations when each mode works best.

A nominal per person fee can be added to this course to include a self-assessment that is helpful in understanding individual preferences and the dynamics of the group.

Learning Objectives:

Attendees will be able to:

  • Identify​ their communication style
  • List causes of conflict
  • Describe the benefits of conflict
  • Recall methods of diffusing conflict

​This course is 2 hours and can be combined with other technical or business skills courses.

1 & 2 Day Level Training

Staff Training - Introduction to Audit Cycles

This 8 hour training provides an overview of audit cycles from client acceptance and planning to field work and reporting. We will walk through how each piece of the cycle interacts with others. This is a great overview for new auditors or those who are not familiar with the inner workings of an audit. We’ll review common audit deficiencies. This course can be used as an introduction to an audit and then be followed by instruction on testing audit areas.

Learning Objectives:

Attendees will be able to:

  • Identify the various cycles in an audit
  • Describe common audit deficiencies

This course is delivered in 8 hours or as Day 1 of a two day staff training.

Manager Training

New managers not only have to be technically skilled, but they also have to manage people. This manager training is designed to focus on high risk areas of audit to insure proper procedures. However, the primary focus is on leadership and management for new managers. During a needs assessment, the firm will select which technical areas and which business skills areas they would like to focus on.

Learning Objectives:

Attendees will be able to:

  • Perform high risk procedures compliant with GAAS
  • Demonstrate leadership skills

This course is offered in one and two day options. Customization is based on your firm’s unique training needs assessment. LOs will adjust based on topics selected.

Staff Training

This course is designed to provide real world experience in auditing sections of the balance sheet. Typical audit areas introduced include auditing cash, accounts payable and accounts receivable. We also introduce sampling and risk assessment at a high level to insure a risk based audit is performed. The course can be modified to address other audit areas as determined by the firm. The course will be customized to the firm’s audit methodology to allow for real world application of auditing technique.

Learning Objectives:

Attendees will be able to:

  • Perform audit procedures related to cash, AP and AR
  • Identify the three steps for risk assessment
  • Properly select a sample compliant with AU-C 530

This course can be delivered 8 hours or as Day 2 of a 2 day staff training.  Customization is available based on your firm’s unique training needs assessment.

Senior Training

New seniors continue to be primarily focused on completing audit procedures. However, they are also introduced to the idea of being in charge of less experienced staff. Therefore, this course primarily focuses on technical skills but also incorporates an introduction to the business skills needed to manage staff. During a needs assessment, the firm will select which technical areas and which business skills they would like to focus on. The course will be customized to the firm’s audit methodology to allow for real world application of auditing technique.

Learning Objectives:

Attendees will be able to:

  • Properly perform audit procedures in compliance with GAAS
  • Describe what makes a good leader / manager

This course is offered in one and two day options. Customization is based on your firm’s unique training needs assessment.

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