Webcast: 2025 Annual Update for Not-for-Profit Accountants and Auditors
255 | Webcast | Update | Scheduled
Description
Stay ahead of the curve with this essential training designed for not-for-profit accountants and auditors. This course provides a comprehensive update on the latest developments impacting nonprofit financial reporting and auditing. On the accounting side, we will review the latest FASB standard-setting activities affecting NFPs, including programmatic investments and their interplay with the CECL standard. Additionally, we will explore the IFR4NPO project, a global initiative aimed at establishing universal financial reporting standards for nonprofits. Transitioning to auditing, this course covers the 2024 Yellow Book updates, the shift from quality control to quality management, and key audit matters with early adoption options. We'll also address single audit updates, GAO reports on improper payments and fraud, the Financial Data Transparency Act (FDTA), and recent Department of Education guidance on related parties.
Credits
| Number of Credits | Type of Credits |
|---|---|
| 3.00 | Auditing |
| 3.00 | Accounting |
Prerequisites
Prior experience with nonprofit accounting and auditing
Objectives
Key takeaways include:
- Understanding FASB's impact on nonprofit financial reporting
- Insights into global initiatives like IFR4NPO
- Preparation for quality management implementation by the end of 2025
- Updates on the 2024 Yellow Book and single audit requirements
- Awareness of recent governmental guidance and transparency standards
This course equips you with the knowledge to ensure compliance, enhance audit quality and support effective financial reporting for not-for-profit organizations. Don't miss this opportunity to stay informed and ready for the year ahead.
Upon completing this course, a learner will be able to:
- Identify elements of the proposed IFR4NPO standards
- Recall the impact of recent standard setting on programmatic investments
- Recognize the impact of recent ASUs on nonprofit financial reporting
- Identify the components of quality management
- 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
Prices
- Member (Early Bird)
- $229.00
- Non-Member (Early Bird)
- $349.00
- Member
- $229.00
- Non-Member
- $349.00
Instructors
Melisa F. Galasso, CPA
Melisa 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. 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.
Within the industry, Melisa serves on the FASB's Not-for-Profit Advisory Committee (NAC), AICPA Council, and the VSCPA's Board of Directors. She previously served on the AICPA's Technical Issues Committee (TIC) and is a past-Chair of the NCACPA's A&A committee. Melisa also authors the AICPA's State and Local Government Guide and serves as a SME for the Center for Plain English Accounting.
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