2025 Accounting & Auditing Update

Overview

Stay informed and prepared with this comprehensive annual update on the latest developments in accounting and auditing. We'll begin with a deep dive into the Accounting Standards Updates (ASUs) effective in 2025, followed by insights from the FAF's 2024 PCC Review and an overview of FASB's Invitation to Comment - Agenda Consultation, which will shape the future of accounting standards. On the auditing side, we'll tackle the essential changes in quality management standards that firms must implement by the end of 2025. The session will also highlight common deficiencies identified by the DOL in EBP (Employee Benefit Plan) engagements and provide a peek at upcoming projects from the Auditing Standards Board (ASB). Join us to gain practical insights and actionable takeaways to navigate these updates with confidence.

Highlights

• Accounting Standards Updates
• Auditing & Accounting
• Yellowbook

Prerequisites

Prior experience with GAAP & GAAS

Designed For

Accounting Professionals

Objectives

• Recognize the impact of Accounting Standards Updates effective in 2025 on financial reporting
• Recall the changes made to PCC processes as a result of the 2024 PCC Review
• Identify potential topics identified by advisory groups in the FASB's ITC agenda consultation
• Identify the components of quality management
• Recall deficiencies identified by the DOL for EBP audits
• Recall key projects of the Auditing Standards Board

Preparation

None

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by ACPEN. Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.