2025 Annual Update for Governmental Accountants & Auditors

Overview

This comprehensive course provides the critical updates governmental accountants and auditors need to stay informed. We'll begin with a review of recent GASB standards, including compensated absences, asset disclosures, risk and uncertainty disclosures, and financial reporting model improvements. Participants will also gain insights into GASB's current projects, exposure drafts, and agenda progress to ensure they are up to date on what's ahead. For auditors, we'll cover key changes to governmental auditing standards, including the 2024 Yellow Book updates, the transition from quality control to quality management, and implementation timelines, with early adoption options. Single Audit updates will include the 2024 Uniform Guidance changes, the 2025 Compliance Supplement, GAO reports on improper payments and government fraud, the Financial Data Transparency Act (FDTA), and recent Department of Education guidance on related parties.

Course Instructor: Melisa Galasso

Highlights

Single Audit Updates
Auditing & Accounting
Yellowbook

Prerequisites

Prior experience with Governmental Accounting and Auditing

Designed For

Accounting Professionals

Objectives

Recognize the impact of GASB 101 on accounting for compensated absences
Recall changes to the financial reporting model
Identify changes to disclosure requirements for certain assets and risks
Recognize proposed changes to governmental GAAP
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)

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.