DAY 1 - Governmental Accounting & Internal Controls Update

Day 1 will kick off with a review of recently issued GASB standards starting with those effective in 2024 working our way through to those effective in the near future. Key topics will include Compensated Absences, Accounting Changes and Risk & Uncertainty Disclosures. We'll work through a variety of case studies for application purposes. We'll then move to our AICPA Regulatory Ethics Update where we will review the recently issued interpretations issued by the AICPA's Professional Ethics Executive Committee (PEEC). After lunch we'll transition to internal controls with a review of COSO and best practices in internal control over financial reporting. We'll close with a look at how to use the compliance supplement with a focus on internal control over compliance.

Objectives

• Recall the impact of recently issued GASB standards on financial reporting
• Describe recently issued ethics interpretations
• Identify the five components of COSO
• Recall best practices in using the Compliance Supplement

Credits

Leaders

• Melisa F. Galasso

  Melisa F. Galasso, CPA, 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 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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