ACPEN: 2026/27 Not-for-Profit Accounting & Auditing Update

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Instructor

Melisa
Galasso

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Melisa Galasso

Bio

Melisa F. Galasso is the founder and CEO of Galasso Learning Solutions LLC. A CPA with over 15 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.

Her passion is providing high-quality CPE that is meaningful, creates efficiencies and improves quality, and positively impacts ROI. She also supports essential professional development, audit level training, and train the trainer efforts.

Melisa earned the Association for Talent Development Master Trainer™ designation and is in the process of completing the rigorous requirements to become a Certified Professional in Learning & Performance (CPLP).

Melisa’s passion for instructional design is one of the differentiators that sets her apart from other CPE providers. She serves on the AICPA’s Technical Issues Committee, has had leadership roles on various A&A committees, and serves on the VSCPA’s Board of Directors.

She was honored as “40 under 40” — by CPA Practice Advisor — in 2017 and 2018, was named the 2019 Rising Star by her regional NAWBO chapter, received the Don Farmer award for achievement in technical content instruction, and earned several other awards for public speaking and technical training.

Prior to establishing Galasso Learning Solutions, Melisa worked in public accounting, industry, internal audit, and academia.
She received a Bachelor of Science in Business Administration with a concentration in Accounting and International Business from Georgetown University.

This comprehensive annual update brings together key accounting, auditing, and compliance developments affecting not-for-profit organizations. The course integrates recent standard-setting activity, audit and attestation updates, and Single Audit developments to provide a practical view of changes impacting nonprofit financial reporting and oversight. Participants will begin with an overview of accounting developments affecting not-for-profit organizations, including recently issued Accounting Standards Updates (ASUs) from the Financial Accounting Standards Board and an introduction to the International Non-Profit Accounting Standard (INPAS). Emphasis is placed on understanding the purpose and structure of INPAS and how it compares conceptually to U.S. GAAP requirements for NFPs. The course then shifts to auditing and attestation developments from the AICPA, including the next phase of quality management with a focus on monitoring and remediation responsibilities. Participants will also review recent and upcoming standards affecting audit, attestation, and consulting engagements, including updates related to SSAEs, SSARSs, exposure drafts on confirmations and fraud, and changes affecting group audits.

Learning Objectives

Recognize the impact of recently issued accounting standards on not-for-profit organizations Identify key elements and objectives of the International Non-Profit Accounting Standard (INPAS) Recall the impact of recent AICPA standards and proposals on audit and attestation engagements affecting not-for-profits Identify key quality management requirements related to monitoring and remediation Recognize changes affecting Single Audits resulting from the 2024 Uniform Guidance and related guidance Recall key regulatory and implementation updates relevant to Single Audits for not-for-profit organizations

Major Topics

Accounting Standards Updates (ASUs) affecting not-for-profit organizations Introduction to and comparison of the International Non-Profit Accounting Standard (INPAS) U.S. GAAP considerations for NFP financial reporting AICPA auditing and attestation updates Quality management: monitoring and remediation responsibilities Updates to SSAEs, SSARSs, and group audits

CPE Credits Available

1 CPE Credit

1: Accounting (Governmental)

Things to Know About This Course

Course Level

Update

Professional Area of Focus

Accounting (Governmental)

Advanced Preparation

None

Intended Audience

All accounting/auditing professionals

Provider

ACPEN

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