2025 Accounting & Auditing Update

Stay ahead of the latest accounting and auditing developments with our Spring Audit & Accounting Update. The Financial Accounting Standards Board (FASB) continues to refine financial reporting by issuing new Accounting Standards Updates (ASUs) each year. Keeping up with these changes is essential to ensure compliance with Generally Accepted Accounting Principles (GAAP).

This session will provide a comprehensive overview of ASUs effective for 2025 financial statements and beyond, including key updates on crypto assets and joint venture guidance. Additionally, we’ll explore accounting implications in the current economic environment and other emerging accounting issues. We’ll also cover hot topics related to ethics and changes to audit, review, and attestation standards. Join us to stay informed and prepared for the evolving financial reporting landscape.

Spring Accounting & Auditing Update:

Tuesday, May 20, 2025

10 a.m. - 4 p.m. CT

Topics Covered:

• Recent Accounting Standards Updates (ASUs):
  An overview of newly issued ASUs, including guidance, updates, and implementation insights on income taxes, joint venture formations, crypto assets, and disclosure requirements. We’ll also cover current FASB projects and consider the potential effects of those changes including private company council changes related to current expected credit losses (CECL).
• Common Issues in Financial Reporting:
  Review of common financial statement errors and how to address those in your financial reporting.
• Emerging Issues & Regulatory Considerations:
  Discussion of ongoing questions related to the Employee Retention Credit (ERC), as well as the evolving impact of artificial intelligence and cybersecurity on financial reporting.
• Ethics & Independence Hot Topics: (1 Hour – Regulatory Ethics CPE)
  Key updates and considerations related to professional ethics and independence rules for CPAs in both business and public practice.
• Accounting in the Current Economic Landscape:
  Analysis of recent economic trends and their impact on financial reporting and accounting practices.
• Audit, Review, & Attestation Standards:
  A summary of recent changes to audit, review, and attestation standards, highlighting key considerations for practitioners.