Webinars
2025 FASB, SSARS AND SAS UPDATE AND REVIEW
Steven C. Fustolo, CPA
CPE: 5 CPEs (3 Accounting, 2 Auditing)
Wednesday, January 14, 2026
Check-in Begins: January 14, 2026 12:10 PM Eastern Time (US and Canada)
Official Start Time: 12:30pm-4:40pm
The objective of this course is to address key changes affecting accounting, compilation and review, and auditing engagements, as well as a review of selected other developments. The focus is on standards that affect years 2025, 2026 and beyond.
Topics Include:
- Review the newly issued SSARS No. 27 addressing preparation of financial statements in consulting services engagements, including part-time controllership services.- NEW
- Address the new quality management (QM) standards and risk assessment requirement due by 12-15-25- BIG ISSUE
- Discuss the new ASU 2016-13 and ASU 2025-05 related to the computation of the trade receivable allowance account and new disclosures, including new rules on using subsequent collections to measure the allowance account. BIG PEER REVIEW ISSUE
- Discuss GAAP for the 2025 Tax Act (OBBB Act)- NEW- HOT TOPIC
- Review ASU 2023-08 (crypto assets), ASU 2023-09 (income tax disclosures), ASU 2023-05 (joint ventures), and ASU 2024-03 and 2025-01 (expense disaggregation disclosure). NEW CHANGES
- Discuss post-implementation issues for the lease standard including options to avoid the lease standard-BIG PEER REVIEW ISSUE
- Review the special election available for short-term, common-control
leases under ASU 2023-01- Leases- Common Control Arrangements. - Briefly discuss new auditing standards found in SAS No. 146-149.
- Review the most recent Report to the Nation on Occupational Fraud.
- Discuss SSARS No. 26 for compilation, review and preparation engagements.
- Review selected practice issues in compilation and review engagements.
- Review GAAP for the Pass-Through Entity (PTE) Tax election.
- Review GAAP issues related to inflation and interest rates, including bank loan covenants and defaults.
- Address the impact of interest rates on unrealized losses in securities
- Review the demise of SEC ESG standards
- Address AICPA peer review deficiencies
- Learn about private company accounting and practice issues, and more.
Recommended CPEs: 5 hours
Field of study: Accounting (3 CPEs) and Auditing (2 CPEs)
Level of knowledge: Update
Prerequisites: General understanding of accounting, financial reporting, auditing and compilation and review standards recommended
Advance Preparation: None, but registrants are encouraged to review the handout material before participating in the live video conference Instructional
Method: Group Internet Based
Credits: 5.0 (Qualifies for Registry CPE credit based on a 50-minute per CPE hour measurement.)