In this engaging conversation, Melisa Galasso shares her insights on the complexities of auditing, particularly focusing on single audits and compliance. She discusses the challenges faced by auditors, the importance of understanding federal guidelines, and the impact of recent changes in administration on auditing standards. Melisa emphasizes the need for specialized knowledge in the auditing field and the shortage of qualified professionals. The discussion also touches on the significance of volunteering in professional organizations for career development and the importance of finding one's niche in the accounting profession.
Chapters:
00:00 Introduction to the Audit World
01:56 Understanding Single Audits
05:02 Challenges in Compliance Auditing
09:53 The Importance of Specialized Knowledge
15:00 The Shift in Audit Practices
19:55 The Role of AICPA and GASB
24:54 Volunteerism in the Accounting Profession
30:03 Impact of Standards on Nonprofits
33:57 Conclusion and Call to Action
About Melisa F. Galasso, CPA CSP CPTD:
Passionate about providing confidence, not just compliance, Melisa leads Galasso Learning Solutions as Founder & CEO. Melisa is a nationally recognized authority in designing and facilitating courses on advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. Since 2016, she has guided the GLS team to deliver quality in everything we do.
With a far-ranging career in public accounting, academia and industry and a bachelor’s degree from Georgetown University, Melisa has built a reputation for delivering engaging, effective learning experiences for CPAs. Committed to advancing our profession, she has served on multiple committees for leading industry organizations including the AICPA and FASB, written the nonprofit accounting book, “Money Matters for Nonprofits,” and has been honored with the Top 50 Women in Accounting Award, the Rising Star award from NAWBO Charlotte, and “40 under 40” recognition by CPA Practice Advisor.
In her free time, Melisa loves spending time with her family and can often be found at one of her daughter’s horse shows, supporting the arts with tickets to the orchestra, volunteering, or speaking a bit of French or Spanish on one of her treasured quarterly vacations.