The AICPA has issued a Technical Q&A to address questions surrounding reporting on the SEFA when the amount reported does not tie back to the financial statements due to DHHS’s requirement to report based on the reporting to the Portal. The TQA provides guidance on the application of AU-C 725 to this scenario.

How difficult have the changes to PRF funds been on entities?

SCACPA is excited to partner with Galasso Learning Solutions and the Genuine Learning Blog for real-time A&A updates and answers for SCACPA members. Melisa is a speaker on audit topics at SCACPA’s annual Spring Splash and Fall Fest conferences. She also takes part in many SCACPA seminars and rebroadcasts.

With over 15 years of experience in the accounting profession, Melisa Galasso designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. She closely monitors regulatory bodies for changes in auditing and accounting guidance and serves as a subject matter expert in implementing the updated guidance.