2026 Annual A&A Update FLEXCAST

Overview

This course delivers a complete picture of what’s changing across accounting and auditing and what it means for your practice right now. This course begins with a breakdown of the most significant FASB Accounting Standards Updates through ASU 2025-11 in plain language. You’ll gain a working understanding of new and upcoming requirements spanning government grants, software cost capitalization, hedge accounting, CECL simplifications, crypto asset reporting, income tax disclosures and more. Each standard is presented with effective dates and transition guidance so you know exactly when to act. The course then shifts to the audit and attest side with coverage of the new quality management standards, common peer review deficiencies, SAS 149 group audit requirements and recent ethics interpretations. You’ll walk away with practical strategies for managing engagement risk and meeting evolving professional standards.

Highlights

Recent FASB accounting standards updates and effective dates. Government grants and assistance accounting. Hedge accounting, derivatives, and credit loss standards. Accounting for software costs and internal-use technology. Crypto asset accounting and disclosure requirements. Business combinations, VIE acquisitions, and joint ventures. Share-based considerations, profits interests, and customer incentives. Income tax disclosure enhancements. Audit quality management standards and risk assessment updates. Peer review findings and common audit deficiencies. Attest vs. nonattest services and SSARS guidance. Professional ethics, independence, and recent interpretations. Group audits and component auditor considerations. Use of artificial intelligence in accounting and auditing.

Prerequisites

None.

Designed For

CPAs and accountants.

Objectives

Recall significant recent FASB standard-setting activity through ASU 2025-11. Identify the practical financial reporting impact of major current and upcoming U.S. GAAP changes affecting public and nonpublic entities. Distinguish key requirements related to selected accounting hot topics, including government grants, hedge accounting, software costs, CECL-related receivables, crypto assets, and income tax disclosures. Recognize major audit and attest developments affecting engagement performance and firm-level compliance in 2026. Identify practical responses to ongoing and emerging quality risks under the AICPA quality management standards. Recall key provisions of SAS No. 149 and related changes to professional standards. Distinguish between attest and nonattest services and recognize related independence and practice considerations. Recognize recent ethics interpretations that may affect CPA firm relationships, recruiting assistance, and other client service activities.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.