This update provides an overview of the most significant pronouncements, standards and advisories that have resulted from actions of regulatory bodies. We focus on the most significant issues that have impacted the economy within the past year and potential future implications as well as trending areas important to the accounting profession.
Publication Date: March 2025
Designed For
Controllers, Accountants, Auditors, Finance and Operational Professionals Professionals
Topics Covered
- Economic Overview
- AICPA Q4 2024 Business and Industry Economic Survey
- Review key accounting impacts
- FASB update
- SEC Rules update
Learning Objectives
- Explain the status of the economy as of early 2025 and expectations for business impacts
- Identify the impact of recent political issues
- Identify the AICPA outlook
- Identify FASB updates and changes
- Identify SEC updates and changes
- Identify PCAOB changes and updates
- Identify Private Company Council Updates
- Identify Institute of Internal Auditors updates
Level
Intermediate
Instructional Method
Self-Study
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
Basic understanding for Financial Reporting
Advance Preparation
None
Instructor
Lynn Fountain
Lynn Fountain has over 38 years of experience spanning public accounting, corporate accounting and consulting. 20 years of her experience has been working in the areas of internal and external auditing and risk management. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance. Lynn has held two Chief Audit Executive (CAE) positions for international companies. In one of her roles as CAE, she assisted in the investigation of a multi-million-dollar fraud scheme perpetrated by a vendor that spanned 7 years and implicated 20 employees. The fraud was formally investigation by the FBI and resulted in 5 indictments estimating a $13M fraud loss.
Ms. Fountain is currently engaged in her own consulting and training practice. She is a highly sought-after trainer and international speaker. In addition, Ms. Fountain has assisted numerous companies with enterprise risk management frameworks, internal audit processes and financial accounting. She also serves as a discussion leader for the AICPA for numerous classes finance, accounting and risk management topics.
Ms. Fountain is the author of three separate technical books. Her first book released in 2015 by the Institute of Internal Auditors Foundation is entitled “Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations”. Her second book “Leading the Internal Audit Function” was released in October 2015 by Taylor & Francis Publications. This book serves as the initial launch for a series of leading practice internal audit and information technology publications. Her third book “Ethics and the Internal Auditor’s Dilemma” was released in December 2016.
Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CPA, CGMA, CRMA credentials.