Biggest Challenges in Accounting Today

Author: Pat Patterson

This update is about frequently found challenges and issues in the CPA profession. This course discusses new and recently issued FASB pronouncements that impact Accounting and Audit issues with staff requirements for 2025 and future years. Training issues in engagement letters, changes to reporting formats, disclosure requirements, and engagement administration matters are presented. Accounting issues include the new points of revenue recognition, financial instruments, leases, and Quality Management (QM). The AICPA’s Code of Professional Conduct has changes for those in public accounting, in business, and others which are difficult to stay abreast of including NOCLAR Interpretations.

Publication Date: December 2025

Designed For
CPAs and others that need to be current on professional standards in their firm, for staff, for clients, for client applications, and to meet the continuing professional education requirements of their state laws and rules.

Topics Covered

• Selected FASB Accounting Standards Updates (ASUs) for, 2025, and later are discussed for learning possibilities
• AICPA Auditing Standards Update: 2024, 2025, and future, including Quality Management Standards and Ethics such as NOCLAR are discussed
• Solutions to help Auditors in the future with SASs 141-149
• The Changes to SSARS and SSAE are dealt with

Learning Objectives

• Identify how to attract and retain the right talent
• Identify how to find staff who possess the tax and technical skills required and needed in today’s environment
• Recognize the changes in employee desires and expectations and how to fix the problem
• Recognize a weak supply of new accounting majors and graduates
• Recognize the rising number of retirees and those seeking retirement that has increased the problem of the issue
• Recognize the problem of good time use and requirements to meet deadlines
• Determine how to stay up to date on constantly changing tax regulations and professional rules