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Tax & AccountingNovember 08, 2024

An audit expert's perspective: Meet the expert - Melisa Galasso

By: Wolters Kluwer Tax and Accounting
Melisa Galasso is a distinguished name in the realm of continuing professional education for CPAs. As the CEO of Galasso Learning Solutions, she has dedicated her career to enhancing the quality of education and training for accounting professionals, with a particular focus on government and nonprofit accounting and auditing. Her journey into the world of auditing began at Georgetown University where she discovered her passion for accounting. Initially uncertain about her career path, Melisa was inspired by her professors and the real-world impact of auditing, especially in the wake of the Sarbanes-Oxley Act. This pivotal moment solidified her commitment to the profession and her desire to contribute to public trust through high-quality auditing.


Marking significant achievements throughout her career, Melisa started at a Big Four firm but soon transitioned to roles that aligned more closely with her passion for teaching and training. Her experience includes internal auditing, university teaching, and national office roles. Founding Galasso Learning Solutions allowed her to focus on her passion for education full-time. Additionally, Melisa has been actively involved with the AICPA, previously serving on the Technical Issues Committee and graduating from the AICPA Leadership Academy. She now serves on the Financial Reporting Executive Committee (FinREC). These roles have enabled her to influence standard setting, ensuring that the highest standards are maintained in the field of auditing. She authors the single audit updates and non-traditional engagements for Wolters Kluwer and serves as a reviewer for Wolters Kluwer’s government tool set. 

Driven by a desire to stay connected with the practical aspects of auditing, Melisa’s approach to writing audit content incorporates feedback from firms to improve work papers and ensure they address real-world challenges. Her process involves reviewing recent changes, prioritizing updates, and enhancing the clarity and usability of audit tools. This meticulous approach ensures that the content she produces is both relevant and practical, helping auditors navigate the complexities of their work with greater ease and confidence.
 
I personally am a huge fan of government and nonprofit accounting and auditing.
Melisa Galasso, CPA, CEO, Galasso Learning Solutions
Staying abreast of the latest trends and changes in auditing is crucial for Melisa, who monitors standards from their inception as exposure drafts to their finalization. She emphasizes the importance of understanding the rationale behind standards to provide meaningful updates and guidance, allowing her to anticipate changes and prepare her audience for new developments. This proactive approach ensures that they are always well-informed and prepared for the future. A key lesson Melisa has learned is the importance of questioning why certain procedures are performed, which not only improves efficiency but also ensures that auditing practices are meaningful and impactful. By understanding the purpose behind each task, auditors can perform their work with greater intention and effectiveness, ultimately leading to higher quality audits and better outcomes for their clients. Particularly passionate about risk assessment, Melisa views it as a critical component of efficient and effective auditing. She believes that a well-documented risk assessment can significantly enhance audit quality by focusing efforts on the riskiest areas. This focus on risk assessment is evident in her teaching and writing, where she consistently emphasizes its importance and provides practical guidance on how to implement it effectively.

Melisa is currently pursuing a Doctorate in Business Administration with a focus on risk assessment and aims to contribute to the field through her research. Her project involves developing an experiment to influence future standard setting and improve auditing practices. This ambitious endeavor reflects her commitment to continuous learning and her desire to make a lasting impact on the profession.

Partnering with Wolters Kluwer

Choosing to partner with Wolters Kluwer due to their shared commitment to high-quality audits and adherence to standards, Melisa leverages her expertise to create content that is both practical and comprehensive. Wolters Kluwer’s knowledge-based content is designed to help auditors and firms navigate the complexities of auditing standards with ease. The integration of risk assessment in their tools is particularly valuable, as it helps auditors tailor their approach to the specific risks of each engagement, leading to more accurate and efficient audits.

The value of Knowledge Coach

The CCH Knowledge Coach solutions, including cloud-based CCH Axcess™ Knowledge Coach and Knowledge Coach PCR or on-premise CCH® ProSystem fx® Knowledge Coach, leverage Wolters Kluwer’s Knowledge-Based methodology and are integral to the audit workflow. These tools provide a seamless integration of audit practice aids for planning, risk assessment, review, and team collaboration. Knowledge Coach streamlines the audit process by tailoring each audit to an entity’s unique circumstances, directly linking identified risks with audit steps, and ensuring that under-or-over auditing is limited. This software facilitates collaboration across audit engagements, improves overall audit quality, and enables auditors to exercise professional judgment while remaining compliant with current AICPA Risk Assessment Standards.
Because risk assessment is a passion of mine, I really like the way that you link the items.
Melisa Galasso, CPA, CEO, Galasso Learning Solutions

Insights from Melisa

Melisa’s advice to aspiring auditors is rooted in integrity and continuous learning. She emphasizes the importance of understanding the purpose behind audit procedures and encourages auditors to question and improve their practices continually. By doing so, auditors can add significant value to their work and better serve the public interest. She also highlights the importance of finding a mentor, as these relationships can provide invaluable guidance and support throughout one’s career.

Melisa Galasso’s journey exemplifies the impact of passion, dedication, and a commitment to continuous learning. Her extensive contributions to the field of auditing, particularly her emphasis on the importance of addressing risk, highlight her as a true expert and invaluable resource for auditors. Melisa believes that a well-documented risk assessment is crucial for enhancing audit quality, as it directs efforts towards the riskiest areas. Through her collaboration with Wolters Kluwer and her ongoing research, Melisa continues to drive the evolution of auditing practices, ensuring the profession remains innovative, relevant, and impactful. Her work not only enhances the quality of audits but also reinforces the importance of integrity and excellence in the field.
When you understand what you are doing, you understand the importance of being an auditor and serving the public.
Melisa Galasso, CPA, CEO, Galasso Learning Solutions
Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and expertise that helps tax, accounting and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed and accuracy.

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