NSAC Happenings and Latest News - Page 7
NSAC Great Lakes Chapter Inducts Two Distinguished Leaders into Hall of Fame
Bloomington, IL — June 13, 2025 The National Society of Accountants for Cooperatives (NSAC) Great Lakes Chapter proudly recognized two of its most dedicated members—Rebecca Thoune, Signing Director at CLA (CliftonLarsonAllen LLP), and David Loyd, Chief Financial Officer at Three Rivers FS—by inducting them into the Chapter’s esteemed Hall of Fame during the 2025 Annual Meeting held June 12–13 in Bloomington, ...
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Practical Uses of AI in Your Audit Practice
This article explores the evolving role of Artificial Intelligence (AI), particularly Generative AI (GenAI), in financial statement audits, highlighting its practical applications, adoption trends, and oversight considerations. It examines insights from the Public Company Accounting Oversight Board (PCAOB) regarding GenAI’s current uses in administrative audit functions and the associated governance challenges. The article details how ...
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FASB ISSUES Accounting Standards Update 2025-02 LIABILITIES (Topic 405) Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 122 - March 2025
Summary This Accounting Standards Update amends the GAAP Taxonomy (Codification of Standards) in accordance with SEC Staff Accounting Bulletin No. 122. The Section of the Codification that is amended is paragraph 405-10-S99-1 which relates to the topic Accounting for Obligations to Safeguard Crypto-Assets and Entity Holds for Its Platform Users. The entire paragraph is removed. The ASU, including replacement information, is available at ...
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The Cooperative Accountant Summer 2025
The Summer 2025 issue of The Cooperative Accountant (TCA) has been released! Focusing on cooperative-related issues, such as accounting and auditing, finance, cooperative management, legal and regulatory issues and taxation, this journal has become widely recognized as the industry standard. NSAC members, please log into Connect to view or download the latest issue.
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A Look Back at COMPASS 2025
COMPASS 2025 brought together cooperative tax, accounting, and finance professionals from across the country for an engaging and impactful experience centered on education, innovation, and meaningful connection. Designed to “point” attendees toward professional growth and industry excellence, last year’s conference delivered on every front. Relive the highlights: View the 2025 COMPASS Photo Gallery Over the course of the ...
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