The U.S. Government Accountability Office (GAO) issued a new revision of Generally Accepted Government Auditing Standards, also known as the “Yellow Book.” Last revised in 2011, the Yellow Book is designed to help government auditors at the federal, state, and local levels produce high-quality audits that reflect competence, integrity, objectivity, and independence. Key changes covered in the revised 2018 Yellow Book will be addressed in this session, including:
- Updated independence requirements
- Revised peer review requirements
- Updated internal control guidance
Course Publication Date:
August 19, 2020
This course is available with
NO ADDITIONAL FEE if you have an active
self study membership or
all access membership or can be purchased for
$20.00!
| Author: | Frank Castillo CPA |
| Course No: | GAUD-YELLBK-10320 |
| Recommended CPE: | 2.00 |
| Delivery Method: | QAS Self Study |
| Level of Knowledge: | Basic |
| Prerequisites: | None |
| Advanced Preparation: | None |
| Recommended Field of Study: | Auditing (Governmental)
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Learning Objectives
- Differentiate between a Financial Audit and Performance Audit.
- Recall the Effective Dates for implementing the 2018 Generally Accepted Government Auditing Standards.
- Identify changes to the format and organization of the 2018 Generally Accepted Government Auditing Standards.
- Identify steps in connection with the GAGAS Conceptual Framework for Independence.
- Recall “safeguards” in connection with independence considerations when preparing accounting records and financial statements.
- Recall details in connection with revised External Peer Review requirements.
- Identify steps in accordance with Peer Review Communications for observed matter under GAGAS.
- Identify factors which may be considered when determining the significance of internal control relative to audit objectives.
- Recall CPE Requirements as expressed in GAGAS.