Description

The 2024 GAO Yellow Book Interpreted includes a self-study e-book delivered to you immediately upon purchase for 10 hours of CPE credit.

Is it time for you to know the GAO Yellow Book – really know it? Let Leita be your guide, as she converts the 2024 Government Auditing Standards (also known as GAGAS) into plain English and helps you apply its unique standard and guidance to your audit. This text covers the latest on quality management, independence, and audit planning. All three types of engagements - financial, attestation, and performance - are covered. Whether you are an internal auditor, government monitor, or external auditor, the Yellow Book could apply to you.

Course objectives include:

• Differentiate between the Yellow Book and other auditing standards
• Assess whether an engagement requires the use of the Yellow Book
• Identify the way the Yellow Book is organized
• Conclude which standards should and must be applied to each type of audit
• Distinguish among the three types of Yellow Book engagements
• Distinguish among the three types of attestation engagements
• Classify your ethical responsibilities in the government environment
• Apply the conceptual framework in evaluating threats to your independence as an auditor
• Define professional skepticism per GAO standards
• Assess whether an audit team has met competency standards
• Assess whether an audit team has met the Yellow Book requirements regarding quality management and peer review
• Differentiate between major themes in the Yellow Book and minor themes
• Identify the purpose of the GAO’s Green Book
• Distinguish between components of internal control
• Distinguish between management objectives
• Choose a finite subject matter on which to apply controls
• Classify an audit finding as: an internal control weakness; a violation of contract or grant agreement; fraud; or abuse and waste
• Differentiate among the elements of a finding
• Define abuse and your responsibility with regard to abuse in the government environment
• Differentiate between the concepts of materiality and significance
• Identify factors that affect audit risk in a performance audit
• Define the parameters of an audit project: audit objective, audit scope, and audit methodology
• Distinguish among the types of information that you “should” and “may” gather during the planning phase of a performance audit
• Distinguish among the types of evidence and judge their relative strength
• Distinguish between mandatory and optional documentation requirements
• Identify communication requirements for all types of Yellow Book engagements
• Identify planning requirements for all types of Yellow Book engagements

CPE Credit Hours: 10 NASBA Category of Study: Auditing (Governmental) Program level: Intermediate Prerequisites: One or more years of audit experience Advance preparation: None Who should attend: Auditors Instructional method: Self-study text with online qualified assessment. QAS SS Author: Leita Hart-Fanta, CPA This course is also included in the Yellow Book Standards for Financial Auditors Bundle and the Yellow Book Standards for Performance Auditors Bundle. Questions? You can find our FAQ here and our policies here.