Description

2024 Yellow Book Standards for Financial Audits – Video Course includes an online video and self-study manual for 6 hours of CPE credit.

The Government Accountability Office (GAO) released an updated version of the Yellow Book in 2024. The Yellow Book requirements add to AICPA financial audit standards and customize the requirements for the government environment. The 2024 Yellow Book Standards for Financial Audits – Video Course highlights the crucial updates financial auditors need to know including the new quality management standards. By staying up-to-date on the latest requirements, financial auditors can attain the GAO’s goals of accountability, transparency, and service to the public. Major and minor themes as well as new terms and definitions added to the latest Yellow Book are discussed.

Course objectives include:

• Identify the way the Yellow Book is organized
• Differentiate between the Yellow Book and other audit standards
• Identify primary ethical principles for government auditors
• Identify threats to auditor independence
• Define safeguards to auditor independence including SKE
• Distinguish among the four types of Yellow Book engagements
• Recall reportable conditions and related behaviors
• Identify the purpose of the GAO's Green Book
• Distinguish between components of internal control
• Identify the elements of a finding
• Assess whether an audit team has met the Yellow Book requirements regarding quality management and peer review
• Cite CPE requirements established by the GAO

CPE Credit Hours: 6 NASBA Category of Study: Auditing (Governmental) Program level: Basic Prerequisites: None Advance preparation: None Who should attend: Auditors of government programs Instructional method: Video with online qualified assessment. QAS SS Author: Leita Hart-Fanta, CPA This course is also included in the Financial Statement Audit Bundle, the Yellow Book Standards for Financial Auditors Bundle, and the Single Audit Bundle. Questions? You can find our FAQ here and our policies here.