Based on *Government Auditing Standards*, 2024 Revision, this course is essential for auditors performing Yellow Book audits. It provides detailed information about conducting engagements in accordance with the Yellow Book and requirements related to independence. This course will increase participants' knowledge of the requirements and application guidance related to ethics, standards for financial audits, attestation engagements, and performance audits.
Learning Objectives
When you complete this course, you will be able to:
- Recognize the types of auditors and audit organizations that may employ GAGAS to conduct their work.
- Identify and apply the requirements contained in Government Auditing Standards (generally accepted government auditing standards, GAGAS, or the Yellow Book).
- Recognize the fundamental ethical principles and the role of professional judgment in the government environment.
- Recognize requirements relating to competence and continuing professional education.
- Identify additional GAGAS requirements for conducting and reporting on financial audits.
- Identify the three types of attestation engagements found in generally accepted government auditing standards (GAGAS or the Yellow Book) and the additional GAGAS requirements beyond those of the AICPA for attestation engagements.
- Recall the overall approach for auditors to apply in planning and performing an audit to obtain sufficient, appropriate evidence that provides a reasonable basis for findings and conclusions based on the audit objectives.
Major Topics
- Foundation and principles of generally accepted government auditing standards (GAGAS)
- Yellow Book compliance requirements
- Ethics, independence and professional judgment
- Competence and continuing professional education
- Quality control and peer review
- Standards for financial audits, attestation engagements and reviews of financial statements
- Fieldwork and reporting standards for performance audits
