For full functionality of this site it is necessary to enable JavaScript. Here are the instructions how to enable JavaScript in your web browser.

CPE for Government Auditors
News & Updates

Chapter 10 – Focus!

You will never reach your destination if you stop and throw stones at every dog that barks.  -Winston Churchill I burned up several chapters covering the risk assessment component of the COSO model… but if you don’t get that right, nothing else works.  There is no point to having well designed controls over items that are [...]

Continue reading →

Interesting Clauses from the 2017 GAGAS Exposure Draft

Hey Audit Nerds – Stop reading right now if you are NOT an audit nerd!  Specifically a GOVERNMENT audit nerd. I made this list of interesting clauses from the 2017 Exposure Draft to use in my seminars and I thought I would share it with you.  As you know, the Yellow Book will not be [...]

Continue reading →

Chapter 13: Fraudulent Financial Statements

5 scale

Objectives:  Identify how government statements can be fraudulently misstated Identify what would motivate a government to misstate their financial statementsDefine risk “Yes! Finally captured Martha Stewart. You know, with all the massive and almost completely unpunished fraud perpetrated on the American public by such companies as Enron, Global Crossing, Tyco and Adelphia, we finally got [...]

Continue reading →

My comments to the GAO on the 2017 exposure draft of GAGAS

Here is the short response that I sent to the GAO on the 2017 exposure draft of GAGAS.  The deadline for comments is July 6.  Please send your comments to YellowBookComments@gao.gov. 6/20/17 GAO GAGAS Team – Thank you for giving the audit community a chance to comment.  I am in the relatively unique position of having the [...]

Continue reading →

Inventory Misappropriation

3 red

Objectives: Distinguish between the two major types of inventory misappropriation Cash isn’t the only goodie that can be stolen or misused. There are two ways to misappropriate a non-cash asset – steal it or use it personally.   The fraud tree calls these categories “larceny” and “misuse.” Misuse My husband once worked at a very upscale [...]

Continue reading →

Another Layer to the Green Book

integration

When I was younger, I was often unpleasantly surprised to find out that responsibilities have layers.  I thought I had gone through the final step… but no!  Instead I realized there was another step, another layer of complexity that needed to be embraced.  And then I found another layer and another layer. I remember one [...]

Continue reading →

For Nerds Only: Yellow Book Update

I just finished my first high-level review of the exposure draft of the yellow book (GAGAS), and thought I’d go ahead and share with you the things that stood out to me.  That does not mean that this list is comprehensive! The GAO has done us all a favor and included a comprehensive list of [...]

Continue reading →

Can you charge insurance, interest, professional memberships, taxes and travel to the Feds?

Please enjoy this excerpt from Boyar and Allen’s self study book on Cost Principles available at Yellowbook-CPE.com here:  http://yellowbook-cpe.com/product/cost-principles Objectives:  Identify under which conditions morale costs, fines and penalties, insurance, interest, and membership costs are allowable costs Distinguish between allowable and unallowable pre-award costs, taxes, and travel costs Employee Morale Costs Have Become Unallowable Until the [...]

Continue reading →

Yellow Book Exposure Draft Issued!

The Yellow Book exposure draft was published April 5, 2017.  We have until July to provide feedback to the GAO.  I will share my feedback with you once I develop it. Find it here: http://www.gao.gov/products/GAO-17-313SP

Continue reading →

Allowable Buildings & Equipment Costs for Federal Programs

Please enjoy this excerpt of Bill Allen and Sefton Boyar’s self-study course on Federal Cost Principles in the Uniform Grant Guidance.  The self-study is available for CPE credits here: http://yellowbook-cpe.com/product/cost-principles Objectives:  Determine how to recover building and equipment costs Distinguish between idle capacity and idle facilities and related allowable costs Identify which costs are allowable as [...]

Continue reading →

Cash Register Fraud Schemes

1

A false balance is an abomination to the Lord, but a just weight is his delight. Proverbs 11:1 We are at the end of our discussion of fraudulent disbursements per the Certified Fraud Examiners fraud tree.  Please see : http://www.acfe.com/fraud-tree.aspx   for an image of the fraud tree.  So far we have covered four of the five categories [...]

Continue reading →

Check Tampering Fraud Schemes

One who is faithful in a very little is also faithful in much, and one who is dishonest in a very little is also dishonest in much. If then you have not been faithful in the unrighteous wealth, who will entrust to you the true riches? And if you have not been faithful in that [...]

Continue reading →

Possible changes to the GAO’s Yellow Book

As of this writing, in February 2017, the Yellow Book is in flux.  First the GAO will issue an ‘exposure draft’ of their government audit standards (a.k.a. the Yellow Book) to allow for public comment.  After taking the public’s comments into consideration, they will issue a final version sometime in 2017. For now, let me [...]

Continue reading →

Charging “Other Services” to the Federal Grantor

Please enjoy this chapter from “The New Uniform Guidance” self-study course by Sefton Boyars and Bill Allen. This chapter focuses on whether grantees can charge legal and lobbying expenses to the federal government. Boyar and Allen also cover how grantees should handle donated services and assets. Objectives:  Judge which professional service costs are allowable under [...]

Continue reading →

Expense Reimbursement Fraud Schemes

1

We are still working through the cash disbursement schemes mentioned in the fraud tree.  For a picture of the fraud tree, see this link: http://www.acfe.com/fraud-tree.aspx. Last time we discussed the categories of fraudulent disbursements, we covered payroll schemes and billing schemes. This time we will cover the third out of five schemes classified by the Certified [...]

Continue reading →

Compensation for Personal Services

Please enjoy this chapter from “The New Uniform Guidance” self-study course by Sefton Boyars and Bill Allen.  http://yellowbook-cpe.com/product/cost-principles?doing_wp_cron=1481663219.2448880672454833984375 Objective: Clarify which compensation charges are allowable under a federal award and what documentation is required  General Allowability of Compensation for Personal Services Having looked at the table of contents for the cost principles, you will have [...]

Continue reading →

Completing the risk assessment

1skull

Risk assessment per the Green Book is a complicated, multiple-step process.  First, you have to break the universe into small enough pieces to be able to confidently assess risk on each piece. (Remember, if your subject matter is too broad, you will have a hard time moving on to later steps.)  Next, you have to [...]

Continue reading →

Fraudulent Disbursements – Billing Schemes and Payroll Schemes

2 shoes

More in the series on getting to know the fraud tree better. To get a better sense of where we are on the fraud tree and which branch we are talking about in this newsletter, please see the entire fraud tree at http://www.acfe.com/fraud-tree.aspx. Learn to do good; seek justice, correct oppression; bring justice to the [...]

Continue reading →

Selected Items of Cost – Overview

Please enjoy this chapter from the self-study book, “New Uniform Guidance: Cost Principles for Non-Profits and Governments” by Sefton Boyars and Bill Allen. If you want to earn credit for reading – see this link: http://yellowbook-cpe.com/product/cost-principles   Objective: Distinguish which costs are usually allowable and which are unallowable   General Provisions for Selected Items of Cost We [...]

Continue reading →

Misappropriation of Cash: Larceny & Skimming

2 thief

More in the series on getting to know the fraud tree better.  To get a better sense of where we are on the fraud tree and which branch we are talking about in this newsletter,  please see the entire fraud tree at http://www.acfe.com/fraud-tree.aspx. Objectives:  Differentiate between skimming schemes Differentiate between schemes to misappropriate cash “I was [...]

Continue reading →
Stay Up-To-Date

Sign up here to have the lastest from Yellowbook-CPE.com delivered right to your inbox.

Just provide your name and email information below, and as an introductory “Thank You”, you’ll be able to view and download a free copy of our Audit Objectives whitepaper.

×

Login

Lost your password?