Please enjoy this excerpt from Professor James Crockett’s self-study book entitled The Audit Risk Formula available here on YellowBook-CPE for 3.5 hours of CPE credit. In this chapter, he discusses types of audit evidence. There are several different lists of types of audit evidence contained in the audit literature. The following is my attempt to […]
The auditing profession has taught me several models that help me think – both professionally and personally. For instance, I can convince my husband that we need to eat less sugar using the elements of a finding. I can back up my rationale for why I don’t think my brother-in-law should move in with us […]
Today we’re looking at how the Drug-Free Workplace Act of 1988 could affect your grant.
In this episode of THE SAMPLE, Leita Hart-Fanta, CPA answers the question, “How Much Yellow Book CPE Should I Earn?”
Are you using substantive analytical procedures in your audits? Many auditors rely solely on tests of details when a better option is available. Substantive analytics, in some cases, provide better evidential matter. And they are often more efficient than tests of details.
The GAO added the word ‘equity’ back into the Yellow Book a few months ago in the technical revision to the 2018 yellow book. Here is one place where it shows up: 1.02 The concept of accountability for use of public resources and government authority is key to our nation’s governing processes. Management and officials […]
Management is ultimately responsible for establishing and implementing internal controls. Both the COSO literature and the GAO’s Green Book make that very clear. But because auditors use internal control concepts extensively in their work, the line can get blurred regarding management and auditor responsibilities for internal control. You see, the COSO model and the Green […]
Auditor independence is as precious and essential to the credibility of an auditor as it is elusive. Independence can easily slip away without you even noticing it. And then one day, when you need to lean on it – when you really need it – it isn’t there. Only then do you realize you have […]
Today we’re looking at four common grant mistakes regarding the un-allowability of public relations costs you may experience when managing your Federal grant.