I am a sharer, a disseminator, and a bug-like genetic slave to my professional function as a teacher and an author. Think of me as a little bee, flitting from flower to flower, spreading delicate yellow pollen… Wait! If you have ever met me in person, that image won’t work. No one has ever called […]
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Scope limitations render an auditor useless
In the past few weeks, I have encountered three separate audit teams (one at the city level, one at the county level, and one at the federal level) who are struggling to overcome scope limitations. This is a very frustrating experience for the auditor and results in a significant waste of taxpayer funds. What are […]
163 Times! Audit Objectives Star in Chapter 8 of the Yellow Book
Audit objectives impact every decision on a performance audit. The GAO uses the term objective 163 times in Chapter 8 of the Yellow Book. Chapter 8 explains how to conduct a performance audit and is so rich with wisdom that I refer to it in almost every course I teach. I recently heard a preacher […]
Technical Update to the 2018 Yellow Book Reduces Complexity
I have some great news to share! On April 14, 2021, the GAO issued a technical update to the 2018 Yellow Book. The update is like a beautiful spring bouquet for performance auditors because it eliminates two requirements that were overcomplicating a performance auditor’s work regarding internal control. What were the complications? Thank you, GAO, […]
GAO Yellow Book Technical Update
On April 14, the GAO issued a technical update to the 2018 Yellow Book. I will be writing more about this in future newsletters, but wanted to alert you to these changes as soon as possible. Most of the changes impact performance auditors. The GAO has thankfully reversed their requirement that all 17 principles of […]
What is the purpose of a performance audit?
In this episode of THE SAMPLE, Leita Hart-Fanta, CPA answers the question, “What is the purpose of a performance audit?”
COSO and the GAO Green Book are the same thing
GAO Green Book, GAO Yellow Book … will the Government Accountability Office (GAO) never cease creating books with colored covers? Next thing you know, the GAO will come out with a Purple Book! The GAO Green Book’s formal title is Standards for Internal Controls in the Federal Government. The GAO Yellow Book is also known as Generally Accepted […]
Nurture your professional network now
Your professional network will catch you when you fall. Think of it as an emergency fund for your career. When you lose a job or simply must get another because you are miserable where you are, you are going to turn to your professional network just like you have to turn to your emergency fund […]
When to get a new job: For audit professionals
When to get a new job: For Audit Professionals by Terry Owen What is the most important asset within your audit shop? I hope you answered loud enough that you startled those around you, “It’s the people!” Whether you’re a manager, a seasoned auditor or the newly minted MBA that just joined the team, you […]
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