Description
The GAO’s Yellow Book auditing standards (also known as GAGAS) set a high bar for auditors of government programs.
The 2024 version of GAGAS requires audit teams to set up a quality management system to ensure that the team’s work complies with standards. Although the quality management system is customizable for each audit shop, GAGAS requires some mandatory components that all teams seeking to comply with the Yellow Book need to be aware of. Let Leita Hart-Fanta, CPA, a certifiable yellow book nerd, guide you through what you need to know to pass that next peer review.
This course will be customized for your audit team – whether your team performs performance audits, financial audits, Single Audits, or attestation engagements.
Major Topics:
- Audit planning
- Evidence
- Continuing professional education
- Quality management standards including peer review standards
- Reportable conditions including waste and abuse
- Documentation
- Reporting including conclusions and findings
- Individual auditor and audit team independence
Objectives Include:
- Select the Yellow Book auditing standards that apply to your engagement
- Define requirements for peer review and quality management
- Apply the independence and competence standards to your team
- Use the elements of a finding to flesh out an audit issue
- Label reportable conditions as waste, abuse, fraud, non-compliance, & an internal control weakness
- Differentiate between types of audits
- Review the Green Book and the auditor’s responsibilities for documenting, evaluating, and reporting on internal controls
Program level: Intermediate
Instructional method: Group live instruction
NASBA Category of Study: Auditing (Governmental)
Advance preparation: One or more years of auditing experience
Who should attend: Auditors and monitors of governmental funds and programs. The course will concentrate on either financial/single audits or performance audits, depending on the needs of the audience.
Recommended CPE credit: 8 hours of NASBA qualified hours that counts toward the 24 hour Yellowbook CPE requirements.
Read more on this topic here.
What People Say About This Seminar
“It’s been a most entertaining and valuable learning experience and we thank you for making dry audit standards and principles so alive! “ – V.I. IG Auditor
“Thanks very much for the great class today. I found it interesting, informative and a lot of fun!!
As someone new to auditing, not to mention government auditing, I was aware that I needed to have a much better understanding of the Yellow Book, and I feel that today was a perfect overview of how the audit process of the Yellow Book works and should work. The instructions, Q&A, and exercises, as well as the asides and personal stories, helped reinforce the core content. Overall a great day of learning for me that will help directly with my OSA duties and responsibilities. “ – Gene B. Assistant State Auditor
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