The 2023 GAGAS exposure draft proposes auditors apply a formal three-step process to protect audit quality.
Parallelism and Paul Simon
Make your audit reports more dynamic by using parallelism: Similar words, phrases, bulleted lists and other grammatical elements to emphasize similar ideas in a sentence.
What are Government Auditing Standards?
Government auditing standards have many aliases: Yellow Book Standards, Generally accepted government auditing standards, GAGAS, GAO auditing standards. So hopefully, you are in the right spot!
What is the Hardest Part about Complying with Generally Accepted Government Auditing Standards?
In this post, Leita Hart-Fanta answers the question, “What is the hardest part about complying with generally accepted government audit standards? She ranks 5 important areas.
Ethical guidelines for auditors
The GAO’s ethical guidelines for auditors remind us who we are and why we do what we do. And this is a very good thing, because it is easy to get balled up in the details of our day-to-day work and, forgetting the bigger picture of who we are and what we do, take the […]
Blending the Green Book with the Yellow Book
Objectives: Identify the purpose of the GAO’s Green Book. Distinguish between components of internal control. Distinguish between management objectives Choose a finite subject matter on which to apply controls Identify the auditor’s responsibilities regarding application of the Green Book Most of the changes between the 2011 Yellow Book and the 2018 Yellow Book that we […]
Has the GAO gone too far with audit quality control?
Objectives: Assess whether an audit team has met the Yellow Book requirements regarding quality control and peer review At the most basic level, the quality control requirements are twofold. The Yellow Book requires that audit shops: have an internal quality control system, and undergo an external peer review that determines whether the audit shop’s quality […]
The 2018 Yellow Book is OUT!
The GAO issued the 2018 version of Generally Accepted Government Auditing Standards Tuesday. Find the online version here: https://www.gao.gov/assets/700/693136.pdf. Find an audio summary of the changes to the standards here: https://www.gao.gov/multimedia/podcast/692926 I suggest you scan chapter 4 and specifically section 4.16 to make sure you are compliant with the CPE requirements. Also notice that the GAO has […]
Yellow Book Ethics
Enjoy this excerpt from the self-study text: The Yellow Book Interpreted which qualifies for 15 hours of CPE. The GAO has a few things to say about a government auditor’s ethical responsibilities and, thus, added a large section on ethics to the 2007 revision of the Yellow Book. The same ethical principles appear in the 2017 […]