The implementation date of the 2018 Yellow Book is near for performance auditors – audits beginning after July 1 this year! Check out this quote from the introductory letter of the 2018 Yellow Book: The 2018 revision of Government Auditing Standards is effective for financial audits, attestation engagements, and reviews of financial statements for periods […]
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Focus on a narrow audit objective
The 2018 version of the Yellow Book mentions audit objectives 163 times in one chapter on performance audits! That tells me that objectives run the show! And you know, the broader your audit objective, the longer your audit becomes and the harder your audit report is to write. Narrow audit objectives keep your audit […]
Abuse, Waste & Other Shenanigans: Reportable Conditions
Objectives: Classify an audit finding as: an internal control weakness; a violation of contract or grant agreement; fraud; or abuse and waste. Differentiate among the elements of a finding. If the auditee exhibits any of the following three conditions, and these conditions are significant or material, the auditor should describe them in their audit report […]
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 […]
Do you know what you are doing? Chapter 4: Yellow Book competence standards
As I revise my self-study book, “The Yellow Book Interpreted,” I will be sharing chapters with you. Objectives: Assess whether an audit team has met competency standards The competencestandard has raised more than a few eyebrows over the years. The competence standard is where the GAO introduces a very stringent continuing education requirement. Let’s begin by understanding the GAO’s […]
Does your team meet the 2018 Yellow Book Independence Standards?
Chapter 3: Independence As I revise my self-study book, “The Yellow Book Interpreted,” I will be sharing chapters with you. Objectives: Classify your ethical responsibilities in the government environment Apply the conceptual framework in evaluating threats to your independence as an auditor Identify the attributes of professional judgment per GAO standards All Three Together In […]
Introduction to the Yellow Book Interpreted
Objectives: Differentiate between the Yellow Book and other auditing standards Assess whether an engagement requires the use of the Yellow Book Identify the way the Yellow Book is organized Why do they call it the “Yellow Book”? The Yellow Book goes by many names: Government Auditing Standards, Generally Accepted Government Audit Standards (GAGAS – I […]
The Most Important Change to the Yellow Book is the Green Book
I’ve had a few months to digest the changes to the 2018 Yellow Book (Government Auditing Standards),and I’ve taught a few seminars and webinars about the changes. Most of the changes do not shock my audiences. But I am noticing that quite a few auditors are not familiar with the Green Book which was published by […]
Little frauds are a big deal in government.
Please enjoy Chapter 1 of An Auditor’s Responsibilities for Fraud in the Government Environment, available at Yellowbook-CPE.com. Objectives: Differentiate between auditing for fraud in the government environment and auditing for fraud in the commercial environment Fraud – it’s a costly thing! Whether it is committed in the government environment or the commercial environment, those who practice […]
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