In this episode of THE SAMPLE, Leita Hart-Fanta, CPA answers the question, “Should I adopt the IIA Red Book, or the GAO Yellow Book for my audit shop?”
yellow book
When Is the GAO Yellow Book Applicable?
In this episode of THE SAMPLE, Leita Hart-Fanta, CPA discusses when to apply the GAO Yellow Book to your audit.
What is the job of an auditor?
Auditors, I suggest you keep your job title on the down-low when meeting someone new at a party. Why? Because just as soon as you reveal you are an auditor, your new acquaintance will get very quiet. Shortly thereafter, your not-yet (and likely will-never-be) friend will leave to get a drink and never come back. […]
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 […]
The Difference Between Fraud, Waste and Abuse
The difference between fraud, waste and abuse is a matter of degrees. Only fraud is a reportable condition under Yellow Book standards.
Key Controls
Thank goodness you don’t have to audit every control relevant to your objective, just the KEY controls!
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. A few years ago, I created […]
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 […]
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 […]
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