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 ending on or after June 30, 2020, and for performance audits beginning on or after July 1, 2019. Early implementation is not permitted.
The most significant change for performance auditors is inclusion of the Green Book. Not sure what the Green Book is? You still have a few months to figure it out.
We offer several enjoyable (yes, I said enjoyable!) courses to get you ready:
- The 2018 Yellow Book Interpreted self-study book – 10 hours of CPE credit
- 2018 Yellow Book Standards for Performance Auditors on-demand video – 2 hours of CPE credit
- The Green Book: Standards for Internal Control self-study book – 7 hours of CPE credit
- The GAO’s Green Book: Internal Controls webinar – 2 hours of CPE credit
If you haven’t yet, make sure to review the 2018 Yellow Book.
The GAO did not make a handy list of changes as they have for previous revisions. So, I made one last year. It isn’t 100% complete, but it may point you to some items you should study.