The Generally Accepted Governmental Auditing Standards, also known as the Yellow Book, provides a comprehensive framework for conducting governmental audits with a focus on high quality, integrity, competence, independence, and objectivity. The Yellow Book is used by auditors of government organizations, entities that receive government awards, and any other audit organization performing Yellow Book audits. The Yellow Book outlines all requirements for governmental audit reports, professional qualifications for auditors, and audit organization quality control. 

This course will describe when the Yellow Book standards must be applied. This course will identify the types of auditors and audit organizations that may employ GAGAS to conduct their work. This course will identify the categories of requirements that GAGAS uses to describe the degree of responsibility imposed on auditors and audit organizations. Finally, this course will identify the ethical principles that guide the work of auditors who conduct engagements in accordance with GAGAS. 

Course Learning Objectives

Chapter 1 - Foundation and Principles for the Use and Application of Government Auditing Standards

At the end of this chapter, the student will be able to:

• Identify the types of auditors and audit organizations that may employ GAGAS to conduct their work,
• Recognize the types of engagements that may be conducted in accordance with GAGAS, and
• Identify terminology that is commonly used in GAGAS.

Chapter 2 - General Requirements for Complying with Government Auditing Standards

At the end of this chapter, the student will be able to:

• Identify the categories of requirements that GAGAS uses to describe the degree of responsibility imposed on auditors and audit organization.

Chapter 3 - Ethics, Independence, and Professional Judgment

At the end of this chapter, the student will be able to:

• Identify the ethical principles that guide the work of auditors who conduct engagements in accordance with GAGAS.
• Recognize the purpose of applying the GAGAS Conceptual Framework.
• Recognize that action that must be taken by auditors if they conclude that the independence of the engagement team or the audit organization is impaired.

Chapter 4 - Competence and Continuing Professional Education

At the end of this chapter, the student will be able to:

• Identify the individuals that have a role on an audit engagement.
• Identify the number of CPE hours that must be completed in a 2-year period in order to maintain their professional competence.
• Recognize the requirements related to specialists using during an audit.