Government Auditing Standards and Foundations - Yellow Book Series (Course Id 2595)

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.

Chapter 1
2018 Yellow book Overview

• Recognize when the Yellow Book standards must be applied.
• Identify the new organization and format of the 2024 Yellow Book.
• Recognize the five areas that changed in the 2024 Yellow Book from the 2018 Yellow Book.

Chapter 2
Foundation and Principles for the Use and Application of Government Auditing Standards

• 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 3
General Requirements for Complying with Government Auditing Standards

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