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

• Who is this course for?
  This course is intended for any CPA, IRS Enrolled Agent, or audit professional seeking continuing professional education in government auditing, especially those conducting audits under Generally Accepted Government Auditing Standards (Yellow Book).

• What is this course about or what problem does it solve?
  It delivers foundational knowledge and updates on the 2024 Yellow Book standards, explaining when they apply, who must use them, how responsibilities are categorized, and the ethical principles that govern GAGAS audits.

• How can the knowledge from this course be used?
  Learners can apply the knowledge in governmental audit engagements—such as financial, performance, and attestation audits—ensuring compliance, structuring audit reports correctly, and upholding independence, competence, and ethics.

• Why is this course important to a CPA, Accountant, or IRS Enrolled Agent?
  It helps professionals meet regulatory requirements, understand mandatory application of GAGAS, maintain credibility in government-related audits, and complete needed CPE to satisfy licensure obligations.

• When is this course relevant or timely?
  With the release of the 2024 Yellow Book revision effective for audits beginning December 15, 2025, this course provides timely updates on key changes and helps auditors prepare accordingly.

• How is a course like this consumed or used?
  Delivered via NASBA QAS self‑study text, students work independently through chapters, complete review and final exam questions online, and must pass with at least 70% within one year to earn CPE credit.

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.

NASBA QAS - Text - NASBA Registry - 2595

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.

Chapter 1 - 2024 Yellow book Overview

Objectives

2024 Yellow Book Overview Introduction

Yellow Book

Engagement Team Definitions

Auditor:

Engagement team (or audit team):

Specialist:

Yellow Book Publications

Purpose

When and Where to Apply the Yellow Book

Effective Date

Overview of the 2024 Yellow Book Changes

Competence and CPE Requirements

Obtaining the 2024 Yellow Book

Chapter 1 Review Questions

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

Objectives

Introduction

Types of GAGAS Users

Types of GAGAS Engagements

Financial Audits

Attestation Engagements and Reviews of Financial Statements

Performance Audits

Terms Used in GAGAS

The GAGAS Format

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

Types of GAGAS Users

Types of GAGAS Engagements

Terms Used in GAGAS

Chapter 2 Review Questions

Chapter 3: General Requirements for Complying with Government Auditing Standards

Objectives

Relationship between GAGAS and Other Professional

Standards

Stating Compliance with GAGAS in the Audit Report

Chapter Summary: General Requirements for Complying with Government Auditing Standards

Chapter 3 Review Questions

Glossary