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Government Auditing Standards and Performing Audits - Yellow Book Series (Course Id 1736)

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Author : Andrew Clark, EA
Status : Production
CPE Credits : 5.0
IRS Credits : 0
Price : $44.95
Passing Score : 70%
Course Type: NASBA QAS - Text - Technical - NASBA Registry
Primary Subject-Field Of Study:

Auditing (Governmental) - Auditing (Governmental) for Course Id 1736

Description :

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 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. This course will identify the requirements for auditor communication. This course will identify the general planning requirements for an audit that must comply with all of the applicable requirements for a review of financial statements conducted in accordance with GAGAS. Finally, this course will describe what must be included and what must be excluded from an audit report. 

Usage Rank : 0
Release : 2020
Version : 1.0
Prerequisites : Basic understanding of the auditing process.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 27-Oct-2020
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - Technical - NASBA Registry - 1736

Keywords : Auditing (Governmental), Government, Auditing, Standards, Performing, Audits, Yellow, Book, Series, cpe, cpa, online 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
Standards for Financial Audits

At the end of this chapter, the student will be able to:
  • Identify the requirements for auditor communication.
  • Recognize the items that an auditor should include in report on internal control and compliance.
  • Identify what an auditor must do if certain information is prohibited from public disclosure or is excluded from a report because of its confidential or sensitive nature.
  • Recognize what an auditor must do when Obtaining and Reporting the Views of Responsible Officials.

Chapter 4
Fieldwork Standards for Performance Audits

At the end of this chapter, the student will be able to:
  • Identify the general planning requirements for an audit that must comply with all of the applicable requirements for a review of financial statements conducted in accordance with GAGAS.
  • Recognize the five components of internal control.
  • Identify conditions that indicate a heightened risk of fraud.

Chapter 5
Reporting Standards for Performance Audits

At the end of this chapter, the student will be able to:
  • Recognize what must be included and what must be excluded from the audit report.
  • Identify the requirements when reporting on instances of fraud.
Course Contents :

Chapter 1: 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 1 Review Questions

Chapter 2: 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 2 Review Questions

Chapter 3: Standards for Financial Audits

Objectives

Additional GAGAS Requirements for Conducting Financial Audits

Compliance with Standards

Licensing and Certification

Auditor Communication

Results of Previous Engagements

Investigations or Legal Proceedings

Noncompliance

Findings

Audit Documentation

Availability of Individuals and Documentation

Additional GAGAS Requirements for Reporting on Financial Audits

Reporting the Auditorsí Compliance with GAGAS

Reporting on Internal Control; Compliance with Provisions of Laws, Regulations, Contracts, and Grant Agreements; and Instances of Fraud

Presenting Findings in the Audit Report

Reporting Findings Directly to Parties outside the Audited Entity

Obtaining and Reporting the Views of Responsible Officials

Reporting Confidential or Sensitive Information

Distributing Reports

Chapter Summary: Standards for Financial Audits

Chapter 3 Review Questions

Chapter 4: Fieldwork Standards for Performance Audits

Objectives

Performance Audits

Planning

Auditor Communication

Investigations or Legal Proceedings

Results of Previous Engagements

Assigning Auditors

Preparing a Written Audit Plan

Conducting the Engagement

Nature and Profile of the Program and User Needs

Determining Significance and Obtaining an Understanding of Internal Control

Assessing Internal Control

Internal Control Deficiencies Considerations

Information Systems Controls Considerations

Provisions of Laws, Regulations, Contracts, and Grant Agreements

Fraud

Identifying Sources of Evidence and the Amount and Type of Evidence Required

Using the Work of Others

Supervision

Evidence

Overall Assessment of Evidence

Findings

Audit Documentation

Availability of Individuals and Documentation

Figure 4: Consideration of Internal Control in a Generally Accepted Government Auditing Standards Performance Audit

Chapter Summary: Fieldwork Standards for Performance

Audits

Chapter 4 Review Questions

Chapter 5: Reporting Standards for Performance Audits

Objectives

Performance Audits

Reporting Auditorsí Compliance with GAGAS

Report Format

Report Content

Reporting Findings, Conclusions, and Recommendations

Reporting on Internal Control

Reporting on Noncompliance with Provisions of Laws, Regulations, Contracts, and Grant Agreements

Reporting on Instances of Fraud

Reporting Findings Directly to Parties outside the Audited Entity

Obtaining the Views of Responsible Officials

Report Distribution

Reporting Confidential or Sensitive Information

Discovery of Insufficient Evidence after Report Release

Chapter Summary: Reporting Standards for Performance Audits

Chapter 5 Review Questions

Glossary

CPE Accounting (Governmental) Course: https://www.cpethink.com/yellow-book-auditing
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