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Government Auditing Standards and Professional Requirements - Yellow Book Series (Course Id 1737)

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Author : Andrew Clark, EA
Status : Production
CPE Credits : 3.0
IRS Credits : 0
Price : $26.95
Passing Score : 70%
Course Type: NASBA QAS - Text - Technical - NASBA Registry
Primary Subject-Field Of Study:

Auditing (Governmental) - Auditing (Governmental) for Course Id 1737

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 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. This course will identify the ethical principles that guide the work of auditors who conduct engagements in accordance with GAGAS. This course will identify the individuals that have a role on an audit engagement. This course will Recognize the methods for selecting individuals of integrity who have the capacity to develop the competence and capabilities necessary to perform the audit organization’s work competently. This course will identify the requirements for auditor communication. This course will identify the three levels of service as identified by the AICPA. 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 - 1737

Keywords : Auditing (Governmental), Government, Auditing, Standards, Professional, Requirements, Yellow, Book, Series, cpe, cpa, online course
Learning Objectives :

Chapter 1
2018 Yellow book Overview

At the end of this chapter, the student will be able to:
  • Recognize when the Yellow Book standards must be applied.
  • Identify the new organization and format of the 2018 Yellow Book.
  • Recognize the five areas that changed in the 2018 Yellow Book from the 2011 Yellow Book.

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.
Course Contents :

Chapter 1 - 2018 Yellow book Overview

Objectives

2018 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 Yellow Book

Effective Date

Overview of the 2018 Yellow Book Changes

New Organization and Format

Skill, Knowledge and Expertise Guidance

Independence guidance for Government Audit Organizations

Peer Review

Peer review requirements

Waste and Abuse

Standards for Attestation Engagements and Reviews of Financial Statements

Performance audits: new internal control requirement

Competence and CPE Requirements

Obtaining the 2018 Yellow Book

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 - Ethics, Independence, and Professional Judgment

Objectives

Ethical Principles


The Public Interest

Integrity

Objectivity

Proper Use of Government Information, Resources, and Positions

Professional Behavior

Independence

GAGAS Conceptual Framework Approach to Independence

Provision of Non-audit Services to Audited Entities

Consideration of Specific Non-audit Services

Documentation

Professional Judgment

Figure 1: Generally Accepted Government Auditing Standards Conceptual Framework for Independence

Figure 2: Independence Considerations for Preparing Accounting Records and Financial Statements

Chapter Summary: Ethics, Independence, and Professional Judgment

Chapter 3 Review Questions

Chapter 4 - Competence and Continuing Professional Education

Objectives

Competence

Continuing Professional Education

Chapter Summary: Competence and Continuing Professional Education

Chapter 4 Review Questions

Glossary

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