Overview of the 2024 Yellow Book and Significant Changes - Yellow Book Series (Course Id 2599)

• Who is this course for?
  Anyone needing Continuing Professional Education (CPE).

• What is this course about or what problem does this course solve?
  It provides an overview of the 2024 Yellow Book (Generally Accepted Governmental Auditing Standards), showing when to apply the standards, the new organization and format, and the five key changes from the 2018 version.

• How can the knowledge from this course be used?
  Students can apply it to determine applicability of Yellow Book standards, understand the updated structure and content of the 2024 edition, and grasp the major updates compared to the 2018 edition.

• Why is this course important to a CPA, Accountant, or IRS Enrolled Agent?
  It ensures they’re informed about the latest standards in governmental auditing—critical for compliance, quality audits, and maintaining professional competence in government-related audit roles.

• When is this course relevant or timely?
  Published/revision date is August 8, 2025—making it immediately relevant for understanding the 2024 Yellow Book and preparing for compliance with the new standards as they roll out.

• How is a course like this consumed or used?
  It's delivered via NASBA QAS self-study text, requiring a final exam (5 questions) with a 70% passing score, to be completed within one year of purchase for 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 new organization and format of the 2024 Yellow Book. Finally, this course will recognize the five areas that changed in the 2024 Yellow Book from the 2018 Yellow Book.

NASBA QAS - Text - NASBA Registry - 2599

Course Learning Objectives

• 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 1 - 2024 Yellow Book Overview

Course Learning 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

Glossary