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| Author : | Andrew Clark, EA |
| Course Length : | Pages: 61 ||| Word Count: 25,097 ||| Review Questions: 10 ||| Final Exam Questions: 15 |
| CPE Credits : | 3.0 |
| IRS Credits : | 0 |
| Price : | $26.95 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - NASBA Registry |
| Technical Designation: | Technical |
| Primary Subject-Field Of Study: | Auditing (Governmental) - Auditing (Governmental) for Course Id 2602 |
| Overview : |
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| 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 requirements for auditor communication. Finally, this course will identify the three levels of service as identified by the AICPA. |
| Usage Rank : | 20000 |
| Release : | 2025 |
| Version : | 1.0 |
| Prerequisites : | Basic understanding of the auditing process. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Additional Links : |
Internal: Foundations of Government Auditing Standards course
Internal: Financial Audits & Attestation Standards course
External: U.S. GAO Yellow Book Government Auditing Standards
External: U.S. GAO blog on Updating Government Auditing Standards—The 2024 Yellow Book
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| Advance Preparation : | None. |
| Delivery Method : | QAS Self Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 19-Aug-2025 |
| 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 - NASBA Registry - 2602 |
| Keywords : | Auditing (Governmental), Standards, Financial, Audits, Attestation, Engagements, Review, Financial, Statements, Yellow, Book, Series, cpe, cpa, online course |
| Learning Objectives : |
Chapter 1
Chapter 2
Chapter 3
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| Course Contents : | 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: Standards for Financial Audits Objectives Additional GAGAS Requirements for Conducting Financial Audits Licensing and Certification Noncompliance with Provisions of Laws, Regulations, Contracts, and Grant Agreements Findings Audit Documentation Availability of Individuals and Documentation Additional GAGAS Requirements for Reporting on Financial Audits 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 2 Review Questions Chapter 3: Standards for Attestation Engagements and Reviews of Financial Statements Objectives Examination Engagements Compliance with Standards Licensing and Certification Auditor Communication Results of Previous Engagements Investigations or Legal Proceedings Noncompliance with Provisions of Laws, Regulations, Contracts, and Grant Agreements Findings Examination Engagement Documentation Availability of Individuals and Documentation Reporting the Auditors’ Compliance with GAGAS Reporting Deficiencies in Internal Control Reporting on Noncompliance with Provisions of Laws, Regulations, Contracts, and Grant Agreements or Instances of Fraud Presenting Findings in the 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 Review Engagements Compliance with Standards Licensing and Certification Noncompliance with Provisions of Laws, Regulations, Contracts, and Grant Agreements Reporting Auditors’ Compliance with GAGAS Distributing Reports Agreed-Upon Procedures Engagements Compliance with Standards Licensing and Certification Noncompliance with Provisions of Laws, Regulations, Contracts, and Grant Agreements Reporting Auditors’ Compliance with GAGAS Distributing Reports Reviews of Financial Statements Compliance with Standards Licensing and Certification Noncompliance with Provisions of Laws, Regulations, Contracts, and Grant Agreements Reporting Auditors’ Compliance with GAGAS Distributing Reports Chapter Summary: Standards for Attestation Engagements and Reviews of Financial Statements Chapter 3 Review Questions Glossary |
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