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The 2018 Yellow Book Interpreted - Based on the 2018 version of the Government Auditing Standards - Yellow Book Series (Course Id 1545)

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Author : Leita Hart-Fanta, CPA
Status : Production
CPE Credits : 10.0
IRS Credits : 0
Price : $120.00
Passing Score : 70%
NASBA Technical: Yes
Primary Subject-Field Of Study:

Auditing (Governmental) - Auditing (Governmental) for Course Id 1545

Description :

Is it time for you to know the Yellow Book – really know it? Let Leita be your guide, as she converts the GAO’s 2018 Government Auditing Standards into plain English and helps you apply its unique standard and guidance to your audit. This text covers the latest on independence, quality control, and audit planning. All three types of engagements - financial, attestation, and performance - are covered. Whether you are an internal auditor, government monitor, or external auditor, the Yellow Book applies to you.

Usage Rank : 0
Release : 2018
Version : 1.0
Prerequisites : One or more years experience in auditing.
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 : 16-Jul-2019
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 - NASBA Registry - 1545

Keywords : Auditing (Governmental), The, 2018, Yellow, Book, Interpreted, Based, 2018, version, Government, Auditing, Standards, Yellow, Book, Series, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

  • Differentiate between the Yellow Book and other auditing standards
  • Assess whether an engagement requires the use of the Yellow Book
  • Identify the way the Yellow Book is organized
  • Conclude which standards should and must be applied to each type of audit
  • Distinguish among the three types of Yellow Book engagements
  • Distinguish among the three types of attestation engagements
  • Classify your ethical responsibilities in the government environment
  • Apply the conceptual framework in evaluating threats to your independence as an auditor
  • Define professional skepticism per GAO standards
  • Assess whether an audit team has met competency standards
  • Determine whether an audit team has met the Yellow Book requirements regarding quality control and peer review
  • Differentiate between major themes in the Yellow Book and minor themes
  • Classify an audit finding as: an internal control weakness; a violation of contract or grant agreement; fraud; or abuse
  • Define abuse and your responsibility with regard to abuse in the government environment
  • Identify the purpose of the GAOs Green Book.
  • Distinguish between components of internal control.
  • Distinguish between management objectives
  • Choose a finite subject matter on which to apply controls
  • Identify the auditors responsibilities regarding application of the Green Book
  • Classify an audit finding as: an internal control weakness; a violation of contract or grant agreement; fraud; or abuse and waste
  • Differentiate among the elements of a finding
  • Differentiate between the concepts of materiality and significance
  • Identify factors that affect audit risk in a performance audit
  • Define the parameters of an audit project: audit objective, audit scope, and audit methodology
  • Distinguish among the types of information that you should and may gather during the planning phase of a performance audit
  • Distinguish among the types of evidence and judge their relative strength
  • Distinguish between mandatory and optional documentation requirements
  • Identify communication requirements for all types of Yellow Book engagements
  • Identify planning requirements for all types of Yellow Book engagements

Chapter 1
Introduction to the Yellow Book Interpreted

  • Differentiate between the Yellow Book and other auditing standards
  • Assess whether an engagement requires the use of the Yellow Book
  • Identify the way the Yellow Book is organized

    Chapter 2
    Types of Yellow Book Audits

  • Conclude which standards should and must be applied to each type of audit
  • Distinguish among the three types of Yellow Book engagements
  • Distinguish among the three types of attestation engagements

    Chapter 3
    Independence

  • Classify your ethical responsibilities in the government environment
  • Apply the conceptual framework in evaluating threats to your independence as an auditor
  • Define professional skepticism per GAO standards

    Chapter 4
    Competence

  • Assess whether an audit team has met competency standards

    Chapter 5
    Quality Control and Peer Review

  • Assess whether an audit team has met the Yellow Book requirements regarding quality control and peer review

    Chapter 6
    Major and Minor Themes - an Overview

  • Differentiate between major themes in the Yellow Book and minor themes
  • Classify an audit finding as: an internal control weakness; a violation of contract or grant agreement; fraud; or abuse
  • Define abuse and your responsibility with regard to abuse in the government environment

    Chapter 7
    Internal Control Responsibilities and the Green Book

  • Identify the purpose of the GAOs Green Book
  • Distinguish between components of internal control
  • Distinguish between management objectives
  • Choose a finite subject matter on which to apply controls
  • Identify the auditors responsibilities regarding application of the Green Book

    Chapter 8
    Reportable Conditions and the Elements of a Finding

  • Classify an audit finding as: an internal control weakness; a violation of contract or grant agreement; fraud; or abuse and waste
  • Differentiate among the elements of a finding

    Chapter 9
    Audit Planning and Documentation

  • Differentiate between the concepts of materiality and significance
  • Identify factors that affect audit risk in a performance audit
  • Define the parameters of an audit project: audit objective, audit scope, and audit methodology
  • Distinguish among the types of information that you should and may gather during the planning phase of a performance audit
  • Distinguish among the types of evidence and judge their relative strength
  • Distinguish between mandatory and optional documentation requirements

    Chapter 10
    Minor Themes

  • Identify communication requirements for all types of Yellow Book engagements
  • Identify planning requirements for all types of Yellow Book engagements
  • Course Contents :

    Chapter 1: Introduction to the Yellow Book Interpreted

    Why Do They Call It the Yellow Book?

    Why Does the Yellow Book Exist?

    Who Might Use the Yellow Book on an Audit?

    When the AICPA Gets Involved

    The Single Audit Layers

    The Focus of This Manual

    How the Yellow Book Is Organized

    How the Yellow Book Interpreted is Organized

    Chapter 1 Study Questions

    Chapter 2: Types of Yellow Book Audits

    Relationship to Other Standards

    Four Types of Engagements

    Using the Name GAGAS in Vain

    Chapter 2 Study Questions

    Chapter 3: Independence

    All Three Together

    Ethics

    Independence

    Apply the Conceptual Framework

    What Is a Nonaudit Service?

    Chapter 3 Study Questions

    Chapter 4: Competence

    What Does the Team Have to Know?

    CPE Guidance Document Is Now Integrated into the Standards

    Chapter 4 Study Questions

    Chapter 5: Quality Control and Peer Review

    Quality Control and Peer Review Should Suit Your Situation

    Six Elements of a Quality Control System

    Supervision, Reviews, Monitoring, and Inspections

    Peer Reviews

    Chapter 5 Study Questions

    Chapter 6: Major and Minor Themes an Overview

    Chapter 6: Study Questions

    Chapter 7: Internal Control Responsibilities and the Green Book

    The Green Book Describes an Ideal Control Structure

    How are COSO and the Green Book Related?

    The Five Components of Internal Control

    The Top and Side of the Cube: A Little Whine with That Cheese?

    What Does All This Mean for the Auditor?

    Chapter 7: Study Questions

    Chapter 8: Reportable Conditions and the Elements of a Finding

    Our Responsibility Is Limited

    Definitions of the Reportable Conditions

    Findings

    Chapter 8: Study Questions

    Chapter 9: Audit Planning and Documentation

    Why Are the Performance Standards So Long?

    Major Topic #1: Objective, Scope, and Methodology

    Major Topic #2: Risk and Significance

    Major Topic #3 Evidence

    Major Topic #4: Staff Competence

    Major Topic #5: Nature and Profile of the Program

    Major Topic #6: Audit Documentation

    Whats Next?

    Chapter 9 Study Questions

    Chapter 10: Minor Themes

    Minor Theme #1: Licensing and Certification

    Minor Theme #2: Auditor Communication

    Minor Theme #3: Results of Previous Engagements

    Minor Theme #4: Investigations and Legal Proceedings

    Minor Theme #5: Reporting Findings to Outside Parties

    Minor Theme #6: Obtaining Views of Responsible Officials

    Minor Theme #7: Reporting Confidential and Sensitive Information

    Minor Theme #8: Distributing Reports

    Minor Theme #9: Discovery of Insufficient Evidence after the Report Is Issued

    The END

    Chapter 10 Study Question

    Glossary

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