Government Auditing Standards and Performing Audits
The Generally Accepted Governmental Auditing Standards, also known as the Yellow Book, provides a comprehensive framework for conducting governmental performance 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.
Course information
Price: $67
Course No. C009
Format: Online pdf (180 pages).
Instructional Delivery Method: QAS Self-Study
Prerequisites: Basic understanding of the auditing process
Advance Preparation:None
Level: Intermediate
CPE Credit: 5 Hrs.
Field of Study: Auditing (Governmental)
Course expiration: You have one year from date of purchase to complete the course.
Course Revision Date: March 2022
Objectives
Upon completion of this course, you will be able to:
Chapter 1: Foundation and Principles for the Use and Application of Government Auditing Standards
- Identify the types of auditors and audit organizations that may employ GAGASto 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
- 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
- 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
- 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
- Recognize what must be included and what must be excluded from the audit report.
- Identify the requirements when reporting on instances of fraud.
