Government Auditing Standards: Professional Requirements (3 Hrs)

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Course Description

Government Auditing Standards: Professional Requirements

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 describes when the Yellow Book standards must be applied and identifies the types of auditors and audit organizations that may employ GAGAS to conduct their work. There is also discussion of the categories of requirements that GAGAS uses to describe the degree of responsibility imposed on auditors and audit organizations as well as ethical principles that guide the work of auditors who conduct engagements in accordance with GAGAS. Recognizing 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 is also emphasized. Finally, this course will describe what must be included and what must be excluded from an audit report.

Course information

Price: $47


Course No. C010
Format: Online pdf (143 pages).
Instructional Delivery Method: QAS Self-Study
Prerequisites: Basic understanding of the auditing process
Advance Preparation:None
Level: Intermediate
CPE Credit: 3 Hrs.
Field of Study: Auditing (Governmental)
Course expiration:  You have one year from date of purchase to complete the course.
Course Revision Date: December 2019

Objectives

Upon completion of this course, you will be able to:

Introduction: Yellow Book Overview

  • 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 1: General Standards for Complying with Government Auditing Requirements

  • Identify the categories of requirements that GAGAS uses to describe the degree of responsibility imposed on auditors and audit organization.

Chapter 2: Ethics, Independence, and Professional Judgment

  • 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 3: Competence and Continuing Professional Education

  • 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 government auditing requirements related to specialists using during an audit.

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