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.