2018 Yellow Book Part 5: Government Auditing Standards: Financial Statement Audit Standards

This course covers guidance for conducting financial audits in accordance with generally accepted government auditing standards (GAGAS) and reporting on them. In this section you will learn about financial audit licensing requirements for auditors, financial audit noncompliance, fraud, abuse issues, internal control reporting, and general reporting requirements. We also discuss reasons a GAGAS financial audit may be performed. The course also includes real-world cases and examples to support the learning objectives.

The 2018 revision of the Yellow Book is effective for financial audits, attestation engagements, and reviews of financial statements for periods ending on or after June 30, 2020, and for performance audits beginning on or after July 1, 2019. Early implementation is not permitted.