This course covers the most recent release of the Government Accountability Office (GAO) Generally Accepted Government Auditing Standards (GAGAS) also known as the 2018 Yellow Book. This section discusses Chapter 1-Foundations and Principles for the Use and Application of Government Auditing Standards and Chapter 2 – General Requirements for Complying with Government Auditing Standards.

The Yellow Book is used by auditors of government entities as well as entities that receive government awards, as well as other audit organizations who choose to perform Yellow Book audits. It outlines the types of users and defines the engagements. It also discusses complying with GAGAS and how to state compliance with GAGAS.

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.

Learning Objectives
  • Recognize the types of Generally Accepted Government Auditing Standards (GAGAS) users including auditors and audited entities
  • Recognize the types of GAGAS engagements including financial audits, attestation engagements and reviews of financial statements, and performance audits
  • Identify the methods of stating compliance with GAGAS in the audit report
Last updated/reviewed: March 11, 2024
21 Reviews (110 ratings)

Reviews

4
Member's Profile
Agree with other reviews, this course is an intro with a lot of concepts. Seems like a lot was read, but with some interaction. As a non-auditor, would have been helpful to have more information on how GAGAS interacts with AICPA, IAASB, and PCAOB and/or in what order or which body controls in a situation over another.
3
Anonymous Author
Lots of detail information presented in this course. However, presentation and slides didn't adequately prepare user to correctly answer exam questions. Review of other resources were required to pass exam.
5
Member's Profile
Overall great course! I do not have any feedback on how to improve the quality of this course. I thought for an intro course to Yellow Book, the basics were covered effectively.
3
Anonymous Author
The course covers a lot of high level material with no examples. It was an okay basic course, but would have preferred more information and actual snapshots of the Yellow Book.
4
Member's Profile
Instructor provided easily understandable information about the Yellow Book. This course is correctly identified as a Foundation Course.
3
Member's Profile
I loathe compliance-driven auditing, but as a government auditor it is important to understand GAGAS and the Yellow Book.
3
Member's Profile
It seemed very general to someone with any knowledge of the yellow book. The presenter tried to make it interesting.
4
Member's Profile
Good foundation course. The instructor was very knowledgeable of the course material and easy to follow.
4
Anonymous Author
Good Introduction to the Yellow Book and GAGAS. Speaker shows good interest in the subject matter.
4
Anonymous Author
The course was good. I would have preferred a bit more examples included in the training session.
5
Anonymous Author
Clearly outlined and gave examples to the effectiveness of objectives for compliance requirements.
5
Member's Profile
Well organized and well presented course and a good pace. Covers all of the fundamentals.
3
Anonymous Author
Course was somewhat boring. Practical examples and illustrations may have been beneficial.
4
Anonymous Author
It's a little dry. Maybe you could add some context instead of just reading the slides.
4
Anonymous Author
Instructor is well-spoken and content is easy to follow. Good introductory course.
4
Anonymous Author
excellent content, but it was an awful lot to take in for a one hour overview.
5
Anonymous Author
This course helped me absorb better than I could have by reading GAGAS alone.
5
Anonymous Author
2018 Yellow Book Part 1: Government Auditing Standards: Foundation Course
5
Anonymous Author
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5
Anonymous Author
Thank you for taking this course. It is meaningful and informative.
4
Anonymous Author
I expected to see the instructor, but this method was ok for me.
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Prerequisites
Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
  Course Overview CPE
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to 2018 Yellow Book Part 1: Government Auditing Standards: Foundation Course10:36
  Yellow Book Engagements8:31
  Financial Audits10:15
  List of Program Effectiveness Objectives4:30
  2018 Yellow Book - General Compliance Requirements4:23
  Conclusion7:12
CONTINUOUS PLAY
  2018 Yellow Book Part 1: Government Auditing Standards: Foundation Course45:27
SUPPORTING MATERIALS
  Slides: 2018 Yellow Book Part 1PDF
  2018 Yellow Book Part 1 Glossary/IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam