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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: November 2, 2018

1 Review (3 ratings)Reviews

3
Member's Profile
It seemed very general to someone with any knowledge of the yellow book. The presenter tried to make it interesting.

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 .
Course Syllabus
INTRODUCTION AND OVERVIEW
  10:36Introduction to 2018 Yellow Book Part 1: Government Auditing Standards: Foundation Course
  8:31Yellow Book Engagements
  10:15Financial Audits
  4:30List of Program Effectiveness Objectives
  4:232018 Yellow Book - General Compliance Requirements
  7:12Conclusion
CONTINUOUS PLAY
  45:272018 Yellow Book Part 1: Government Auditing Standards: Foundation Course
SUPPORTING MATERIALS
  PDFSlides: 2018 Yellow Book Part 1
  PDF2018 Yellow Book Part 1 Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM