This course covers the primary reasons why a generally accepted government auditing standards (GAGAS or the Yellow Book) audit is performed, and discusses GAGAS ethical principles.

 

Furthermore, the course describes the types of engagements that may be performed under GAGAS and its relationship to other professional standards.

 

Via the course you will learn why audit, review, and performance engagements are performed under generally accepted government auditing standards (GAGAS or the Yellow Book) and why these audit standards are considered important. You will be shown the most important ethical principles presented in chapter 1 of the Yellow Book including Independence, Objectivity, The Public Interest, and Proper Use of Government Information. And you will be shown the types of engagements that can be performed in accordance with generally accepted government auditing standards (GAGAS or the Yellow Book) including Financial Audits, Attestation Engagements, and Performance Audits

 

The course reviews pertinent technical guidance and uses real-world examples and case studies to reinforce key points along the way.

Learning Objectives
  • Recognize why audit, review, and performance engagements are performed under generally accepted government auditing standards (GAGAS or the Yellow Book) and why these audit standards are considered important
  • Identify the most important ethical principles presented in chapter 1 of the Yellow Book including Independence, Objectivity, The Public Interest, and Proper Use of Government Information
  • Identify the types of engagements that can be performed in accordance with generally accepted government auditing standards (GAGAS or the Yellow Book) including Financial Audits, Attestation Engagements, and Performance Audits
Last updated/reviewed: August 4, 2023
24 Reviews (72 ratings)

Reviews

2
Member's Profile
1) I did not like that instructor just read from the slides with no more explaining. once i realized this i just opened the slides and read them on my own in 15 minutes and took the test and got 100% 2) i took this course because i was trying to figure out if a client needs a yellow book audit and the course description said "Yellow Book 1: This course covers reasons a GAGAS audit is performed" but after reading all slides i still don't know when an entity must perform a yellow book audit. on page 9 of slides it says "when use of gagas is required or voluntarily followed" but no further info was provided. i am disappointed.

5
Anonymous Author
Adam Sanders helped give an overview of a complicated topic. At time, the terminology was confusing as certain points seemed the same as others. However, it is a regulation-heavy topic so that is to be expected. The ethical failure stories helped break up the technical aspects of the topic.

4
Anonymous Author
The course is completely new to me, because I work in the company involved in corporate business. I have to handle some business relationship with government, so it would be helpful to learn some knowledge about GAGAS. Thanks for Mr. Adam' great work.

4
Member's Profile
This lesson provides a good overview of the Yellow Book and Financial Statement Audits, Attestation Audits, and Performance Audits. Good refresher and good for people without extensive Yellow Book experience.

3
Anonymous Author
rather than the examples of fraud, it would have been better to hear about examples of audit results. It would have helped to see examples of materials reviewed and objects given and results obtained

5
Member's Profile
I found this course to be an easy to follow/understand introductory explanation of GAGAS. I would readily recommend it to my coworkers and peers in their pursuit of auditing and CPE qualification.

4
Member's Profile
I enjoyed Mr. Sanders' presentation style, and particularly benefited from his use of examples to illustrate the key learnings. I will look for other presentations by Mr. Sanders.

4
Member's Profile
General overview of Yellow Book Accounting. Pretty basic information for new accountants. Included interesting little tidbits of government ethical failures.

5
Member's Profile
A good overview of GAGAS and US government auditing requirements. If you hold the CGAP, work for an OIG shop, DCAA, etc... this is a good refresher course.

5
Anonymous Author
Very good overview and introduction to the yellow book. This course provided a good foundation to build on as well as being a good refresher course.

3
Member's Profile
Unfortunately the instructor reads directly from the slides in a monotone voice. This is not helpful in meeting the learning objectives at all.

5
Anonymous Author
Generally Accepted Government Auditing Standards has wide role and meaning in Accounting division.

3
Anonymous Author
The material is useful but the instructor is monotone,which makes it difficult to stay engaged.

4
Member's Profile
I learn better when I can read-along with the narration script; providing that would be helpful.

4
Anonymous Author
Information was very dry. Presenter was thorough but too much material presented for 1.0 CPE

5
Anonymous Author
Yellow Book 1 Government Auditing Standards Foundation Course Part 1 excellent course

5
Anonymous Author
A very good course to introduce you to goovernment auditing and the issues involved.

5
Member's Profile
good length. i appreciate hour long classes. all needed content covered

4
Anonymous Author
In view of the recent revisions, this was a good review course.

5
Anonymous Author
Very clear and succinct training on the overview of GAGAS.

4
Member's Profile
Good course. Starts the basic foundations of Yellow Book.

5
Anonymous Author
Good overview. Very basic course but was a good refresh

4
Anonymous Author
nice course for someone unfamiliar with such standards

5
Member's Profile
nice course. i will recommend this to my colleagues.

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 Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Yellow Book 1: Government Auditing Standards: Foundation Course Part 15:40
  Accountability, GAGAS, DOD Ethical Failure, & Yellow Book Terms and Principles9:22
  Public Interest, Integrity, & Objectivity3:53
  Proper Resource of Government Info, DOD Ethical Failure, & High Expectations5:11
  Standards For Use And Application12:23
  Standards For Use And Application Continued..14:09
  Conclusion00:55
CONTINUOUS PLAY
  Yellow Book 1: Government Auditing Standards: Foundation Course Part 151:32
Supporting Materials
  Slides: Yellow Book 1: Government Auditing Standards: Foundation Course Part 1PDF
  Yellow Book 1: Government Auditing Standards: Foundation Course Part 1 Glossary/IndexPDF
  Encyclopedia of Ethical FailurePDF
REVIEW AND TEST
  REVIEW QUESTIONS quiz
 FINAL EXAMexam