Auditors hired or initially assigned to yellow book assignments after the beginning of the audit organizations 2year cpe period should complete a prorated number of cpe hours see gaos guidance on gagas requirements for continuing professional education. The government accountability office recently released a new version of government auditing standards, also known as the yellow book. The different types of yellow book audit and attestation engagements that auditors may be called upon to perform the yellow book standards related to the qualifications of the auditor i. Identify the three subjects of a single audit compare the requirements of the aicpa, the gao, and uniform administrative requirements, cost principles, and audit requirements for federal awards define significant requirements of the yellow book order the levels of materiality on a single audit chapter 1 single audits are different. Presumptively mandatory requirements auditor must comply.
Effective government accounting training courses and cpe. Government auditors and public accountants that will be planning or conducting engagements in accordance with government auditing standards, 2018 revision yellow book. Yellow book cpe requirements a recap of the special cpe rules. This webinar will highlight the new format of the 2018 yellow book, provide a quick refresher on some of the key aspects of the yellow book and dive into some of the critical changes and clarifications made by the 2018 yellow book impacting internal auditors including independence with a specific focus on impact to internal audit and inspector general shops. This free cpe webinar on government auditing standards is an excellent baseline of information for accountants to gain an understanding of the new yellow book. The exposure draft includes proposed updates from continuing professional education cpe requirements to fieldwork and reporting.
Identify the additional requirements for performing a financial statement audit under government auditing standards. Cpe requirements mississippi society of certified public. Standards, often referred to as the yellow book or. Government accounting gagasyellow book training and cpe. Government accountability offices generally accepted government auditing standards yellow book. The yellow book provides standards and guidance for auditors and audit organizations, outlining the requirements for audit reports, professional qualifications for auditors, and audit organization quality control. Because government accounting hews to a somewhat different set of rules than u. The revised version has been reorganized and realigned with the aim of making it easier for professionals to find relevant rules when performing research.
The gaos yellow book, government auditing standards, lays down certain cpe requirements. A summary of the changes to the single audit requirements. Thoroughly understand the requirements of the new yellow book and how they relate to the aicpa and single audit requirements. Identify the revised requirements and guidance related to independence in the 2018 revision of the yellow book. Gao issues revised yellow book standards for government. Gaap and ifrs, and a strong technical understanding is critical to getting it all. Auditors of federal, state, and local government programs use these standards to perform their audits and produce their reports. One of the areas that received particular attention was related to cpe for audit specialists. Auditors performing work under gagas, including planning. Cpe in their area of specialization does count to the 24hour requirement. Hear about the new yellow book requirements for financial statement audits, attestation engagements, and performance audits. Gao yellow book requirements each auditor performing work under gagas should complete every two years at least 80 hours of cpe that directly enhance the auditors professional proficiency to perform audits andor attestation engagements. This section of the aicpas governmental audit quality center gaqc web site is.
And the requirements are a little bit involved so involved that the gao dedicated 17 pages. Recognize the additional reporting requirements for financial audits. Qualifies for yellow book cpe credit the 2018 revision is full of changes for performance auditors. This short course focuses on the requirements of the yellow book that challenge government performance auditors including the cpe, independence, and reporting requirements. Today most cpas and governmental auditors are on the go and cant always wait to take their required yellow book cpe courses to maintain their license. Identify the yellow book requirements for financial statement audits, attestation engagements, and performance audits. Recognize the requirements found in the 2018 government auditing standards yellow book. Professional resources single audit and yellow book resource guide for nysscpa members assembled here are a variety of resources to assist nysscpa members in performing quality audits in the challenging governmental audit arena. Cpe requirements for the yellow book the gaos yellow book, government auditing standards, lays down certain cpe requirements. Guidance on gagas requirements for continuing professional education and government auditing standards.
Auditors performing work under the gaos government auditing standards are required to complete, every two years, 24 hours of cpe in subjects directly related to government auditing, the government environment, or the specific or unique environment in which the audited. In this course, we will cover the audit requirements that exceed aicpa standards in the gao s yellow b. The gaos yellow book or gagas generally accepted government auditing standards has been revised several times since the last time the single audit requirements were revised. The 2018 yellow book goes into effect for financial audits, attestation. The course goes over the general, field work, and reporting standards for both financial audits and attestation engagements conducted in accordance with generally accepted government auditing standards gagas. Our governmental cpe courses are written by nationally known authors and cover a wide range of governmental topics. The gao does not want auditors claiming that they performed an audit according to standards if they havent met yellow book cpe. At least 80 hours of acceptable cpe every two years with a minimum of 20 hours each year. Yellow book auditing cpe for cpas yellow book courses. Discuss the relationship between gas and other professional standards, and yellow book guidance regarding independence. Government auditing standards yellow book practice aids and. Recall the concepts and guidance found in the yellow book. However, if an internal specialist performs engagement procedures on a yellow book client, they are subject to gagas cpe requirements.
One yellow book hour 50 minutes equivalent to a cpe hour. Identify the guidance found in government auditing standards gas, 2018 revision. Auditors performing work under gagas, including planning, directing, performing field work, or reporting on an audit or attestation engagement under gagas, should maintain their professional competence through continuing professional education cpe. If you are an auditor performing yellow book audits, it is essential you understand the recently revised concepts and standards of generally accepted government auditing standards gagas. Now the single audit requirements are catching up and emphasizing important gao concepts including. Government auditing standards yellow book practice aids.
Surgents selfstudy yellow book package cpe for cpas. We offer our governmental cpe courses in either live webinar, ondemand webcast or selfstudy format. Through a case studyintense, highly interactive, classroom environment, this cpe course provides you with the tools necessary to go beyond the theory and create valueadded services for your clients. Impact of the 2018 yellow book on your audit function. Resources include the most uptodate information on the uniform. Key changes that will result from the 2018 revision to government auditing standards also referred to as gagas or the yellow book effective date considerations other 2018 yellow book emphasis areas. Resources include the most uptodate information on the uniform guidance and recent gasb. Yellow book continuing education requirements are governed by the u. Therefore, each auditor performing work under gagas. Government auditing standards, commonly known as the yellow book. The revised version has been reorganized and realigned with the aim of making it easier for professionals to find relevant rules.
The cpe is expected to last two hours in the morning. Auditors engaged in gagas engagements must comply with the government accountability office gao yellow book continuing education requirements. Why are my auditors doing a yellow book and single audit. In april 2017, the government accountability office gao released an exposure draft to update the government auditing standards yellow book. This short webinar focuses on the requirements of the yellow book that challenge government performance auditors including the internal control, cpe, independence, and reporting requirements. The new yellow book requirements related to performing and reporting on financial audits and how those requirements affect the audit in areas like internal control. The generally accepted government auditing standards, also known as the yellow book, provides a framework for conducting highquality audits with competence, integrity, objectivity, and independence. Cpe stands for continuing professional education, by the way. Effective with the implementation dates for the 2018 revision of the yellow book, the gao is retiring government auditing standards. Illumeo offers many courses on government accounting gagasyellow book and offers hundreds of courses with qualifying cgfm cpe courses. The aicpas governmental audit quality center gaqc web site section provide links to practice aids and tools that will assist auditors in understanding the requirements of government auditing standards, issued by the comptroller general of the united states also referred to as the yellow book and gagas. Auditors performing work under gagas need to complete 80 hours of cpe every. There is no formal preapproval process for the mncpa or any other sponsor to qualify a course for yellow book credit.
Identify the additional requirements for performing a financial audit under gagas. One of the toughest aspects of doing a yellow book audit is complying with the yellow book cpe requirements. Recognize the additional gagas reporting requirements for financial audits. This course will identify the general planning requirements for an audit. Auditors performing work under gagas, including planning, directing, performing field work, or reporting on an audit or attestation engagement under gagas, need to maintain their professional competence through. Yellow book cpe requirements a summary cpa hall talk. Identify the types of engagements that are performed under government auditing standards. This course describes the requirements created by the december 2011 revision to the government auditing standards, known as the yellow book.
The yellow book states, determining what subjects are appropriate for individual auditors to satisfy both the 80hour and the 24hour requirements is a matter of professional judgment to be exercised by auditors in consultation with appropriate officials in their audit organizations. The purpose of the red book yellow book comparison is to identify similar principles and key differences between the iias ippf red book and the u. Gao government auditing standards update the new yellow book c h r i s t i n e h a r d e n, m b a, c p a, c g m a f e b r u a r y 5, 2 0 1 9 2 0 1 9 g f o a a 3 5 th a n n u a l c o n f e r e n c e. You need 80 hours of classes enhancing your professional proficiency and 24 hour related to the specialized areas of your clients. The yellow book s standards and guidance for auditors and audit organizations provide critical information for federal, state, and local government programs regarding audit reports, professional qualifications for auditors, and audit organization quality control. Cpe requirements prescribed by the government auditing standards. This document provides guidance to auditors and audit organizations in implementing the continuing professional education cpe requirements prescribed by the government auditing standards yellow book issued by the comptroller general of the united states of the government accountability office gao. Get all your yellow book auditing cpe requirements for cpas in one convenient location, right here on. The 2018 yellow book s internal control requirements for performance auditors. Yellow book financial audits maryland association of.
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