Hot off the press! A comprehensive review of the February 2024 version of the U.S. Government Accountability Office’s Government Auditing Standards, otherwise known as “the Yellow Book.” The standard affects all auditors who perform audits of government and nonprofit organizations who receive federal funds, or where application of GAO standards is required by law, regulation or contract. It does not address the standards applicable to performance audits.
Specific topics covered:
- Introduction
- Foundation and principles
- General requirements for complying with Government Auditing Standards
- Ethics, independence and professional judgment
- Competence and continuing professional education
- Quality management, engagement quality reviews and peer review
- Standards for financial audits
- Standards for attestation engagements and reviews of financial statements