2026 Governmental Auditing Standards

Description

The Generally Accepted Governmental Auditing Standards, also known as the Yellow Book, provides a comprehensive framework for conducting governmental audits with a focus on high quality, integrity, competence, independence, and objectivity. The Yellow Book is used by auditors of government organizations, entities that receive government awards, and any other audit organization performing Yellow Book audits. The Yellow Book outlines all requirements for governmental audit reports, professional qualifications for auditors, and audit organization quality management.
This course will describe when the Yellow Book standards must be applied. This course will identify the types of auditors and audit organizations that may employ GAGAS to conduct their work. This course will identify the categories of requirements that GAGAS uses to describe the degree of responsibility imposed on auditors and audit organizations. This course will identify the ethical principles that guide the work of auditors who conduct engagements in accordance with GAGAS. This course will identify the individuals that have a role on an audit engagement. This course will Recognize the methods for selecting individuals of integrity who have the capacity to develop the competence and capabilities necessary to perform the audit organization’s work competently. This course will identify the requirements for auditor communication. This course will identify the three levels of service as identified by the AICPA. This course will identify the general planning requirements for an audit that must comply with all of the applicable requirements for a review of financial statements conducted in accordance with GAGAS. Finally, this course will describe what must be included and what must be excluded from an audit report.

Learning Objectives
Chapter 1: Foundation and Principles for the Use and Application of Government Auditing Standards
• Identify the types of auditors and audit organizations that may employ GAGAS to conduct their work,
• Recognize the types of engagements that may be conducted in accordance with GAGAS, and
• Identify terminology that is commonly used in GAGAS.
Chapter 2: General Requirements for Complying with Government Auditing Standards
• Identify the categories of requirements that GAGAS uses to describe the degree of responsibility imposed on auditors and audit organization.
Chapter 3: Ethics, Independence, and Professional Judgment
• Identify the ethical principles that guide the work of auditors who conduct engagements in accordance with GAGAS.
• Recognize the purpose of applying the GAGAS Conceptual Framework.
• Recognize that action that must be taken by auditors if they conclude that the independence of the engagement team or the audit organization is impaired.
Chapter 4: Competence and Continuing Professional Education
• Identify the individuals that have a role on an audit engagement.
• Identify the number of CPE hours that must be completed in a 2-year period in order to maintain their professional competence.
• Recognize the requirements related to specialists using during an audit.
Chapter 5: Quality Management, Engagement, Quality Reviews, and Peer Review
• Recognized the methods for selecting individuals of integrity who have the capacity to develop the competence and capabilities necessary to perform the audit organization’s work competently.
• Identify when audit organization needs to obtain specialized or technical expertise from external providers.
• Identify the requirements for engagement supervision.
Chapter 6: Standards for Financial Audits
• Identify the requirements for auditor communication.
• Recognize the items that an auditor should include in a report on internal control and compliance.
• Identify what an auditor must do if certain information is prohibited from public disclosure or is excluded from a report because of its confidential or sensitive nature.
• Recognize what an auditor must do when Obtaining and Reporting the Views of Responsible Officials.
Chapter 7: Standards for Attestation Engagements and Reviews of Financial Statements
• Identify the three levels of service as defined by the AICPA.
• Recognize what an auditor must do related to issues of noncompliance with provisions of laws, regulations, contracts, and grant agreements.
• Identify what should be done by the auditor when the audit complies with all of the applicable requirements for a review of financial statements conducted in accordance with GAGAS.
Chapter 8: Fieldwork Standards for Performance Audits
• Identify the general planning requirements for an audit that must comply with all of the applicable requirements for a review of financial statements conducted in accordance with GAGAS.
• Recognize the five components of internal control.
• Identify conditions that indicate a heightened risk of fraud.
Chapter 9: Reporting Standards for Performance Audits
• Recognize what must be included and what must be excluded from the audit report.
• Identify the requirements when reporting on instances of fraud.

To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate.

A course evaluation form is provided for your feedback, upon course completion. Participants have 1 year from the date of purchase/enrollment to complete this course

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