The Yellow Book Explained ON DEMAND
Available Until
Your Desk
4.0 Credits
Member Price $116.00
Non-Member Price $133.00
Overview
The 2024 Yellow Book contains the latest version of generally accepted government auditing standards (GAGAS). The contents of the Yellow Book may seem incomprehensible for someone not familiar with government auditing. In this course, we convert every aspect of the standards into plain English, so you can better understand how to apply them to an audit. The course covers all aspects of GAGAS, including auditor independence, quality control, fieldwork standards, and reporting standards. This course is useful for both internal and external auditors who work with government entities.
Highlights
Types of audit engagements. The nature of GAGAS requirements. Ethics, independence, and professional judgement. Competence. Quality control and peer review. Standards for financial audits. Compliance with GAGAS.
Prerequisites
None.
Designed For
Auditors, CPAs, CEOs, and other accounting professionals.
Objectives
Identify the source of the Yellow Book. Specify how generally accepted government auditing standards (GAGAS) treat the concepts of must and should. Describe how to enforce a high level of ethical standards. Identify the composition of the independence concept. Specify how the independence of an auditor can be impacted in a GAGAS audit. Identify the activities associated with the exercise of professional skepticism. Recall who is responsible for the continuing education requirements of an auditor. Specify the continuing professional education requirements for a GAGAS auditor. Describe the components of an audit organization’s quality management system. Specify how quality management risk assessments are supposed to be conducted. Specify the reporting requirements associated with an audit of financial statements. Recall which standards are incorporated by reference into GAGAS. Recall the service levels at which an attestation engagement can be delivered. Specify how audit risk can be reduced. Identify the indicators of an increased risk of fraud. Recall the circumstances under which noncompliance issues must be reported to third parties.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $133.00
Member Price $116.00