You need 80 hours of classes enhancing your professional proficiency and 24 hour related to the specialized areas of your clients. Cpe stands for continuing professional education, by the way. 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. Governmental auditing, these learning resources are designed to help cpas understand the knowledge and skills necessary to perform highquality single audits, yellow book audits, and audits of state and local government financial statements. Auditors performing work under gagas need to complete 80 hours of cpe every. Resources include the most uptodate information on the uniform guidance and recent gasb. Thoroughly understand the requirements of the new yellow book and how they relate to the aicpa and single audit requirements. The gaos yellow book, government auditing standards, lays down certain cpe requirements. 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. 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. Auditors of federal, state, and local government programs use these standards to perform their audits and produce their reports. Identify the guidance found in government auditing standards gas, 2018 revision. In this course, we will cover the audit requirements that exceed aicpa standards in the gao s yellow b. The government accountability office recently released a new version of government auditing standards, also known as the yellow book.
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. Illumeo offers many courses on government accounting gagasyellow book and offers hundreds of courses with qualifying cgfm cpe courses. Why are my auditors doing a yellow book and single audit. Auditors performing work under gagas, including planning. The gao does not want auditors claiming that they performed an audit according to standards if they havent met yellow book cpe.
Impact of the 2018 yellow book on your audit function. Recognize the requirements found in the 2018 government auditing standards yellow book. Guidance on gagas requirements for continuing professional education and government auditing standards. 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. Therefore, each auditor performing work under gagas. There is no formal preapproval process for the mncpa or any other sponsor to qualify a course for yellow book credit. Recognize the additional gagas reporting requirements for financial audits. 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. The exposure draft includes proposed updates from continuing professional education cpe requirements to fieldwork and reporting. Discuss the relationship between gas and other professional standards, and yellow book guidance regarding independence. Resources include the most uptodate information on the uniform. Recognize the additional reporting requirements for financial audits. 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.
Auditors engaged in gagas engagements must comply with the government accountability office gao yellow book continuing education requirements. However, if an internal specialist performs engagement procedures on a yellow book client, they are subject to gagas cpe requirements. Government auditing standards, commonly known as the yellow book. 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. 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.
We offer our governmental cpe courses in either live webinar, ondemand webcast or selfstudy format. Now the single audit requirements are catching up and emphasizing important gao concepts including. Qualifies for yellow book cpe credit the gaos yellow book standards set a high bar for government performance auditors. Standards, often referred to as the yellow book or. 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. Because government accounting hews to a somewhat different set of rules than u. Cpe in their area of specialization does count to the 24hour requirement. Effective government accounting training courses and cpe. Yellow book cpe requirements a summary cpa hall talk. 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. 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. Cpe requirements prescribed by the government auditing standards. Government auditors and public accountants that will be planning or conducting engagements in accordance with government auditing standards, 2018 revision yellow book. 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.
This short course focuses on the requirements of the yellow book that challenge government performance auditors including the cpe, independence, and reporting requirements. 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. The revised version has been reorganized and realigned with the aim of making it easier for professionals to find relevant rules. Yellow book cpe requirements a recap of the special cpe rules.
Government accounting gagasyellow book training and cpe. This section of the aicpas governmental audit quality center gaqc web site is. Government auditing standards yellow book practice aids and. Get all your yellow book auditing cpe requirements for cpas in one convenient location, right here on. Cpe requirements for the yellow book the gaos yellow book, government auditing standards, lays down certain cpe requirements. Gao issues revised yellow book standards for government. 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. 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. Surgents selfstudy yellow book package cpe for cpas. Hear about the new yellow book requirements for financial statement audits, attestation engagements, and performance audits. 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. 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. Government auditing standards yellow book practice aids.
A summary of the changes to the single audit requirements. Government accountability offices generally accepted government auditing standards yellow book. This course will identify the general planning requirements for an audit. Qualifies for yellow book cpe credit the 2018 revision is full of changes for performance auditors. 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. 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. One of the toughest aspects of doing a yellow book audit is complying with the yellow book cpe requirements. The cpe is expected to last two hours in the morning. Identify the additional requirements for performing a financial statement audit under government auditing standards. 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. One of the areas that received particular attention was related to cpe for audit specialists. Presumptively mandatory requirements auditor must comply. Our governmental cpe courses are written by nationally known authors and cover a wide range of governmental topics.
Cpe requirements mississippi society of certified public. At least 80 hours of acceptable cpe every two years with a minimum of 20 hours each year. Yellow book financial audits maryland association of. Effective with the implementation dates for the 2018 revision of the yellow book, the gao is retiring government auditing standards. Yellow book auditing cpe for cpas yellow book courses. 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 2018 yellow book goes into effect for financial audits, attestation. 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. And the requirements are a little bit involved so involved that the gao dedicated 17 pages.
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. 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. Identify the revised requirements and guidance related to independence in the 2018 revision of the yellow book. The 2018 yellow book s internal control requirements for performance auditors. Identify the types of engagements that are performed under government auditing standards. Yellow book continuing education requirements are governed by the u.
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