An Introduction to Yellow Book Standards

The Yellow Book was significantly revised in early 2007. The GAO's standards are currently the most stringent auditing standards on continuing education, independence, and quality control review.

The GAO created the Yellow Book to guide auditors of federal programs. Single Audits (audits conducted under A-133 requirements) must adhere to Yellow Book standards. And many internal auditors in government agencies are required to comply with these standards.

The Yellow Book standards encompass performance audits, financial audits, and attestation engagements.

Major topics include:

• Audit plans
• Working papers
• Audit supervision
• Reports
• Continuing professional education
• Independence
• Professional conduct

Objectives:

• Select the standards that apply to your engagement
• Define requirements for peer review and quality control
• Use the elements of a finding to flesh out an audit issue
• Differentiate between types of audits
• Recognize when the yellow book is applicable

Who should attend: Auditors and monitors

Program level: Intermediate

Prerequisites: More than one year of auditing experience

Delivery method: Group live

Recommended CPE credit: 8 hours