- Credits: 3
- Format: Self-Study eBook
- Field of Study: Auditing
- Author/Speaker: Tax CE Publishing Andrew Clark
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|© March 2021||Basic Understanding of the Auditing Process||Self-Study eBook|
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 control.
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.
After reading the course material, you will be able to:
- 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.
Who Should Attend:
- All Certified Public Accountants (CPAs)