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The Yellow Book Interpreted | Governmental Audits (YB2008)
Course Format: Online  Test Format: Online
Select Your State for Credit Hours
Level: Intermediate
Field of Study(s): Governmental (Auditing)

The Yellow Book Interpreted | Governmental Audits

The Yellow Book Interpreted





Course Description:


Is it time for you to know the Yellow Book – really know it? Let Leita be your guide in this 17-hour course, as she converts the GAO’s Government Auditing Standards into plain English and helps you apply its unique standard and guidance to your audit. This text covers the latest on independence, quality control, and audit planning. All three types of engagements - financial, attestation, and performance - are covered. Whether you are an internal auditor, government monitor, or external auditor, the Yellow Book applies to you.


Learning Objectives:


Upon successful completion of this course, participants will be able to:

·         Differentiate between the Yellow Book
 and other auditing standards

·         Assess whether an engagement requires
 the use of the Yellow Book

·         Distinguish among the three types of
 Yellow Book engagements

·         Employ the conceptual framework in
 evaluating threats to an auditor’s

·         Assess whether an audit team has met
 competency standards

·         Assess whether an audit team has met the Yellow Book requirements regarding
 quality control and peer review

·         Differentiate between GAO and AICPA
 standards regarding financial audits

·         Classify an audit finding as an internal
 control weakness, a violation of contract
 or grant agreements, fraud, or abuse

·         Compare AICPA financial audit
 reporting standards to GAGAS standards

·         Differentiate among the elements of a

·        Identify the steps of planning and
 conducting a performance audit

·         Differentiate between the concepts of
 materiality and significance

·         Identify factors that affect audit risk in a
 performance audit

·        Define the parameters of an audit project:  audit objective, audit scope, and audit methodology

·         Discriminate among management
 control, internal control, and information  technology control terminologies

·        Distinguish among the types of evidence
 and judge their relative strength

·         Distinguish between mandatory and
 optional documentation requirements


Course Number:


NASBA Field of Study:

Auditing (Governmental)




Leita hart-Fanta

Publication Date:

May 16, 2017

CPE Credits:



One or more years experience in auditing

Advanced Preparation: 


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