Overview
The new Yellow Book is effective for audits of financial statements for periods ending on or after June 30, 2020! This course not only explains the new financial auditing standards, it also prepares you to excel in implementing the new Yellow Book. Learn precisely what the new Yellow Book does and does not require auditors to do. The course materials utilize a highly illustrative and innovative format. Over 15 focused exercises are included to provide an enhanced knowledge of the new Yellow Book.
Major Topics:
- Critical concepts related to applying the new Yellow Book including when the standards are applicable; the types of engagements involved; and the relationship between the Yellow Book and other standards
- The new Yellow Book standards related to ethics; independence; professional judgment; competence and CPE; quality control; and peer review
- 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
Learning Objectives
- Thoroughly understand the requirements of the new Yellow Book and how they relate to the AICPA and single audit requirements
- Prepare to implement the new Yellow Book in an effective and efficient manner
- Save time by understanding what the new Yellow Book does and does not require auditors to do
Designed for:
Auditors performing Yellow Book engagements
Prerequisite:
Basic audit knowledge
Advanced Preparation:
None