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Complete Guide to the Yellow Book (YBYB)

Wednesday, November 1, 2017
09:00 AM - 05:00 PM (Eastern)

Charles Blanton, CPA

  • Format Webinar
  • Credits 8
  • Level Basic
  • Field of Study Auditing (Governmental) (8)

Overview

The Yellow Book is a comprehensive document containing general standards, performance standards, and reporting standards for audit and attestation engagements. The purpose of this course is to increase your confidence and proficiency in performing Yellow Book engagements by equipping you with a thorough understanding of the standards. The course materials utilize a highly illustrative and innovative format. Over 20 focused exercises are included to provide an enhanced working knowledge of the Yellow Book.

Major Topics:

  • The purpose and applicability of the Yellow Book (a.k.a., Government Auditing Standards, or GAGAS)
  • The key differences and the relationship between the Yellow Book requirements and the single audit requirements
  • Types of Yellow Book audit and attestation engagements
  • Any current developments regarding the Yellow Book
  • The Yellow Book’s general requirements, including the independence requirements, professional judgment, competence (including CPE), and quality control and assurance (including peer review)
  • The Yellow Book performance standards for financial audits -- including auditor communication; previous audits and attestation engagements; fraud, noncompliance with provisions of laws, regulations, contracts, and grant agreements, and abuse; developing elements of a finding; and audit documentation
  • The Yellow Book reporting standards for financial audits -- including reporting auditor’s compliance with GAGAS; reporting on internal control, compliance with provisions of laws, regulations, contracts, and grant agreements, and other matters; reporting views of responsible officials; reporting confidential or sensitive information; and distributing reports
  • Additional considerations related to Yellow Book financial audits -- materiality, early communication of deficiencies
  • The Yellow Book requirements for attestation engagements (examinations, reviews, and agreed-upon procedures) and performance audits

Learning Objectives

  • Thoroughly understand the requirements of the Yellow Book and how they relate to the AICPA and single audit requirements
  • Excel in the Yellow Book auditing arena
  • Save time on Yellow Book engagements via in-depth knowledge of the requirements

Who should take this course:

Auditors performing Yellow Book engagements

Basic audit knowledge

None

No

No

Yes

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