The New Yellow Book: Government Auditing Standards, 2018 Version, Updated

Chapter 1 1-1

Foundation and Principles for the Use and Application of Government Auditing Standards 1-1

What is GAGAS? 1-2

Brief history of Government Auditing Standards 1-3

The 2018 Yellow Book 1-5

Acquiring the Government Auditing Standards publication 1-7

Why is GAGAS important? 1-8

Types of GAGAS users 1-11

Types of GAGAS engagements 1-12

Terms used in this course and in GAGAS 1-16

Chapter 2 2-1

General Requirements for Complying with Government Auditing Standards 2-1

Introduction 2-2

Complying with GAGAS 2-3

Relationship between GAGAS and other professional standards 2-5

Stating auditor compliance with GAGAS in the audit report 2-7

Chapter 3 3-1

Ethics, Independence, and Professional Judgment 3-1

Introduction 3-2

Ethical principles 3-3

Independence 3-6

GAGAS conceptual framework approach to independence 3-8

Providing nonaudit services to audited entities 3-19

Consideration of specific nonaudit services 3-24

Considerations regarding independence — Governments 3-30

Documentation of independence considerations 3-34

Professional judgment 3-35

Chapter 4 4-1

Competence and Continuing Professional Education 4-1

Introduction 4-2

Competence 4-3

Continuing professional education 4-7

Chapter 5 5-1

Quality Control and Peer Review 5-1

Introduction 5-2

Quality control and assurance 5-3

External peer review 5-16

External peer review — Peer review teams 5-21

Chapter 6 6-1

Standards for Financial Audits 6-1

Introduction 6-2

Additional GAGAS requirements for conducting financial audits 6-3

Practice exercise 6-10

Additional GAGAS requirements for reporting on financial audits 6-13

Case study 6-21

Chapter 7 7-1

Standards for Attestation Engagements and Reviews of Financial Statements 7-1

Introduction 7-2

Examination engagements 7-5

Attest review and agreed-upon procedures engagements 7-20

Review of financial statement engagements 7-21

Chapter 8 8-1

Fieldwork Standards for Performance Audits 8-1

Introduction 8-2

Planning 8-4

Conducting the engagement 8-10

Supervision 8-20

Evidence 8-21

Audit documentation 8-24

Chapter 9 9-1

Reporting Standards for Performance Audits 9-1

Reporting on auditors’ compliance with GAGAS 9-3

Report format 9-4

Report content 9-5

Obtaining the views of responsible officials 9-14

Report distribution 9-15

Reporting confidential or sensitive information 9-16

Discovery of insufficient evidence after report release 9-17

Glossary Glossary 1

Index Index 1

Solutions Solutions 1

Chapter 1 Solutions 1

Chapter 2 Solutions 1

Chapter 3 Solutions 2

Chapter 4 Solutions 6

Chapter 5 Solutions 11

Chapter 6 Solutions 12

Chapter 7 Solutions 15

Chapter 8 Solutions 16

Chapter 9 Solutions 17