2018 Yellow Book Part 4: Government Auditing Standards: Quality Control and Peer Review Course 2 CPE

This course covers the generally accepted government auditing standards (GAGAS) requirements and guidance for audit organization quality control and assurance, and for administering, planning, performing for personnel competence as well as how auditors should approach consultations as needed. It also discusses managing the peer review process for audit organizations that conduct engagements in accordance with GAGAS. The course also includes real-world cases and examples to support the learning objectives.

The 2018 revision of the Yellow Book is effective for financial audits, attestation engagements, and reviews of financial statements for periods ending on or after June 30, 2020, and for performance audits beginning on or after July 1, 2019. Early implementation is not permitted.

Prerequisites

No advanced preparation or prerequisites are required for this course. However, it is recommended to take the other courses in the series prior to completing this one.

Learning Objective

• Recognize why auditors who perform engagements under generally accepted government auditing standards (GAGAS or the Yellow Book) are required to maintain high quality control standards and how to do so.
• Identify the steps required to properly perform a consultation on difficult subject matter.
• Identify the types of engagements that can be performed in accordance with generally accepted government auditing standards (GAGAS, or the Yellow Book) including Financial Audits, Attestation Engagements, and Performance Audits

Last updated/reviewed: March 27, 2024