A Comprehensive Guide to the New Yellow Book is brought to you by Lorman
Learn about the “generally accepted government auditing standards” (GAGAS) in the Government Accountability Office’s (GAO’s) Yellow Book and what has changed in the 2018 edition.
The federal government regularly reminds its contractors and grantees of the administrative, financial, and other requirements to which they are subject in carrying out federally-supported activities. Such recipients of federal financial assistance, however, are less often aware of the standards that govern auditors tasked with determining an awardee’s compliance with its obligations to the federal government. This topic helps auditees (and auditors alike) to understand the contours of the Yellow Book auditing standards and alerts such individuals to recent changes to those standards. As a result, the information will arm you with the general knowledge necessary both to ensure that the federal audit process moves forward in the manner prescribed by the federal government, and to safeguard auditee rights in the audit process