The Yellow Book can be used by auditors of federal federal government entities, entities that get federal government honors, as well as other review organizations doing yellowish Book audits. It describes what’s needed for review reports, expert skills for auditors, and review company quality control. Auditors of federal, state, and municipality programs utilize these requirements to do their audits and produce their reports.
The 2018 modification associated with Yellow Book is beneficial for economic audits, attestation engagements, and reviews of economic statements for durations ending on or after June 30, 2020, as well as for performance audits starting on or after July 1, 2019. Early execution just isn’t permitted.
Therefore, what exactly is brand brand new into the 2018 modification? just What advice do we’ve for Yellow Book users? Tune in to our podcast concerning the 2018 Yellow Book to discover
GAGAS Amendments & Interpretive Guidance
At the moment, there are not any amendments or interpretive guidance for the 2018 modification of national Auditing guidelines.
Yellow Book revisions undergo a thorough, deliberative procedure, including general public responses and input through the Comptroller General’s Advisory Council on Government Auditing guidelines. GAO considers all Yellow Book reviews and input through the Comptroller General’s Advisory Council on national Auditing guidelines whenever finalizing revisions to the requirements. Read more in our 2018 Yellow Book news release.