Yellow Book: What Can Go Wrong? FLEXCAST

Overview

In Yellow Book: What Can Go Wrong, James Woy reviews the general standards covered under GAS. Special attention will be given to chapters 1-3, focusing on ethics, recent revisions to independence rules, and CPE requirements. You’ll also learn solutions to common problems firms encounter when attempting to interpret GAS.

Highlights

Yellow Book and Other Professional Requirements. Explanatory and Best Practices. Proper Use of Government Information, Resources, and Positions. Government Auditing Standards (Yellow Book). Identification of Significant Threats to Independence. Applying Safeguards to Eliminate or Reduce Threats. What Services You Can’t Perform. Nonaudit Services Requirements. Quality Control and Assurance.

Prerequisites

None.

Designed For

Professionals in Government and Public Accounting.

Objectives

Cite Government Auditing Standards (GAS) and when they apply in financial audits and attestation engagements. Cite the emphasis in the general standards on maintaining and documenting independence, continuing education requirements, and what it means to exercise professional judgment in the GAS environment. Identify common problems auditors have with complying with GAS.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.