2024 Revision to Government Auditing Standards Impact WEBINAR

Overview

This course will provide an update of Government Auditing Standards as a result of the GAO’s issuance of the 2024 Revision to Government Auditing Standards. The course will focus on the Revisions impact on financial statement audits. The course will also focus on the impact of Quality Management Standards as well as clarify as to when the concept of reporting key audit matters might apply for financial audits.

Highlights

Key changes made by the 2024 Revision to Government Auditing Standards. Review when the GAGAS requirements are applicable to a financial statement audit. When reporting on key audit matters may apply in a GAGAS audit. Clarifications related to the independence requirements in a financial statement audit imposed by the 2024 Yellow Book. Review the impact of the Quality Management Standards to a financial statement audit conducted under the 2024 Revision to Government Auditing Standards. Other important matters contained in the 2024 Government Auditing Standards related to financial statement audits.

Prerequisites

None.

Designed For

Anyone involved in GAGAS (Yellow Book) audits

Objectives

Identify requirements related to audit reporting when the requirements for reporting on key audit matter apply. Recall core concepts fundamental to determining and documenting independence. Recognize supplemental requirements imposed by the 2024 Yellow Book during the performance of a financial statement audit. Recall significant changes made by the 2024 version of Government Auditing Standards. Recognize the impact of the Quality Management Standards to a financial statement audit conducted under the 2024 Revision to Government Auditing Standards.