Studying of the most current version of the Yellow Book and reviewing the ADS 591maa which is the “USAID Financial Audit Guide for Foreign Organizations”. These two documents, together, provide the theory and practical guidance for auditors to prepare compliant USAID audit reports.
How the changes may affect your audit planning, execution and reporting
- 2018 Yellow Book Course for US Generally Accepted Government Auditing Standards – Chapter 1 - Foundation and Principles for the Use and Application of Government Auditing Standards. Q&A and Polling Quizzes throughout.
- Yellow Book Chapter 2 – General Requirements for Complying with Government Auditing Standards. Q&A and Polling Quizzes throughout.
- Yellow Book Chapter 3 – Ethics, Independence, and Professional Judgement. Q&A and Polling Quizzes throughout.
- Yellow Book Chapter 4 – Competence and Continuing Professional Education. Q&A and Polling Quizzes throughout.
- Yellow Book Chapter 5 – Quality Control and Peer Review. Q&A and Polling Quizzes throughout.
- Yellow Book Chapter 6 – Standards for Financial Audits. Q&A and Polling Quizzes throughout.
- Yellow Book Chapter 7 – Standards for Attestation Engagements and Reviews of Financial Statements. Q&A and Polling Quizzes throughout.
- Yellow Book Chapter 8 and 9 – Fieldwork Standards for Performance Audits; Reporting Standards for Performance Audit – high level overview of potential applicability to your firm.