New Yellow Book

Rebecca Meyer, CPA, CGMA, is President of RAM CPA, PLLC located in Raleigh, NC and is a seasoned CPA and management accountant with more than 22 years of technical finance and leadership expertise in various aspects of attest, accounting and compliance services. Her firm specializes in collaborating with state and local governments, nonprofit organizations, small businesses, regulators, and other CPA firms to provide high quality audit, attest, accounting, finance, and compliance services. Prior to forming her own firm, Ms. Meyer worked for 11 years as a Technical Manager in the AICPA's Professional Ethics Division, where she helped to enforce the AICPA's Code of Professional Conduct by investigating allegations of violations of technical accounting and attest standards, including U.S. Generally Accepted Accounting Principles (GAAP), Generally Accepted Auditing Standards (GAAS), Generally Accepted Government Auditing Standards (GAGAS), Uniform Guidance, ERISA, and others. In this role, she assisted in remediation and education of members to improve the overall quality of professional services performed in the industry. She specializes in government, nonprofit and single audit engagements. She serves on the AICPA's Technical Standards Subcommittee as well as the Government Accounting and Auditing Committee and the Nonprofit Accounting and Auditing Committee of the North Carolina Association of CPAs.

• Chapter 1 1-1Foundation and Principles for the Use and Application of Government Auditing Standards 1-1What is GAGAS? 1-2Brief history of Government Auditing Standards 1-3The 2018 Yellow Book 1-5Acquiring the Government Auditing Standards publication 1-7Why is GAGAS important? 1-8Types of GAGAS users 1-11Types of GAGAS engagements 1-12Terms used in this course and in GAGAS 1-16Chapter 2 2-1General Requirements for Complying with Government Auditing Standards 2-1Introduction 2-2Complying with GAGAS 2-3Relationship between GAGAS and other professional standards 2-5Stating auditor compliance with GAGAS in the audit report 2-7Chapter 3 3-1Ethics, Independence, and Professional Judgment 3-1Introduction 3-2Ethical principles 3-3Independence 3-6GAGAS conceptual framework approach to independence 3-8Providing nonaudit services to audited entities 3-19Consideration of specific nonaudit services 3-24Considerations regarding independence — Governments 3-30Documentation of independence considerations 3-34Professional judgment 3-35Chapter 4 4-1Competence and Continuing Professional Education 4-1Introduction 4-2Competence 4-3Continuing professional education 4-7Chapter 5 5-1Quality Control and Peer Review 5-1Introduction 5-2Quality control and assurance 5-3External peer review 5-16External peer review — Peer review teams 5-21Chapter 6 6-1Standards for Financial Audits 6-1Introduction 6-2Additional GAGAS requirements for conducting financial audits 6-3Practice exercise 6-10Additional GAGAS requirements for reporting on financial audits 6-13Case study 6-21Chapter 7 7-1Standards for Attestation Engagements and Reviews of Financial Statements 7-1Introduction 7-2Examination engagements 7-5Attest review and agreed-upon procedures engagements 7-20Review of financial statement engagements 7-21Chapter 8 8-1Fieldwork Standards for Performance Audits 8-1Introduction 8-2Planning 8-4Conducting the engagement 8-10Supervision 8-20Evidence 8-21Audit documentation 8-24Chapter 9 9-1Reporting Standards for Performance Audits 9-1Reporting on auditors’ compliance with GAGAS 9-3Report format 9-4Report content 9-5Obtaining the views of responsible officials 9-14Report distribution 9-15Reporting confidential or sensitive information 9-16Discovery of insufficient evidence after report release 9-17Glossary Glossary 1Index Index 1Solutions Solutions 1Chapter 1 Solutions 1Chapter 2 Solutions 1Chapter 3 Solutions 2Chapter 4 Solutions 6Chapter 5 Solutions 11Chapter 6 Solutions 12Chapter 7 Solutions 15Chapter 8 Solutions 16Chapter 9 Solutions 17