Yellow book audit requirements cpe

The yellow book cpe requirement requires that auditors who perform work in government auditing, the government environment, or the specific or unique environment in which the audited entity operates must complete 24 hours specific to government auditing and the environment. Cpe stands for continuing professional education, by the way. Gao government auditing standards update the new yellow book c h r i s t i n e h a r d e n, m b a, c p a, c g m a f e b r u a r y 5, 2 0 1 9 2 0 1 9 g f o a a 3 5 th a n n u a l c o n f e r e n c e. What are the requirements for yellow book continuing professional education cpe. The 2018 yellow book goes into effect for financial audits, attestation.

This document provides guidance to auditors and audit organizations in implementing the continuing professional education cpe requirements prescribed by the government auditing standards yellow book issued by the comptroller general of the united states of. The generally accepted government auditing standards, also known as the yellow book, provides a framework for conducting highquality audits with competence, integrity, objectivity, and independence. Standards, often referred to as the yellow book or. Auditors should, however, consider the independence provisions of the 2018 yellow book prior to the effective date, as auditors performing nonaudit services for a financial statement audit will need to comply with the new independence requirements at the beginning of the audit period and be independent for the entire period that the financial statements relate to when performing audits for.

Yellow book continuing education requirements are governed by the u. The mncpa offers yellow book credit for select seminars and conferences. Auditors performing work under gagas, including planning. Yellow book cpe requirements a summary cpa hall talk. The cpe requirements apply to external auditors and internal auditors, both.

Yellow book continuing professional education cpe auditors performing work under gagas need to complete 80 hours of cpe every two years with a minimum of 20 hours each year. Auditors performing work under the gaos government auditing standards are. The yellow book provides standards and guidance for auditors and audit organizations, outlining the requirements for audit reports, professional qualifications for auditors, and audit organization quality control. One yellow book hour 50 minutes equivalent to a cpe hour.

Accepted government auditing standards performance audit 193. The 2018 yellow book s internal control requirements for performance auditors. Auditors performing work under gagas need to complete 80 hours of cpe every. A complete guide to the new yellow book x1cgyb202001. Additional requirements for audit organizations not affiliated with recognized organizations 102. Those who were following the yellow book exposure draft should be aware that the proposed requirement to take four hours of gasspecific cpe was not included in the finalized 2018 yellow book. The gaos yellow book, government auditing standards, lays down certain cpe requirements.

And the requirements are a little bit involved so involved that the gao dedicated 17 pages. Cpe requirements prescribed by the government auditing standards. This section of the aicpas governmental audit quality center gaqc web site is. The courses below will introduce the yellow book and allow you to understand concepts relating to government frauds. There is no formal preapproval process for the mncpa or any other sponsor to qualify a course for yellow book credit. Below we will address 1 who is subject to the yellow book cpe requirements and 2 what cpe classes satisfy those requirements. The gao does not want auditors claiming that they performed an audit according to standards if they havent met yellow book cpe. Government auditing standards yellow book practice aids. Previous post yellow book cpe requirements a summary next post gasb 63 and 65 deferred outflows and deferred inflows a summary. Thoroughly understand the requirements of the new yellow book and how they. Government auditing standards yellow book practice aids and.