Government Auditing Standards 2011 Yellow Book

Audits provide essential accountability and transparency over government programs. Given the current challenges facing governments and their programs, the oversight provided through auditing is more critical than ever. Government auditing provides objective analysis and information needed to make decisions necessary to help create a better future. The professional standards presented in this 2011 revision of Government Auditing Standards provides a framework for performing high-quality audit work with competence, integrity, objectivity, and independence to provide accountability and to help improve government operations and services. These standards provide the foundation for government auditors to lead by example in the areas of independence, transparency, accountability, and quality through the audit process.

The 2011 revision of Government Auditing Standards 9780160915529 represents a modernized version of the standards, taking into account recent changes in other auditing standards, including international standards. It contains the following major changes from the 2007 revision that reinforce the principles of transparency and accountability and provide the framework for high quality government audits that add value.

This edition makes this document available to electronic readers. The book contains links to aid with navigation including a linked content page and enabling reader's go to, search and paging features. Each chapter also starts with detailed navigation links. Page numbers from the paper document have been maintained throughout this electronic version to aid with reference.


Contents

Letter

Chapter 1: Government Auditing: Foundation and Ethical Principles

Introduction
Purpose and Applicability of GAGAS
Ethical Principles

Chapter 2 Standards for Use and Application of GAGAS

Introduction
Types of GAGAS Audits and Attestation Engagements
Use of Terminology to Define GAGAS Requirements
Relationship between GAGAS and Other Professional Standards
Stating Compliance with GAGAS in the Auditors’ Report

Chapter 3 General Standards

Introduction
Independence
Professional Judgment
Competence
Quality Control and Assurance

Chapter 4 Standards for Financial Audits

Introduction
Additional GAGAS Requirements for Performing Financial Audits
Additional GAGAS Requirements for Reporting on Financial Audits
Additional GAGAS Considerations for Financial Audits

Chapter 5 Standards for Attestation Engagements

Introduction
Examination Engagements
Additional Field Work Requirements for Examination Engagements
Additional GAGAS Reporting Requirements for Examination Engagements
Additional GAGAS Considerations for Examination Engagements
Additional GAGAS Field Work Requirements for Review Engagements
Additional GAGAS Reporting Requirements for Review Engagements
Additional GAGAS Considerations for Review Engagements
Agreed-Upon Procedures Engagements
Additional GAGAS Field Work Requirements for Agreed-Upon Procedures Engagements
Additional GAGAS Reporting Requirements for Agreed-Upon Procedures Engagements
Additional GAGAS Considerations for Agreed-Upon Procedures Engagements

Chapter 6 Field Work Standards for Performance Audits

Introduction
Reasonable Assurance
Significance in a Performance Audit
Audit Risk
Planning
Supervision
Obtaining Sufficient, Appropriate Evidence
Audit Documentation

Chapter 7 Reporting Standards for Performance Audits

Introduction
Reporting
Report Contents
Distributing Reports

Appendixes
Index