IGnet -- Interactive Yellow Book

IGnet Interactive Yellow Book

Government Auditing Standards

The Inspector General Act requires U.S. Government auditors to perform their audits in accordance with standards prescribed by the U.S. General Accounting Office (GAO). The standards are published in a book, Government Auditing Standards, known popularly as The Yellow Book because of the color of its cover. The Yellow Book was first published in 1972 and the most recent revision was issued in 1994.

Government Auditing Standards - 1994 revision
Contents	Index	Foreword
Ch. 1 - Introduction	Ch. 2 - Types of Government Audits	Ch. 3 - General Standards
Ch. 4 - Field Work Standards - Financial Audits	Ch. 5 - Report Standards - Financial Audits	Ch. 6 - Field Work Standards - Performance Audits
Ch. 7 - Reporting Standards - Performance Audits	Adobe Acrobat Version (399kb)	Text Version (180 kb)

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Government Auditing Standards
Contents

Chapter 1 Introduction	Purpose Applicability Accountability Basic Premises Auditors' Responsibilities Procurement of Audit Services
Chapter 2 Types of Government Audits	Purpose Financial Audits Performance Audits Other Activities of an Audit Organization
Chapter 3 General Standards	Purpose Qualifications - Continuing Education Requirements - Staff Qualifications Independence - Personal Impairments - External Impairments - Organizational Independence -- Internal Auditors -- External Auditors Due Professional Care Quality Control
Chapter 4 Field Work Standards for Financial Audits	Purpose Relation to AICPA Standards Planning - Materiality - Audit Follow-Up Irregularities, Illegal Acts, and Other Noncompliance - Auditors Understanding of Irregularities, Laws, Regs - Due Care Concerning Irregularities, Illegal Acts - Noncompliance Other than Illegal Acts Internal Controls - Control Environment - Safeguarding Controls - Controls Over Compliance with Laws, Regulations - Control Risk Assessments Working Papers Financial Related Audits
Chapter 5 Reporting Standards for Financial Audits	Purpose Relation to AICPA Standards Communication with Audit Committees Compliance with GAGAS Compliance with Laws, Regs, Internal Controls - Scope of Compliance and Internal Controls Work - Irregularities, Illegal Acts, Other Noncompliance -- Direct Reporting of Irregularities and Illegal Acts - Deficiencies in Internal Controls Privileged and Confidential Information Report Distribution Financial Related Audits
Chapter 6 Field Work Standards for Performance Audits	Purpose Planning - Significance and User Needs - Understanding the Program - Criteria - Audit Follow-Up - Considering Others' Work - Staff and Other Resources - Written Audit Plan Supervision Compliance with Laws and Regulations - Illegal Acts and Other Noncompliance - Abuse - Obtaining Information - Laws, Regs, Compliance - Limitations of an Audit Management Controls Evidence - Audit Findings - Tests of Evidence - Working Papers
Chapter 7 Reporting Standards for Performance Audits	Purpose Form Timeliness Report Contents - Objectives, Scope, and Methodology - Audit Results - Recommendations - Statement on Auditing Standards - Compliance with Laws and Regulations -- Noncompliance and Abuse -- Direct Reporting of Illegal Acts - Management Controls - Views of Responsible Officials - Noteworthy Accomplishments - Issues Needing Further Study - Privileged and Confidential Information Report Presentation - Complete - Accurate - Objective - Convincing - Clear - Concise Report Distribution

Government Auditing Standards
Index

Abuse	6.35
Activities other than audit	2.10, 3.9
AICPA standards	Relation to GAGAS 1.9, 4.2 - 4.4, 5.2-5.3 Financial related audits 4.39-4.40, 5.36-5.37
Applicability of Standards	1.2-1.8
Cause	6.52
Compliance	Controls over 4.30, 6.31, 6.41 Reporting 5.3, 5.15-5.25, 7.26-7.33 Direct reporting 5.15, 5.21-5.25, 7.26, 7.30-7.33
Conclusions	7.20
Condition	6.50
Continuing education requirements	3.6-3.9
Criteria	6.5, 6.11
Communications with audit committees	5.3, 5.5-5.10
Due professional care	Third general standard 3.26-3.30 Possible irregularities or illegal acts 4.16, 6.33
Economy and efficiency audits	2.7a, 2.8, 6.10, 6.30
Effect	6.51
Evidence	6.5, 6.46-6.65
External quality control review	3.33-3.36
Evidence	Fifth field work standard 6.46-6.65 Data gathered: by Auditees 6.58-6.59 by Auditors 6.57 from Computer Based Systems 6.62 from Third parties 6.60-6.61
Financial related audits	2.4b, 2.5, 4.39-4.40, 5.36-5.37
Financial statement audit	2.4a
Findings	5.19, 6.49-6.52, 7.17-7.19
Follow-up	4.3, 4.10, 5.26, 6.5, 6.12-6.13
Fraud	6.37
Illegal acts	4.4, 4.12, 4.14-4.16, 6.28-6.33
Irregularities
	4.4, 4.12, 4.14-4.16
Independence	3.11-3.25
Internal quality control system	3.32
Internal controls	Compliance with laws and regulations 4.30, 6.41 Control environment 4.23-4.24 Program 6.31 Risk assessments 4.31-4.33 Safeguarding of assets 4.25-4.29, 6.41 Validity and reliability of data 6.41
Internal control reporting	5.26-5.28
Issues needing further study	7.45-7.46
Management controls	6.39-6.45, 7.34-7.37
Materiality	4.4, 4.8-4.9
Methodology	3.28, 6.4, 6.6, 6.20, 6.42
Noncompliance	4.3, 4.13, 4.18-4.20, 6.34
Noteworthy accomplishments	7.43-7.44
Objectives	2.2-2.3, 6.3, 6.6, 6.9-6.10, 6.20, 6.42, 7.10-7.13
Planning	4.6-4.10, 6.2- 6.21 Written audit plan 6.19-6.21
Performance audits	2.6-2.9
Privileged and confidential information	5.29-5.31, 7.47-7.49
Program audited	Planning considerations 6.5 Understanding 6.9
Program audits	2.7b, 2.9, 6.10, 6.30
Procurement of audit services	1.15, 3.36, 4.38, 6.65
Qualifications	3.3-3.10
Quality control	3.31-3.36
Reporting	Compliance with GAGAS 3.29, 5.3, 5.11-5.14, 7.24-7.25 Compliance with laws and regulations 5.3, 5.15-5.25, 7.26-7.33 Report content 7.9-7.49 Distribution 5.3, 5.32-5.35, 7.66-7.69 Financial related audits 5.36-5.37 Form 7.2-7.5 Internal controls 5.3, 5.26-5.28 Management controls 7.34-7.37 Performance audits 7.1-7.69 Status of previous findings and recommendations 4.10, 5.26, 6.12, 7.22
Report presentation	Accurate 7.54-7.56 Clear 7.61 Combined financial statements, compliance, internal control 5.16 Complete 7.51-7.53 Concise 7.64-7.65 Convincing 7.60 Objective 7.57-7.59
Scope	3.28, 6.3, 6.6, 6.20, 6.42, 7.10-7.11, 7.14-7.16
Significance	6.5, 6.7
Staffing	6.5, 6.17-6.18, 6.20
Supervision	6.22-6.25, 6.64
Timeliness	7.6-7.8
User needs	5.9, 5.10, 6.7-6.8
Working papers, requirements	3.29, 4.3, 4.15, 4.31, 4.34-4.38, 5.8, 5.20, 5.28, 6.63-6.65, 7.18
Work of others	6.14-6.16, 6.65
Views of responsible officials	7.38-7.42

If you have questions about Government Auditing Standards,
send email to Marcia Buchanan at buchananm.aimd@gao.gov.