Governmental Accounting and Auditing Update
New GASB, OMB, and Yellow Book standards and requirements are detailed in this governmental accounting and auditing update to help you stay ahead of federal audit changes.
Format
Online
NASBA Field of Study
Accounting (Governmental)
Level
Update
CPE Credits
9
Author(s)
Melisa F. Galasso
Availability
1 year
Product Number
GAU24SSO
Latest governmental accounting and auditing requirements
Recent developments can easily pass you by. Learning about new GASB, OMB, and Yellow Book requirements, will allow you to stay up to date on auditing standards and best practices.
You’ll learn about the following topics:
- Recent GASB standards and how to implement them
- Recently issued Statements on Auditing Standards
- Changes to the AICPA Code of Professional Conduct that affect governments
- The changes introduced in Government Auditing Standards 2024 Revision
- Yellow Book requirements relating to independence, management responsibilities, and reporting
- Updates to the Uniform Guidance issued by the OMB
Practical application of new requirements
You’ll have the opportunity to practice what you learn through realistic examples, and robust review questions will reinforce your knowledge to get you ready for implementing the new requirements.
Who Will Benefit
- Preparers of government financial statements
- Auditors of government financial statements
- Users of government financial statements
Key Topics
- GASB updates
- Updated Statements on Auditing Standards (SASs)
- Yellow Book & OMB updates affecting single audits
- Ethics updates for governments and not-for-profit entities
Learning Outcomes
- Identify the effect of GASB statements on accounting and financial reporting for state and local governments.
- Identify the requirements of recently issued Statements on Auditing Standards (SASs).
- Identify changes to the AICPA Code of Professional Conduct that affect governments and NFPs.
- Recall Yellow Book requirements related to independence, management’s responsibilities, and reporting.
- Recognize resources and considerations for conducting a single audit.
- Identify internal control considerations in a single audit.
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