Course Information

This hands-on course focuses on and demystifies the Yellow Book, or Generally Accepted Government Auditing Standards.  This course focuses on performance audits.  Understanding and adhering to Yellow Book standards is critical for high-performing audit shops, i.e., those that claim compliance with Yellow Book standards in their reports.  This course will help auditors ensure that they are, for instance, meeting the tests and types of evidence; applying and following standards throughout all phases of the audit (planning, fieldwork, and reporting); acting ethically, etc.  Join us for a fast-moving and easy-to-understand overview of the Yellow Book.

Upon completion of this course, participants will be able to:

–     Understand how the Yellow Book is organized and comprehend key concepts contained in it

–     Explain the general standards

–     Describe the types of audits and types as well as tests of evidence

–     Explain the planning, fieldwork, and reporting standards associated with performance audits

Outline

Module 1. 

The facilitator introduces herself and presents an overview of the course.  Participants define “Yellow Book” and learn how the Yellow Book is organized.

Module 2:  Ethical Principles

Upon completion of this module, participants will understand the five ethical principles:

1.      The public interest

2.      Integrity

3.      Objectivity

4.      Proper use of government information, resources, and position

5.      Professional behavior

During the module, participants will engage in several activities to help clarify the meaning and importance of each ethical principle.

Module 3:  General Standards

Upon completion of this module, participants will understand the four general standards:

·         Independence

·         Professional Judgment

·         Competence

·         Quality Control and Assurance

They will be able to define and give examples of each general standard as well as realize the standards apply to all audit types.

Module 4:  The Tests and Types of Evidence

This module covers the “how-to’s” of collecting audit evidence that meets Yellow Book standards.  Participants will understand the definition of “sufficient” and “appropriate”—the tests of evidence-- and the importance of collecting evidence that meets both tests.  They will also understand the definitions of the types of evidence—physical, documentary, and testimonial—and the importance of collecting all three types, if possible, to address every audit objective.  Several interactive exercises are included in this module.

Module 5:  Field Work Standards for Performance Audits

·         In small teams, participants will identify, discuss, and report out to the entire class their interpretation of one key section of Chapter 6 of the Yellow Book.  The sections include:

·         Planning the audit

·         Supervising staff

·         Obtaining sufficient and appropriate evidence

·         Preparing audit documentation

The instructor will facilitate this hands-on exercise to ensure the discussions are correct and relevant.  She will also add examples.

Module 6:  Reporting Standards for Performance Audits

Participants, in small teams, will identify, discuss, and report out their interpretations of key sections of Chapter 7 of the Yellow Book.  The sections include:

·         Form of the report

·         Report contents

·         Report issuance and distribution.

The instructor will facilitate this hands-on exercise to ensure the discussions are on target.  She will also add examples.

Final Remarks

Participants reflect on what they have learned during the training and how they will apply what they have learned when they return to their work place.

If you are making travel plans to come to Austin, we recommend making "refundable" air and hotel reservations or waiting until 14 days before the class to actually book your reservations. Courses are occasionally canceled or rescheduled due to low enrollment. We determine whether a course has enough participants 16 days prior to the course date. If we cancel or reschedule, we will email the participant and his or her billing contact no later than 14 days before the original class date.

The course coordinator will contact you with parking information. Handicapped parking is free at the meters around the downtown area.

Vending machines with Coca-Cola products and various snack items are available. There is also a refrigerator and microwave in our coffee bar area. Feel free to bring in your own drinks and food if you prefer.

You might want to bring a light sweater or jacket, as room temperatures vary.

To see answers to our Frequently Asked Questions, visit http://www.sao.texas.gov/training/faq.html.