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The 2018 Yellow Book went into effect for performance audits on July 1, 2019, and will be used for financial audits, attestation engagements, and reviews of financial statements for the period ending on or after June 30, 2020. Some areas with significant changes were:

  • A new format that differentiates requirements from application guidance
  • Revised peer review requirements for audit organizations
  • Updated independence requirements for auditors who prepare the financial statements of an audited entity
  • New guidance to address waste and abuse as defined under government auditing standards
  • Updated internal control guidance for performance audits

Now is the perfect time to register for one of our auditing courses addressing latest GAO Yellow Book changes.

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