Auditors engaged in gagas engagements must comply with the government accountability office gao yellow book continuing education requirements. Nonaudit services are permitted by aicpa unless there are significant threats nonaudit services are also allowed by yellow book. One of the toughest aspects of doing a yellow book audit is complying with the yellow book cpe requirements. Qualifies for yellow book cpe credit the gaos yellow book standards set a high bar for auditors of government programs. Aicpa governmental and notforprofit training program. A great way to make sure you get all of your cpe credits. The yellow book states, determining what subjects are appropriate for individual auditors to satisfy both the 80hour and the 24hour requirements is a matter of professional judgment to be exercised by.
This cpe course explains the basic elements of a uniform guidance compliance audit, including who must undergo this type of engagement. Independence requirements related to nonaudit services. Auditors performing work under gagas, including planning. Financial audit standards require that auditors state. Governmental auditing, these learning resources are designed to help cpas understand the knowledge and skills necessary to perform highquality single audits, yellow book audits, and audits of state and local government financial statements. This section of the aicpa s governmental audit quality center gaqc web site is intended to provide links to practice aids and tools that will assist auditors in understanding the requirements of government auditing standards, issued by the comptroller general of the united states also referred to as the yellow book and gagas and includes the following. All jurisdictions accept courses from registry sponsors to a certain extent. Yellow book standards for cpas in public practice webinar. Yellow book credits if an auditor is interested in yellow book credit, professional judgment must be used when determining and documenting if these sessions qualify for yellow book cpe in accordance with the government accountability office, government auditing standards, december 2011 revision, and guidance on gagas requirements. In this course, we will cover the audit requirements that exceed aicpa standards in the gao s yellow. Basic requirements for regular members as of january 1, 2001.
American institute of certified public accountants aicpa. Those who were following the yellow book exposure draft should be aware that the proposed requirement to take four hours of gasspecific cpe was not included in the finalized 2018 yellow book. This short course focuses on the requirements of the yellow book that challenge cpas in public practice including the cpe, independence, and reporting requirements. Yellow book continuing professional education cpe auditors performing work under gagas need to complete 80 hours of cpe every two years with a minimum of 20 hours each year.
Cpas are responsible for complying with all applicable cpe requirements, rules and regulations of state boards of accountancy, as well as those of membership associations and other professional organizations. Yellow book cpe requirements a summary cpa hall talk. From january 1, 2001, forward and for each threeyear reporting period thereafter, regular aicpa members shall complete 120 hours or its equivalent, of continuing professional education. Fundamentals for performing a single audit under the.
Each auditor performing work under gagas should complete every two years at least 80 hours of cpe that directly enhance the auditors professional proficiency to perform. The gaos yellow book, government auditing standards, lays down certain cpe requirements. Resources include the most uptodate information on the uniform guidance and recent gasb. Aicpa mycpe manager is the newest tool to help you manage your continuing education requirements. Continuing professional education cpe requirements for. Governmental auditing, these learning resources are designed to help cpas understand the knowledge and skills necessary to perform highquality single audits, yellow book. Through a case studyintense, highly interactive, classroom environment, this cpe course provides you with the tools necessary to go beyond the theory and create valueadded services for your clients. This document provides guidance to auditors and audit organizations in implementing the continuing professional education cpe requirements prescribed by the government auditing standards yellow book issued by the comptroller general. In addition to a chapter covering the key points in a uniform guidance compliance audit, this cpe course also includes content from aicpa guide government auditing standards and single audits related to a uniform guidance compliance audit. Access the yellow book and related information about government auditing standards requirements on the yellow book page of the gao web site.
Auditor responsibility under the yellow book unconditional requirements auditor must comply with where relevant. Personnel are defined in the aicpa quality control. Mycpe manager includes all state and most credential requirements. Government auditing standards yellow book practice aids. Cpe requirements about our programs education foundation programs are developed to comply with the statement on standards for continuing professional education cpe programs jointly issued by the national association of state boards of accountancy nasba and the aicpa. Do you need to enhance your notforprofit accounting skills.
Active cpas must complete the required 120 cpe hours over a rolling threeyear period, with a minimum of 20 hours annually. The yellow book cpe requirement is 24 hours of cpe every two years. The new yellow book requirements related to performing and reporting on financial audits and how those requirements affect the audit in areas like internal control. Auditor responsibility under the yellow book unconditional requirements. Plan your cpe around your life, not the other way around. Cpe requirements mississippi society of certified public. Thoroughly understand the requirements of the new yellow book and how they relate to the aicpa and single audit requirements. The 2003 revision of the government auditing standards, often referred to as the yellow book or generally accepted government auditing standards. And the requirements are a little bit involved so involved that the gao dedicated 17 pages. You can see which jurisdictions have these requirements by using the filter feature below. Recognize the requirements found in the 2018 government auditing standards yellow book.
However, some jurisdictions have additional requirements. For instance, the yellow book performance audit standards require granular documentation and reporting on internal controls. The yellow book is thick with best practice advice for auditors and more than a few requirements. While the aicpas 2011 yellow book independencenonaudit services. Track, organize and plan your cpe whether you report on one jurisdiction or several. Click on the jurisdiction name below to see a summary of requirements. What are the requirements for yellow book continuing professional education cpe. What are the cpe requirements under the 2018 yellow book.
Accountant, aicpa membership and yellow book standards as outlined above. The 80hour rule every two years the 24hour rule every two years then you must answer. Governmental auditing, these learning resources are designed to help cpas understand the knowledge and skills necessary to perform highquality single audits, yellow book audits. Standards, often referred to as the yellow book or generally. The aicpa s governmental audit quality center gaqc web site section provide links to practice aids and tools that will assist auditors in understanding the requirements of government auditing standards, issued by the comptroller general of the united states also referred to as the yellow book. It is essential that all auditors planning and conducting engagements in accordance with the new yellow book understand and be able to discern the requirements related to independence as found in.
Cpe stands for continuing professional education, by the way. Aicpa cima competency and learning knowledge check. Yellow book continuing education requirements are governed by the u. In particular, auditees should be aware that the yellow book imposes independence standards that may limit the nonaudit services that an auditor can perform for its audit clients. Access the yellow book and related information about government auditing standards requirements on the yellow book. Are you looking for the yellow book cpe requirements. You could just stay up for one whole day and take care of it. The cpe requirement also includes completing the twohour virginiaspecific.
The yellow book cpe requirement requires that auditors who perform work in government auditing, the government environment, or the specific or unique environment in which the audited entity operates must complete 24 hours specific to government auditing and the environment. Identify the revised requirements and guidance related to independence in the 2018 revision of the yellow book. Cpe requirements streamlined, but basics are still there. Cpe requirements f or aicpa members answers to the most commonly asked questions on policies for the cpe membership requirement. Below we will address 1 who is subject to the yellow book cpe requirements and 2 what cpe classes satisfy those requirements. Through a case studyintense, highly interactive, classroom environment, this cpe course. Auditors must use professional judgment when determining and documenting if these sessions qualify for yellow book cpe in accordance with the government accountability office, government auditing standards, december 2011 revision, and guidance on gagas requirements for continuing professional education.
416 1178 1082 1362 478 781 606 41 659 440 1063 966 496 1118 1064 991 250 133 1452 1087 776 563 1089 45 1009 1151 1267 17 933 562 969 1002 788 1198 1560 357 1506 1415 1486 1282 1253 95 1273 776 1060 331