2011 yellow book cpe requirements

Last revised in 2011, the yellow book is designed to help. The cpe hour requirement stays the same at 24 and 56. Cpas familiar with the 2011 version of the yellow book will notice a stark. While the 2011 rules required firms to consider these possibilities, the 2018 yellow.

Overview of the 2018 yellow book and significant changes. This course will identify the new organization and format of the 2018 yellow book. Description thoroughly understand the requirements of the new yellow book and how they relate to the aicpa and singleaudit requirements. Government auditing standards yellow book practice aids and. 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. Names gagas, gas, or the yellow book yb all are one and the same. The 2018 yellow book provides slight relief from the cpe.

Government auditing standards yellow book practice aids. Yellow book standards for cpas in public practice webinar. Independence requirements related to nonaudit services. Update on the developments in government auditing standards. We also do not agree with the 4hour cpe requirement in paragraph 4. Recognize when the yellow book standards must be applied. The courses below will introduce the yellow book and allow you to understand concepts relating to government frauds. Identify the additional requirements for performing a financial audit under gagas. Course online, course textbook yellow book requirements foundational. The purpose and applicability of the yellow book a. Continuing professional education cpe no revision to overall requirements.

The new yellow book independence and nonaudit services the new yellow book cpe requirements year 1 year 2 total directly related to the government environment, government auditing, or the specific environment in which the audited entity operates. Cpe requirements 27 2018 yb does not includea 4hour gagas qualification cpe requirement that had been proposed in the ed. 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. Since 2011, charlie has been the director of governmental and nonprofit product development for surgent mccoy cpe, llc. Upon completion of this course, participants will be able to. Yellow book auditors are normally required to complete at least 80 hours of cpe every two years. Yellow book overview 1 hr online cpe course jn cpe courses. The aicpas 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 and gagas. Purchase printed copies of the 2011 yellow book and 2018 yellow book. This short course focuses on the requirements of the yellow book that challenge audit teams including the cpe, independence, and reporting requirements. Chapter 1 of the 2011 revision, government auditing. Covid19 alert on cpe requirements for auditors february 2020. The revised standards also known as the yellow book, or gas were. Recognize the five areas that changed in the 2018 yellow book from the 2011 yellow book.

Identify the requirements for auditor communication. Recognize the items that an auditor should include in report on internal control. Purchase printed copies of the 2011 yellow book and 2018 yellow book online through the government publishing office or by calling 2025121800 or 18665121800. The 2011 revision of government auditing standards is effective for financial audits and attestation engagements for periods ending on or after december 15, 2012, and for performance audits beginning on or after december 15, 2011. This short course focuses on the requirements of the yellow book that challenge cpas in public practice including the cpe, independence, and reporting requirements. This section of the aicpas 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. Minimum of 24 hours of cpe every 2 years government specific or unique environment auditing standards and applicable accounting principles additional 56 hours of cpe for auditors involved in planning, directing, or reporting on gagas assignments. Yellow book revisions update independence guidance journal of. Sep 01, 2020 yellow book auditors are normally required to complete at least 80 hours of cpe every two years. Aug 27, 2012 the new december 2011 yellow book a slippery slope for auditor independence designed and presented by alan w. This event may be a rebroadcast of a live event and the instructor will be available to answer your. Similar to the 2011 yellow book, cpe requirements are. Identify the new organization and format of the 2018 yellow book. Issued exposure draft of 2011 revision of gagas november 22nd 2010.

Auditors hired or initially assigned to gagas audits after the beginning of an audit organizations 2year cpe period should complete a prorated number of cpe hours. This is a very good cpe provided to beginners and the course was wellpaced and very informative in reconciling the 2011 yellow book information to the 2018 yellow book requirements. The yellow book status report has been updated to not require the 20hour annual. Supplemental guidance in appendices from the 2011 yb is either removed or. Charlie has written over 20 cpe courses and teaches 15 to 20 days annually in the governmental and nonprofit arena. Yellow book cpe requirements a recap of the special cpe rules. Yellow book cpe package surgent yellow book cpe package. Qualifies for yellow book cpe credit the gaos yellow book standards set a high bar for auditors of government programs.

General standards for complying with government auditing requirements. The new december 2011 yellow book a slippery slope for. What you need to know audio playback access slides open to the public originally presented september 25, 2018. Understand the changes presented in the 2011 yellow book pertaining to financial audits. Foundation and principles for the use and application of government auditing standards. Gao comment letters gao provides comments to other standardsetting organizations proposals in letter form. Comparison of the 2011 yellow book s independence rules to those from the aicpa. Podcast on the 2018 yellow book 2011 version of the yellow book. In that role, he writes surgent mccoy s cpe course offerings which qualify for yellow book cpe. Learn the new yb independence rules and understand how they differ from the aicpa. Cpe stands for continuing professional education, by the way. One of the toughest aspects of doing a yellow book audit is complying with the yellow book cpe requirements. The 2011 revised yellow book for financial audits on. Purchase printed copies of the 2011 yellow book and 2018 yellow book online through the government publishing office or by calling 202512.

Yellow book standardsleita hartfanta, cpa, cgfm, cgap. This article explains the yellow book continuing education requirements. One yellow book hour 50 minutes equivalent to a cpe hour. Apr 01, 2019 cpas familiar with the 2011 version of the yellow book will notice a stark contrast in the format of the 2018 version. The vscpa is committed to providing its members with uptodate information on continuing professional education cpe requirements. The yellow book standards related to the qualifications of the auditor i. Single audits are subject to additional cpe requirements under government auditing standards. Gagas cpe requirements, but should be qualified and maintain professional competence internal specialists performi ng gagas work 11 should comply with cpe requirements. Given concerns raised about auditors ability to complete continuing professional education cpe requirements due to the covid19 pandemic, gao has taken steps to allow for more time and flexibility to complete such requirements. The professional standards and guidance for financial audits contained in government. Guidance on gagas requirements for continuing professional education. And the requirements are a little bit involved so involved that the gao dedicated 17 pages. Weve also developed faqs on the virginia board of accountancy vboa regulations, including the twohour annual ethics course requirement for all virginia cpas.

The chart and information below covers general cpe requirement questions. However, the proposed standard clarifies continuing education requirements for internal specialists such as actuaries. The mncpa offers yellow book credit for select seminars and conferences. Jan 21, 2019 in terms of yellow book cpe, many of the proposed changes in this area were removed in the final version. Readily understand the key changes contained in the 2011 yellow book revision perform effective and efficient yellow book engagements with a thorough understanding of the requirements. Determining which courses qualify for the yellow book 24hour requirement are made on an auditorspecific basis based on the auditors yellow book clients. You could just stay up for one whole day and take care of it. This course will describe when the yellow book standards must be applied.

Requirements are boxed off and followed by application material, with. New statements on auditing standards and the yellow book. Finally, this course will recognize the five areas that changed in the 2018 yellow book from the 2011 yellow book. Internal specialists serving as auditors are subject to all cpe requirements. The 2011 revision of government auditing standards supersedes the 2007 revision. An excellent baseline of information for accountants planning or conducting engagements in accordance with generally accepted government auditing standards yellow. Yellow book continuing education requirements are governed by the u. You need 80 hours of classes enhancing your professional proficiency and 24 hour related to. The 2018 revision of government auditing standards supersedes the 2011 revision gao12331g, december. Auditors performing work under the gaos government auditing standards are required to complete, every two years, 24 hours of cpe in subjects directly related to government auditing, the government environment, or the specific or. Print magazine news alerts cpe direct cpa letter daily cpa insider. The yellow book outlines all requirements for governmental audit reports, professional qualifications for auditors, and audit organization quality control. Apr 19, 2017 qualifies for yellow book cpe credit the gaos yellow book standards set a high bar for auditors of government programs. External specialists as well as internal specialists who are not involved in planning, directing, performing engagement procedures, or reporting are also exempt from all gagas cpe requirements.

Course online, course textbook yellow book requirements. At the end of this chapter, the student will be able to. Fulfill your 24hour yellow book requirement for one low price with surgents selfstudy yellow book package. The free aicpa practice aid 2011 yellow book independencenonaudit services documentation practice aid is a useful tool in identifying and evaluating threats to independence when considering whether to provide a nonaudit service.

Auditors must use professional judgement when determining and documenting if the seminar qualifies for yellow book in accordance with the government accountability office, government auditing standards, december 2011 revision and guidance on gagas requirements for continuing professional education. Cpas familiar with the 2011 version of the yellow book will notice a stark contrast in the format of the 2018 version. Government auditing standards and foundations yellow book. Inform and teach participants about the changes to the yellow book 2.

Recognize the additional gagas reporting requirements for financial audits. December 2011 revision and guidance on gagas requirements for. Illustrative yellow book audit reports when performing an audit under government auditing standards, it is important to get the auditor reporting correct. Sign up for cpe monitoring search for qualifying c pe courses. Note from the gao regarding yellow book cpe requirements. Top ten most important changes from the 2011 yellow book to the. Additional gagas requirements for reporting on financial.

The yellow book cpe requirement is 24 hours of cpe every two years. Cpe requirements virginia society of certified public. Gao has taken steps to allow for more time and flexibility to complete continuing professional education cpe. Podcast on the 2018 yellow book 2011 version of the yellow book gao contact information 8. However, the gao did add application guidance that emphasizes the need to obtain gagasspecific cpe especially when there are revisions to the standards. Sep 30, 2019 one of the toughest aspects of doing a yellow book audit is complying with the yellow book cpe requirements. There is no formal preapproval process for the mncpa or any other sponsor to qualify a course for yellow book credit. Government auditing standards and foundations yellow. The yellow book requirements related to attestation engagements i. May 01, 2019 cpas familiar with the 2011 version of the yellow book will notice a stark contrast in the format of the 2018 version. Auditors required to take the total 80 hours of cpe should complete at least 20 hours of cpe in each year of the 2year periods. Anderson, cpa the government accountability office gao revised the government accounting standards gas or yellow book in december 2011. To assist participants in assessing the impact of changes on current practice. Government auditing standards yellow book practice aids and tools.