About this Course
Topics covered include:
Yellow Book Overview;
Definitions;
Ethics;
General Standards;
Yellow Book Independence;
Professional Judgment;
Competence;
Yellow Book CPE Requirements;
Quality Control and Assurance;
Standards for Financial Audits.
Upon completing this course, you should be able to:
Identify the elements of a Yellow Book finding;
Describe the ethics and independence requirements of Yellow Book;
Recognize how to contrast the requirements of Yellow Book with the AICPA requirements;
Identify services covered by GAGAS;
Describe management's responsibility in an audit;
Recognize the changes to the 2018 Yellow Book revision;
Identify peer review and how it applies;
Describe types of auditors required to follow Yellow Book;
Identify the steps in the conceptual framework;
Differentiate considerations of nonaudit service;
Identify the financial statement period effective for 2018 Yellow Book;
Recognize which activities can impair an auditor's independence;
Recognize how to exercise reasonable care and professional skepticism;
Differentiate between Yellow Book requirements for reporting on internal controls over financial reporting (ICFR) and AU-C Section 265.