Generally Accepted Government Auditing Standards
(GAGAS) Update

On February 1, 2007, the Comptroller General of the United States issued the 2007 revised Generally Accepted Government Auditing Standards (GAGAS). While the revised standards do not contain the sweeping changes contained in the 2003 revisions, they do contain significant changes. It is important for auditors of state and local governments and certain nonprofit organizations to know when the standards apply as well as the additional requirements mandated by the standards that go beyond GAGAS. In addition, when an auditor signs an opinion and states that the audit was performed in accordance with GAGAS, it is crucial that the auditor knows what the current standards are and when they apply.

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

• List the regulatory changes contained in the 2007 revised Generally Accepted Government Auditing Standards.
• Identify when general standards apply and when they do not.
• Operate under the requirements that dwell outside of GAGAS.

HIGHLIGHTS:

• To become familiar with the revised GAGAS.