In Yellow Book: What Can Go Wrong¸ James Woy reviews the general standards covered under GAS. Special attention will be given to chapters 1-3, focusing on ethics, recent revisions to independence rules, and CPE requirements. You'll also learn solutions to common problems firms encounter when attempting to interpret GAS.
Cite Government Auditing Standards (GAS) and when they apply in financial audits and attestation engagements
Cite the emphasis in the general standards on maintaining and documenting independence, continuing education requirements, and what it means to exercise professional judgment in the GAS environment
Identify common problems auditors have with complying with GAS
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