Nc yellow book audit training

There is no formal preapproval process for the mncpa or any other sponsor to qualify a course for yellow book credit. One yellow book hour 50 minutes equivalent to a cpe hour. The course materials utilize a highly illustrative and innovative format. The 2018 yellow book s internal control requirements for performance auditors. 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. Government accounting, budget practices, and capital funding this course teaches the fundamentals of state and local government accounting, decisionmaking, budget practices, and capital plans. Government auditing standards, december 2011 revision also referred to as the yellow book the professional standards and guidance for financial audits contained in government auditing standards provide a framework for conducting high quality audits with competence, integrity, objectivity, and independence. The new yellow book is effective for audits of financial statements for periods ending on. Yellow book continuing education requirements are governed by the u. Government auditing standards yellow book practice aids. Special attention is given to common single audit deficiencies, best practices, efficient and effective methods to test internal controls and compliance requirements including sampling techniques, and development of. With this series, you can choose to attend the sessions that are most important to you. A complete guide to the new yellow book north carolina.

Auditors should, however, consider the independence provisions of the 2018 yellow book prior to the effective date, as auditors performing nonaudit services for a financial statement audit will need to comply with the new independence requirements at the beginning of the audit period and be independent for the entire period that the financial statements relate to when performing audits for periods before the new rules apply. During this course you will gain important insights into compliance pitfalls for hudassisted. This course covers the proposed yellow book updates and actual uniform guidance updates as it relates to governmental auditors. Government accounting gagasyellow book training and cpe. Catch up on the latest developments in accounting and auditing for state and local governments and notforprofits in a powerpacked fourhour session. The revised version has been reorganized and realigned with the aim of making it easier for professionals to find relevant rules when performing research. The gaos yellow book, government auditing standards, lays down certain cpe. The government accountability office recently released a new version of government auditing standards, also known as the yellow book. The course includes an overview of requirements, and how gaas and the yellow book apply to the compliance audit. Fundamentals for performing a single audit under the uniform guidance for federal awards. It also covers the different types of federal awards, along with audit implications for a recipient or subrecipient. Internal audit basic training raleigh, nc cia, yellow book. The cpe standards affect the way credit is calculated for selfstudy courses.