2024 Governmental Auditing Update: Yellow Book & Uniform Guidance

Yellow Book and Single Audit engagements are considered must-select engagements for Peer Review. This course will cover the Yellow Book independence requirements which are required any time an auditor is performing a Yellow Book or Single Audit, even when the engagement is for a for-profit entity. We will also take a look at the major changes in the 2024 Compliance Supplement as well as the changes to the Uniform Guidance. Finally, we close with major deficiencies identified by the federal agencies and peer reviewers.

Upon completing of this course, learners will be able to:

• Identify changes to Single Audits as a result of the 2024 Compliance Supplement
• Identify the changes to Chapter 5 of Yellow Book
• Recall the independence requirements in Yellow Book
• Recognize common Yellow Book deficiencies
• Recall the independence, CPE, and reporting requirements in Yellow Book
• Recognize changes to the Uniform Guidance
• Recall common deficiencies found in Single Audits