Cpe requirements yellow book audits

One yellow book hour 50 minutes equivalent to a cpe hour. One of the toughest aspects of doing a yellow book audit is complying with the yellow book cpe requirements. Government auditing standards yellow book practice aids. Standards, often referred to as the yellow book or. Government auditing standards yellow book practice aids and. There is no formal preapproval process for the mncpa or any other sponsor to qualify a course for yellow book credit. Yellow book continuing education requirements are governed by the u. The 2018 yellow book goes into effect for financial audits, attestation. It outlines the requirements for audit reports, professional qualifications for auditors, and audit organization quality control. Cpe stands for continuing professional education, by the way. Auditors performing work under gagas, including planning.

Auditors of federal, state, and local government programs use these standards to perform their audits and produce their reports. You need 80 hours of classes enhancing your professional proficiency and 24 hour related to the specialized areas of your clients. The genesis of the cpe requirements stems from auditing history and experience as much as anything. The gaos yellow book, government auditing standards, lays down certain cpe requirements. The yellow book is used by auditors of government entities, entities that receive government awards, and other audit organizations performing yellow book audits. Guidance on gagas requirements for continuing professional education 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. Cpe requirements prescribed by the government auditing standards. The government accountability office recently released a new version of government auditing standards, also known as the yellow book. Yellow book cpe requirements a recap of the special cpe rules. Identify the revised requirements and guidance related to independence in the 2018 revision of the yellow book.

Most internal auditors would classify all of their audit work as a performance audit under the yellow book s definition. Auditors required to take the total 80 hours of cpe should complete at least 20 hours of cpe in each year of the 2year periods. And the requirements are a little bit involved so involved that the gao dedicated 17 pages. Yellow book cpe requirements a summary cpa hall talk. The cpe requirements apply to external auditors and internal auditors, both. The gao does not want auditors claiming that they performed an audit according to standards if they havent met yellow book cpe.