Government Auditing Standards: January 2007 Revision (31-JAN-07,
GAO-07-162G).
This is the Government Auditing Standards 2007 version. This
document outlines standards that contain requirements for auditor
reporting on internal control. This revision supersedes the 2003
revision.
-------------------------Indexing Terms-------------------------
REPORTNUM: GAO-07-162G
ACCNO: A65464
TITLE: Government Auditing Standards: January 2007 Revision
DATE: 01/31/2007
SUBJECT: Auditing procedures
Auditing standards
Cost accounting
Federal advisory bodies
Federal agencies
Internal auditors
Internal audits
Standards evaluation
Yellow Book
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GAO-07-162G
* [1]Government Auditing Standards
* [2]January 2007
* [3]Letter 1
* [4]Chapter 1 Use and Application of GAGAS
* [5]Chapter 2 Ethical Principles in Government Auditing
* [6]Chapter 3 General Standards
* [7]Chapter 4 Field Work Standards for Financial Audits
* [8]Chapter 5 Reporting Standards for Financial Audits
* [9]Chapter 6 General, Field Work, and Reporting
Standards for Attestation Engagements
* [10]Chapter 7 Field Work Standards for Performance
Audits
* [11]Chapter 8 Reporting Standards for Performance
Audits
* [12]Appendixes
* [13]Appendix I: Supplemental Guidance 168
* [14]Appendix II: Comptroller General's
Advisory Council on Government Auditing
Standards 188
* [15]Index
* [16]Use and Application of GAGAS
* [17]Introduction
* [18]Purpose and Applicability of GAGAS
* [19]Use of Terminology to Define Professional Requirements in
GAGAS
* [20]Stating Compliance with GAGAS in the Auditors' Report
* [21]Relationship between GAGAS and Other Professional Standards
* [22]Types of GAGAS Audits and Attestation Engagements
* [23]Financial Audits
* [24]Attestation Engagements
* [25]Performance Audits
* [26]Professional Services Other Than Audits (Nonaudit
Services) Provided by Audit Organizations
* [27]Ethical Principles in Government Auditing
* [28]Introduction
* [29]Ethical Principles
* [30]The Public Interest
* [31]Integrity
* [32]Objectivity
* [33]Proper Use of Government Information, Resources, and
Position
* [34]Professional Behavior
* [35]General Standards
* [36]Introduction
* [37]Independence
* [38]Personal Impairments
* [39]External Impairments
* [40]Organizational Independence
* [41]Organizational Independence for External Audit
Organizations
* [42]Organizational Independence for Internal Audit
Functions
* [43]Organizational Independence When Performing
Nonaudit Services
* [44]Overarching Independence Principles
* [45]Types of Nonaudit Services
* [46]Nonaudit Services That Do Not Impair Auditor
Independence
* [47]Nonaudit Services That Would Not Impair
Independence if Supplemental Safeguards Are
Implemented
* [48]Nonaudit Services That Impair Independence
* [49]Supplemental Safeguards for Maintaining
Auditor Independence When Performing Nonaudit
Services
* [50]Professional Judgment
* [51]Competence
* [52]Technical Knowledge and Competence
* [53]Additional Qualifications for Financial Audits and
Attestation Engagements
* [54]Continuing Professional Education
* [55]Quality Control and Assurance
* [56]Field Work Standards for Financial Audits
* [57]Introduction
* [58]AICPA Field Work Standards
* [59]Additional Government Auditing Standards
* [60]Auditor Communication During Planning
* [61]Previous Audits and Attestation Engagements
* [62]Detecting Material Misstatements Resulting from
Violations of Contract Provisions or Grant Agreements, or
from Abuse
* [63]Developing Elements of a Finding
* [64]Audit Documentation
* [65]Additional Considerations for GAGAS Financial Audits
* [66]Materiality in GAGAS Financial Audits
* [67]Consideration of Fraud and Illegal Acts
* [68]Ongoing Investigations or Legal Proceedings
* [69]Reporting Standards for Financial Audits
* [70]Introduction
* [71]AICPA Reporting Standards
* [72]Additional Government Auditing Standards
* [73]Reporting Auditors' Compliance with GAGAS
* [74]Reporting on Internal Control and Compliance with Laws,
Regulations, and Provisions of Contracts or Grant Agreements
* [75]Reporting Deficiencies in Internal Control, Fraud,
Illegal Acts, Violations of Provisions of Contracts or Grant
Agreements, and Abuse
* [76]Deficiencies in Internal Control
* [77]Fraud, Illegal Acts, Violations of Provisions of
Contracts or Grant Agreements, and Abuse
* [78]Reporting Findings Directly to Parties Outside the
Audited Entity
* [79]Presenting Findings in the Auditors' Report
* [80]Communicating Significant Matters in the Auditors'
Report
* [81]Reporting on Restatement of Previously-Issued Financial
Statements
* [82]Evaluate the Timeliness and Appropriateness of
Management's Disclosure and Actions to Determine and
Correct Misstatements in Previously-issued Financial
Statements
* [83]Report on Restated Financial Statements
* [84]Report Directly to Appropriate Officials when the
Audited Entity Does Not Take the Necessary Steps
* [85]Reporting Views of Responsible Officials
* [86]Reporting Confidential or Sensitive Information
* [87]Distributing Reports
* [88]General, Field Work, and Reporting Standards for Attestation
Engagements
* [89]Introduction
* [90]AICPA General and Field Work Standards for Attestation
Engagements
* [91]Additional Government Auditing Standards
* [92]Auditor Communication During Planning
* [93]Previous Audits and Attestation Engagements
* [94]Internal Control
* [95]Fraud, Illegal Acts, Violations of Provisions of
Contracts or Grant Agreements, or Abuse That Could Have a
Material Effect on the Subject Matter
* [96]Developing Elements of a Finding
* [97]Documentation
* [98]Additional Considerations for GAGAS Attestation Engagements
* [99]Materiality in GAGAS Attestation Engagements
* [100]Ongoing Investigations or Legal Proceedings
* [101]AICPA Reporting Standards for Attestation Engagements
* [102]Additional Government Auditing Standards
* [103]Reporting Auditors' Compliance with GAGAS
* [104]Reporting Deficiencies in Internal Control, Fraud,
Illegal Acts, Violations of Provisions of Contracts or Grant
Agreements, and Abuse
* [105]Deficiencies in Internal Control
* [106]Fraud, Illegal Acts, Violations of Provisions of
Contracts or Grant Agreements, and Abuse
* [107]Reporting Findings Directly to Parties Outside the
Entity
* [108]Presenting Findings in the Auditors' Report
* [109]Reporting Views of Responsible Officials
* [110]Reporting Confidential or Sensitive Information
* [111]Distributing Reports
* [112]Field Work Standards for Performance Audits
* [113]Introduction
* [114]Reasonable Assurance
* [115]Significance in a Performance Audit
* [116]Audit Risk
* [117]Planning
* [118]Nature and Profile of the Program and User Needs
* [119]Internal Control
* [120]Information Systems Controls
* [121]Legal and Regulatory Requirements, Contract Provisions
or Grant Agreements, Fraud, or Abuse
* [122]Legal and Regulatory Requirements, Contracts, and
Grants
* [123]Fraud
* [124]Abuse
* [125]Ongoing Investigations or Legal Proceedings
* [126]Previous Audits and Attestation Engagements
* [127]Identifying Audit Criteria
* [128]Identifying Sources of Evidence and the Amount and Type
of Evidence Required
* [129]Using the Work of Others
* [130]Assigning Staff and Other Resources
* [131]Communicating with Management, Those Charged with
Governance, and Others
* [132]Preparing the Audit Plan
* [133]Supervision
* [134]Obtaining Sufficient, Appropriate Evidence
* [135]Appropriateness
* [136]Sufficiency
* [137]Overall Assessment of Evidence
* [138]Developing Elements of a Finding
* [139]Audit Documentation
* [140]Reporting Standards for Performance Audits
* [141]Introduction
* [142]Reporting
* [143]Report Contents
* [144]Objectives, Scope, and Methodology
* [145]Reporting Findings
* [146]Deficiencies in Internal Control
* [147]Fraud, Illegal Acts, Violations of Provisions of
Contracts or Grant Agreements, and Abuse
* [148]Reporting Findings Directly to Parties Outside the
Audited Entity
* [149]Conclusions
* [150]Recommendations
* [151]Reporting Auditors' Compliance with GAGAS
* [152]Reporting Views of Responsible Officials
* [153]Reporting Confidential or Sensitive Information
* [154]Distributing Reports
* [155]Supplemental Guidance
* [156]Introduction
* [157]Overall Supplemental Guidance
* [158]Examples of Deficiencies in Internal Control
* [159]Examples of Abuse
* [160]Examples of Indicators of Fraud Risk
* [161]Determining Whether Laws, Regulations, or Provisions of
Contracts or Grant Agreements Are Significant within the
Context of the Audit Objectives
* [162]Information to Accompany Chapter 1
* [163]Laws, Regulations, and Guidelines that Require Use of
GAGAS
* [164]The Role of Those Charged with Governance in
Accountability
* [165]Management's Role in Accountability
* [166]Information to Accompany Chapter 3
* [167]Nonaudit Services
* [168]Information to Accompany Chapter 7
* [169]Types of Evidence
* [170]Appropriateness of Evidence in Relation to the Audit
Objectives
* [171]Information to Accompany Chapter 8
* [172]Report Quality Elements
* [173]Comptroller General's Advisory Council on Government Auditing
Standards
* [174]Advisory Council Members
* [175]GAO Project Team
* [176]Index
*** End of document. ***