Surgent's Applying the Yellow Book to a Financial Statement Audit

Overview

Knowing just a little about the Yellow Book can hurt you! It is important to have a thorough understanding of the standards. This course covers the Yellow Book financial auditing requirements and prepares you to excel in applying the standards. You will learn precisely what the Yellow Book does and does not require auditors to do. The course materials utilize a highly illustrative and innovative format. Over 15 focused exercises are included to provide an enhanced knowledge of the Yellow Book.

Highlights

• Critical concepts related to applying the new Yellow Book including when the standards are applicable; the types of engagements involved; and the relationship between the Yellow Book and other standards
• The new Yellow Book standards related to ethics; independence; professional judgment; competence and CPE; quality control; and peer review
• The new Yellow Book requirements related to performing and reporting on financial audits and how those requirements affect the audit in areas like internal control

Prerequisites

Basic audit knowledge

Designed For

Auditors performing Yellow Book engagements

Objectives

• Thoroughly understand the requirements of the new Yellow Book and how they relate to the AICPA and single audit requirements
• Prepare to implement the new Yellow Book in an effective and efficient manner
• Save time by understanding what the new Yellow Book does and does not require auditors to do

Preparation

None