Summarizes 2018 revision of the Government Auditing Standards.
T
his brief provides a quick refresher on key aspects of the 2018 Yellow Book and dives into some of the critical changes and clarifications affecting internal auditors, including independence, with a specific focus on impact to internal audit and inspector general shops, continued professional education requirements, peer review updated requirements, definitions of waste and abuse and requirements for reporting, and expanded focus and clarification on internal control when conducting performance audits.