209  |  In Person Training  |  Update  |  Cancelled

Annual Yellow Book Update and Review - A Realistic Approach

Tuesday, September 24, 2019 8:30am - 4:00pm

This seminar focuses on how to apply the requirements of "little GAS" to audits of the financial statements of covered governmental and nonprofit clients. This hands-on seminar takes the Yellow Book concepts out of the book and provides each participant with the tools, and practical experience, to effectively apply those concepts in real-world situations. This seminar will include special emphasis on each of the topics included in the 2011 revision, to include; independence, conflict-of-interest, planning, risk-based approach to audits, and internal control (environment), auditor responsibilities for performance (planning and fieldwork) and reporting requirements in a Yellow Book audit.


  • Gain a comprehensive review of professional standards as they relate to the conduct of a financial statement audit performed in accordance with GAGAS.
  • Learn practical application of risk-based requirements unique to the Yellow Book realm, including areas such as the testing and reporting on design and effectiveness of internal controls identified in the course of the risk-based financial statement audit.


Designed For

CPAs who play a significant role in the audit of clients who are subject to the provisions of generally accepted governmental auditing standards


  • Audit principles, objectives, requirements and application guidance from a principles-based approach
  • Financial statement audits - emphasis on changes to previous standards
  • Attestation engagements - emphasis on changes to previous standards
  • Internal control system auditor involvement - emphasis on changes to previous standards
  • Overview coverage of performance audits as an alternative to non-audit services
  • Materiality in the Yellow Book audit
  • Sampling considerations in the Yellow Book audit

This event has been canceled. If you have any questions or concerns related to this event give us a call at 405-841-3800.


Gary A. Hotchkiss

Gary A. Hotchkiss, CPA, is a sole practitioner in Dallas consulting on accounting and audit technical issues. He served as a chief financial officer in the high-tech manufacturing industry and has been a member of the AICPA Auditing Standards Board and manager in the AICPA Examinations Division. Mr. Hotchkiss has taught at Pace University and the University of Texas and he has received outstanding discussion leader awards from the AICPA and the state societies of CPAs in Florida, Nevada and Texas.

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