Financial Audit Manual: Volume 1, June 2025
Fast Facts
The Financial Audit Manual (FAM) presents a methodology for performing financial statement audits of federal entities in accordance with professional standards. It is a tool for enhancing accountability over taxpayer-provided resources.
This June 2025 revision replaces Financial Audit Manual, Volume 1 (June 2024 version) and contains the audit methodology.
The FAM's other volumes are:
Volume 2: detailed implementation guidance
Volume 3: the Federal Financial Reporting Checklist
You can download all volumes of the FAM in Word and certain Excel templates, and see prior versions of the manual on the main FAM page.
Highlights
The U.S. Government Accountability Office (GAO) and the Council of the Inspectors General on Integrity and Efficiency (CIGIE) maintain the Financial Audit Manual (FAM).
For more information, please visit the main FAM page, or contact Dawn B. Simpson at SimpsonDB@gao.gov.