Skip to main content

Financial Audit Manual: Volume 1, June 2022 (Updated May 2023)

GAO-22-105894 Published: Jun 30, 2022. Publicly Released: Jun 30, 2022.
Jump To:

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 May 2023 update replaces Financial Audit Manual, Volume 1 (June 2022 version) and contains the audit methodology.

The FAM also consists of:

Volume 2: detailed implementation guidance

Volume 3: the Federal Financial Reporting Checklist

Highlights

 

The U.S. Government Accountability Office (GAO) and the Council of the Inspectors General on Integrity and Efficiency (CIGIE) maintain the GAO/CIGIE Financial Audit Manual (FAM).

For more information, please visit the main Financial Audit Manual page, or contact Dawn B. Simpson at (202) 512-3406 or SimpsonDB@gao.gov.

 

Full Report

Full Report (506 pages)
Accessible PDF (500 pages)

GAO Contacts

Office of Public Affairs

Topics

Auditing and Financial Management
Accounting standardsAccountsCompliance oversightFinancial audit manualFinancial reportingFinancial statementsGovernment auditing standardsInformation systemsInternal controlsLaws and regulations