About The Yellow Book
The Yellow Book is used by auditors of government entities, entities that receive government awards, and other audit organizations performing Yellow Book audits. It outlines the requirements for audit reports, professional qualifications for auditors, and audit organization quality control. Auditors of federal, state, and local government programs use these standards to perform their audits and produce their reports.
The 2018 revision of the Yellow Book is only effective for financial audits, attestation engagements, and reviews of financial statements for periods ending on or after June 30, 2020, and for performance audits beginning on or after July 1, 2019. Early implementation is not permitted. For financial audits, attestation engagements, and performance audits performed under a prior revision of the Yellow Book, see the 2011 Revision. For further questions about Yellow Book effective dates and implementation, please call (202) 512-9535 or e-mail yellowbook@gao.gov.
Limited Technical Updates
In April 2021, we:
- Made limited technical updates to the 2018 revision of the Yellow Book. A table detailing the updates is on pages i through ii of the updated Yellow Book. View Yellow Book
- Issued a discussion paper that provides illustrative examples of how auditors can assess effectiveness, efficiency, economy, ethics, and equity in performance audits. View paper (PDF, 6 pages)
The 2021 technical updates to the 2018 revision of the Yellow Book are effective upon issuance.
The 2018 Yellow Book is also available in a digital format.
View the 2018 Digital Yellow Book
GAGAS Amendments & Interpretive Guidance
At this time, there are no amendments or interpretive guidance for the 2018 revision of Government Auditing Standards.
Yellow Book revisions undergo an extensive, deliberative process, including public comments and input from the Comptroller General's Advisory Council on Government Auditing Standards. GAO considers all Yellow Book comments and input from the Comptroller General's Advisory Council on Government Auditing Standards when finalizing revisions to the standards. Read more in our 2018 Yellow Book press release.
Printed Copies
The 2018 Yellow Book with the 2021 technical update can be purchased online through the Government Publishing Office at (GPO Bookstore- Government Auditing Standards- 2018 Revision with 2021 Technical Update) or by calling 202-512-1800 or 1-866-512-1800.
Previous Yellow Book Publications
COVID-19 Updates
- In August 2020, we issued an alert on general audit considerations related to COVID-19. Certain areas may need increased attention during audits due to the circumstances of the pandemic, such as identifying fraud risks. View Alert (PDF, 8 pages)
- In May 2020, we issued an alert that would allow more time and flexibility for auditors to complete continuing professional education (CPE) requirements during the pandemic. View Alert (PDF, 6 pages)
Advisory Council
The Comptroller General of the United States appointed the Advisory Council on Government Auditing Standards to review the standards and recommend necessary changes. The Council includes experts drawn from:
- federal, state, and local government;
- the private sector; and
- academia.
Advisory Council members serve 4-year terms and may be reappointed by the Comptroller General.
Advisory Council Meeting: Wednesday, September 21, 2022, 10:00am to 1:30pm (EDT)
The Advisory Council will hold a meeting to discuss updates and revisions to the Yellow Book and provide input towards a future exposure draft. The meeting will be virtual and is open to the public for observation.
Please click here for meeting instructions to observe the meeting. Note that observers are in “listen only” mode and will be provided an opportunity to present questions to the Advisory Council during a brief period in the afternoon on matters directly related to the proposed update and revision.
GAO staff prepared briefing materials to facilitate discussion during the Advisory Council meeting. This material is not intended as an authoritative view of GAO or its staff. GAO’s official position is determined only after extensive due process and deliberation.
The following Information is provided for observers of the meeting:
- September 21, 2022 Virtual Meeting Agenda
- Background - Update of Government Auditing Standards' Quality Control Standards
- Proposed Exposure Draft: Generally Accepted Government Auditing Standards (GAGAS) Chapter 5, Quality Management and Peer Review
- GAGAS Requirements for Reporting on Financial Audits: Proposed Application Guidance for Key Audit Matters Paragraph 6.39 Attachment I
Advisory Council Members, 2022-2026
| Name | Organization |
|---|---|
|
Erica Forhan, |
Partner Moss Adams LLP |
| David Berry | Inspector General National Labor Relations Board |
| Irving L. Dennis | Board Member and Treasurer American Cornerstone Institute |
| Jennifer L. Fain | Assistant Inspector General for Audits and Evaluations Export-Import Bank of the United States |
| Renee Flasher | Assistant Professor of Accounting Penn State Harrisburg |
| Nickolas Hart | President Data Foundation |
| Cathy Helm | Inspector General Smithsonian Institution |
| Lindsey D. Oakley | Partner FORVIS, LLP |
| Timothy M. O’Brien | Denver Auditor City and County of Denver |
| Kerrey M. Olden | Partner KPMG LLP |
| April Renfro | Legislative Auditor/Division Manager State of Idaho, Legislative Services Office – Audit Division |
| Doug A. Ringler | Auditor General State of Michigan |
| Brianna Schletz | Inspector General U.S. Election Assistance Commission |
| Corrie Stokes | City Auditor City of Austin |
| Lorin Venable | Assistant Inspector General for Audit U.S. Department of Defense |
| Theresa Watson | Audit Manager, Internal Audit City of Houston |
Standards and Guidance
Auditors may use the Yellow Book in conjunction with professional standards issued by GAO and other authoritative bodies. GAO also issues guidance on implementing and complying with standards.
Professional Standards Updates (PSUs) summarize recently-issued standards of major auditing and accounting standard setting bodies. These updates inform the Yellow Book user community of important changes to professional requirements. These updates do not establish new professional standards and do not reflect GAO official views on these requirements. Users should refer to the original, authoritative standards for purposes of implementing the standards.
GAO Contact
For technical assistance regarding the Yellow Book, please call (202) 512-9535 or e-mail yellowbook@gao.gov.
GAO Comment Letters
GAO provides comments to other standard-setting organizations’ proposals in letter form. The comment letters discuss technical issues related to ethics, quality control, accounting, auditing, and attestation standards. By issuing comment letters, GAO promotes the development of high quality government and private sector auditing standards, both domestically and internationally. Listed below are comment letters relating to auditing standards and other topics of interest to the accounting and auditing community.
November 4, 2022, letter commenting on FASAB's exposure draft, Intragovernmental Leasehold Reimbursable Work Agreements
September 30, 2022, letter commenting on AICPA's Board of Examiners' June 2022 Exposure Draft, Maintaining the Relevance of the Uniform CPA Examination – Aligning the Exam with the CPA Evolution Licensure Model
August 26, 2022, letter commenting on AICPA's Professional Ethics Executive Committee's June 2022 Exposure Draft, Proposed New and Revised Definitions and Interpretations: Compliance Audits
June 16, 2022, letter commenting on the AICPA's Exposure Draft, Proposed Statement on Auditing Standards – Special Considerations ⎯ Audits of Group Financial Statements (Including the Work of Component Auditors and Audits of Referred-to Auditors)
June 7, 2022, letter commenting on the International Ethics Standards Board for Accountants' Proposed Revisions to the Code Relating to the Definition of Engagement Team and Group Audits
February 8, 2022, letter commenting on International Auditing and Assurance Standards Board's Proposed International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (ISA for LCE)
July 29, 2021, letter commenting on AICPA's February 2021 Exposure Draft, "Proposed Statements on Quality Management Standards – Quality Management"
June 23, 2021, letter commenting on AICPA's Professional Ethics Executive Committee's Proposed Interpretations and Definition of the AICPA Code of Professional Conduct, Responding to Non-Compliance with Laws and Regulations
GAO Comments on AICPA Proposed SAS – Inquiries of the Predecessor Auditor Regarding Fraud and Noncompliance With Laws and Regulations
May 3, 2021, letter commenting on the International Ethics Standards Board for Accountants' January 2021 Exposure Draft, "Proposed Revisions to the Definitions of Listed Entity and Public Interest Entity in the Code"
February 1, 2021, letter commenting on IAASB's September 2020, Discussion Paper, Fraud and Going Concern in an Audit of Financial Statements: Exploring the Differences Between Public Perceptions About the Role of the Auditor and the Auditor's Responsibilities in a Financial Statement Audit
December 8, 2020, letter commenting on AICPA's September 2020, Proposed Interpretation of the AICPA Code of Professional Conduct, Staff Augmentation Arrangements
November 25, 2020, letter commenting on AICPA's September 2020 Exposure Draft, Proposed Statement on Auditing Standards – Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement
November 16, 2020, letter commenting on IPSASB’s February 2020 Exposure Draft 70, Revenue with Performance Obligations, Exposure Draft 71, Revenue without Performance Obligations, and Exposure Draft 72, Transfer Expenses
October 2, 2020, letter commenting on IAASB's Proposed ISA 600 (Revised), Special Considerations---Audits of Group Financial Statements (Including the Work of Component Auditors)
July 13, 2020, letter commenting on IAASB’s Consultation Paper, Proposed Non-Authoritative Guidance - Extended External Reporting (EER) Assurance
April 28, 2020, letter commenting on IESBA's January 2020 Exposure Draft, "Proposed Revisions to the Non-Assurance Services Provisions of the Code"
April 28, 2020 letter commenting on International Ethics Standards Board for Accountants' January 2020 Exposure Draft, "Proposed Revisions to the Fee-related Provisions of the Code"
April 27, 2020, letter commenting on AICPA’s December 2019 Exposure Draft and Invitation to Comment, “Maintaining the Relevance of the Uniform CPA Examination”
March 16, 2020, letter commenting on PCAOB's Concept Release, "Potential Approach to Revisions to PCAOB Quality Control Standards"
March 13, 2020 letter commenting on GAO's Response to the International Ethics Standards Board for Accountants' January 2020 Exposure Draft, Proposed Revision to the Code Addressing the Objectivity of Engagement Quality Reviewers
February 28, 2020 letter commenting on the American Institute of Certified Public Accountants Professional Ethics Division November 15, 2019 Consultation Paper, "Strategy and Work Plan"
January 31, 2020 letter commenting on American Institute of Certified Public Accountants Auditing Standards Board's November 2019 Consultation Paper, "Proposed Strategy and Work Plan"
November 20, 2019, letter commenting on AICPA’s August 2019 Exposure Draft, “Proposed Statement on Auditing Standards – Auditing Accounting Estimates and Related Disclosures
October 31, 2019, letter commenting on IESBA's July 2019 Exposure Draft, "Proposed Revisions to the Code to Promote the Role and Mindset Expected of Professional Accountants"
September 18, 2019, letter commenting on AICPA's June 2019 Exposure Draft, "Proposed Statement on Auditing Standards — Audit Evidence"
September 12, 2019, letter commenting on IAASB's Discussion Paper, "Audits of Less Complex Entities: Exploring Possible Options to Address the Challenges in Applying the ISAs"
August 5, 2019, letter commenting on AICPA's June 2019 Exposure Draft, "Proposed Statement on Auditing Standards and Proposed Statement on Standards for Attestation Engagements – Amendments to the Description of the Concept of Materiality"
July 1, 2019 letter commenting on IAASB’s February 2019 exposure draft, “Proposed International Standard on Quality Management 2 - Engagement Quality Reviews”
July 1, 2019 letter commenting on IAASB's February 2019 explanatory memo and exposure draft, "The IAASB's Exposure Drafts for Quality Management at the Firm and Engagement Level, Including Engagement Quality Reviews" and "Proposed International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements"
July 1, 2019 letter commenting on IAASB's February 2019 exposure draft, "Proposed International Standard on Auditing 220 (Revised), Quality Management for an Audit of Financial Statements"
June 26, 2019, letter commenting on IESBA's Exposure Draft, "Proposed Revisions to Part 4B of the Code to Reflect Terms and Concepts Used in ISAE 3000 (Revised)"
June 25, 2019, letter commenting on INTOSAI's Proposed International Standard of Supreme Audit Institutions 200, "Financial Audit Principles"
June 21, 2019, letter commenting on IAASB's Consultation Paper, "Extended External Reporting (EER) Assurance"
March 15, 2019, letter commenting on IAASB's Proposed International Standard on Related Services 4400 (Revised): "Agreed-Upon Procedures Engagements"
March 7, 2019, letter commenting on the AICPA's Professional Ethics Division's December 2018 Proposed Interpretation of the AICPA Code of Professional Conduct, "Staff Augmentation Arrangements"
November 2, 2018, letter commenting on IAASB's July 2018 Exposure Draft, "Proposed International Standard on Auditing 315 (Revised), Identifying and Assessing Risks of Material Misstatement and Proposed Consequential and Conforming Amendments to Other ISAs"
October 11, 2018, letter commenting on AICPA's July 2018 Proposed Statement on Standards for Attestation Engagements, "Revisions to Statement on Standards for Attestation Engagements No. 18, Attestation Standards: Clarification and Recodification"
August 14, 2018, letter commenting on IESBA's May 2018 Consultation Paper, "Professional Skepticism - Meeting Public Expectations"
May 15, 2018, letter commenting on AICPA's November 2017 Exposure Draft, "Proposed Statements on Auditing Standards - Auditor Reporting and Proposed Amendments - Addressing Disclosures in the Audit of Financial Statements"
February 8, 2018, letter commenting on the Monitoring Group's November 2017 Consultation Paper, "Strengthening the Governance and Oversight of the International Audit-Related Standard-Setting Boards in the Public Interest"
December 8, 2017, letter commenting on IESBA's September 2017 Exposure Draft, "Proposed Revisions to the Code Pertaining to the Offering and Accepting of Inducements"
December 1, 2017, letter commenting on AICPA's September 2017 Exposure Draft, "Proposed Statement on Standards for Attestation Engagements - Selected Procedures"
October 16, 2017, letter commenting on AICPA Professional Ethics Division's July 7, 2017 exposure draft "Proposed Interpretation and other guidance: State and Local Government Entities (formerly Entities Included in State and Local Government Financial Statements)"
August 31, 2017, letter commenting on IAESB's June 2017 Exposure Draft, "Proposed International Education Standard 7, Continuing Professional Development (Revised)"
August 30, 2017, letter commenting on PCAOB's June 1, 2017 Release No. 2017-003, "Proposed Amendments to Auditing Standards for Auditor's Use of the Work of Specialists"
August 30, 2017, letter commenting on PCAOB's June 1, 2017 Release No. 2017-002, "Proposed Auditing Standard - Auditing Accounting Estimates, Including Fair Value Measurements and Proposed Amendments to PCAOB Auditing Standards"
July 25, 2017, letter commenting on IAASB's April 2017 Exposure Draft, "Proposed International Standard on Auditing 540 (Revised), Auditing Accounting Estimates and Related Disclosures"
July 25, 2017, letter commenting on IESBA's May 2017 Exposure Draft, "Proposed Application Material Relating to Professional Skepticism and Professional Judgment"
May 15, 2017, letter commenting on AICPA's Professional Ethics Division's December 2016 Exposure Draft "Client and Attest Client: Proposed Revised Definitions of Client and Attest Client as well as Related Definitions, Interpretations, and Other Guidance"
May 12, 2017, letter commenting on AICPA's Professional Ethics Division March 2017 Proposed Interpretation, "Responding to Non-Compliance with Laws and Regulations"
April 25, 2017, letter commenting on IESBA's January 2017 Exposure Draft, "Proposed Revisions Pertaining to Safeguards in the Code--Phase 2 and Related Conforming Amendments"
September 30, 2016, letter commenting on COSO's June 2016 Exposure Draft, "Enterprise Risk Management: Aligning Risk with Strategy and Performance"
September 20, 2016, letter commenting on the Federal Accounting Standards Advisory Board's exposure draft entitled "Tax Expenditures: Management's Discussion and Analysis and Disclosure Requirements Exposure Draft"
August 15, 2016, letter commenting on PCAOB's May 2016 Release No. 2016-003 - "Proposed Auditing Standard - The Auditor's Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion and Related Amendments to PCAOB Standards"
July 29, 2016, letter commenting on PCAOB's April 2016 Release No. 2016-002 - "Proposed Amendments Relating to the Supervision of Audits Involving Other Auditors and Proposed Auditing Standard - Dividing Responsibility for the Audit with Another Accounting Firm"
May 16, 2016, letter commenting on the IAASB's December 2015 Invitation to Comment, "Enhancing Audit Quality in the Public Interest"
April 18, 2016, letter commenting on the IESBA's December 2015 Exposure Draft, "Improving the Structure of the Code of Ethics for Professional Accountants--Phase 1"
March 30, 2016, letter commenting on the FASAB's "Insurance Programs Exposure Draft"
March 21, 2016, letter commenting on the IESBA's December 2015 Exposure Draft, "Proposed Revisions Pertaining to Safeguards in the Code--Phase 1"
February 11, 2016, letter commenting on IPSASB's Consultation Paper: Recognition and Measurement of Social Benefits
January 29, 2016, letter commenting on the AICPA's November 2015 Exposure Draft, "Improving Transparency and Effectiveness of Peer Review"
November 24, 2015 letter commenting on AICPA's September 2015 Exposure Draft, "Maintaining the Relevance of the Uniform CPA Examination"
October 21, 2015, letter commenting on IAASB's July 2015 exposure draft, "Responding to Non-Compliance or Suspected Non-Compliance with Laws and Regulations"
September 29, 2015, letter commenting on PCAOB's July 2015 Release No. 2015-005: "Concept Release on Audit Quality Indicators"
September 3, 2015, letter commenting on IESBA's May 2015 exposure draft, "Responding to Non-Compliance with Laws and Regulations"
August 31, 2015, comment letter on the PCAOB's Release No. 2015-004 - Supplemental Request for Comment: Rules to Require Disclosure of Certain Audit Participants on a New PCAOB Form (June 30, 2015)
July 31, 2015, letter commenting on the PCAOB Staff Consultation Paper No. 2015-01, The Auditor's Use of the Work of Specialists (May 28, 2015)
June 2, 2015, letter commenting on AICPA's December 2014 Concept Paper, "Evolving the CPA Profession's Peer Review Program for the Future"
April 22, 2015 letter commenting on IAASB's 2015 exposure draft, Proposed International Standards on Auditing (ISA), ISA 800 (Revised), "Special Considerations - Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks, and ISA 805 (Revised), Special Considerations - Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement"
February 4, 2015, letter commenting on IESBA’s November 2014 Consultation Paper, “Improving the Structure of the Code of Ethics for Professional Accountants”
December 18, 2014, letter commenting on the AICPA's Proposed Statement on Standards for Attestation Engagements:"Reporting on an Examination of Controls at a Service Organization Relevant to User Entities' Internal Control Over Financial Reporting:Clarification and Recodification"
December 10, 2014, letter commenting on the ASB Exposure Draft "An Audit of Internal Control Over Financial Reporting That Is Integrated With an Audit of Financial Statements"
November 7, 2014, letter commenting on the AICPA's Discussion Paper: Enhancing Audit Quality - Plans and Perspectives for the U.S. CPA Profession
October 29, 2014, letter commenting on AICPA Professional Ethics Division Exposure Draft: Omnibus Proposal of Revised Interpretations
September 16, 2014, letter commenting on the AICPA Professional Ethics Division's June 2014 Exposure Draft, "Breach of an Independence Interpretation, Proposed Interpretation of the AICPA Professional Ethics Division"
September 9, 2014, letter commenting on IAASB's May 2014 Exposure Draft, "Proposed Changes to the International Standards on Auditing (ISAs) - Addressing Disclosures in the Audit of Financial Statements"
August 18, 2014, letter commenting on IESBA's May 2014 Exposure Draft, "Proposed Changes to Certain Provisions of the Code Addressing Non-Assurance Services for Audit Clients"
July 17, 2014, letter commenting on the IAASB's April 2014 Exposure Draft, "Proposed International Standard on Auditing (ISA) 720 (Revised), The Auditor's Responsibilities Relating to Other Information and Proposed Consequential and Conforming Amendments to Other ISAs"
May 22, 2014 letter commenting on the ASB Exposure Draft "Subject-Matter Specific Attestation Standards: Clarification and Recodification"
March 17, 2014, letter commenting on PCAOB's Rulemaking Docket Matter No. 029: PCAOB Release No. 2013-009: Improving the Transparency of Audits: Proposed Amendments to PCAOB Auditing Standards to Provide Disclosure in the Auditor's Report of Certain Participants in the Audit
December 11, 2013, letter commenting on PCAOB Rulemaking Docket Matter No. 034: PCAOB Release No. 2013-005: "Proposed Auditing Standard Related to the Auditor's Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion"; "the Auditor's Responsibilities regarding Other Information in Certain Documents Containing Audited Financial Statements and the Related Auditor's Report"; and "Related Amendments to PCAOB Standards"