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| Government Accountability Office Government Auditing Standards | |
|---|---|
| Name | Government Accountability Office Government Auditing Standards |
| Abbreviation | GAGAS |
| Issued by | Government Accountability Office |
| First issued | 1972 |
| Latest revision | 2018 |
| Also known as | Yellow Book |
Government Accountability Office Government Auditing Standards provide authoritative criteria for auditors conducting audits and attestation engagements related to United States federal government programs, operations, and financial statements. The standards guide auditors from federal audit organizations, state auditor offices, and private public accounting firms in planning, performing, and reporting engagements affecting Congress, Executive Office of the President, and federal agencies such as the Department of Defense, Department of Health and Human Services, and Social Security Administration. They emphasize independence, objectivity, and competence, aligning with other professional standards used by American Institute of Certified Public Accountants, International Organization of Supreme Audit Institutions, and Institute of Internal Auditors frameworks.
GAGAS integrates requirements and guidance for audits of financial statements and performance audits involving entities like the Securities and Exchange Commission, Treasury Department, Centers for Medicare & Medicaid Services, Environmental Protection Agency, and Federal Reserve System. The standards address auditors’ responsibilities toward Congressional oversight, state legislatures, and stakeholders including Government Accountability Office requesters, Inspector General offices, and Office of Management and Budget components. They interact with standards issued by Public Company Accounting Oversight Board, Financial Accounting Standards Board, and International Auditing and Assurance Standards Board and inform practices at institutions such as the Federal Deposit Insurance Corporation, National Aeronautics and Space Administration, and National Institutes of Health.
GAGAS originated amid mid-20th century reforms responding to oversight needs raised by events like the Watergate scandal, Vietnam War program reviews, and evolving federal procurement controversies. The Government Accountability Office first consolidated audit guidance in the 1970s, updating the framework after regulatory milestones including the Chief Financial Officers Act of 1990, the Government Performance and Results Act of 1993, and the Sarbanes–Oxley Act of 2002. Revisions have reflected input from entities such as the National Association of State Auditors, Comptrollers and Treasurers, Association of Certified Fraud Examiners, and international bodies like the INTOSAI Development Initiative. Influential GAO reports and testimony to Congressional committees have driven changes, with major reorganizations occurring in 1994, 2007, and the prominent 2018 revision.
The standards are organized into core components including general standards, standards for fieldwork, and standards for reporting, paralleling frameworks used by American Institute of Certified Public Accountants and Institute of Internal Auditors. Core principles require auditor independence akin to mandates seen in Inspector General Act of 1978 contexts, professional judgment expected of members of Accounting Standards Codification bodies, and competence comparable to certified public accountant qualifications. Ethical requirements intersect with guidance from the Office of Government Ethics, Ethics in Government Act of 1978, and professional codes such as those of the Association of International Certified Professional Accountants and National Society of Accountants.
GAGAS applies to a range of engagements: financial audits of entities including the National Science Foundation and Department of Education; performance audits examining programs like Medicare and Supplemental Nutrition Assistance Program; attestation engagements analogous to reviews performed for Pension Benefit Guaranty Corporation; and compliance audits tied to statutes such as the Single Audit Act requirements affecting state governments and local governments. Specialized engagements include audits of information systems supporting agencies like the Federal Aviation Administration and Homeland Security components, as well as fraud-related work coordinated with Federal Bureau of Investigation and Office of Inspector General investigations.
Fieldwork standards mandate planning, understanding internal control as practiced in agencies like the Department of Education, documentation of evidence consistent with Federal Records Act expectations, and use of sampling techniques comparable to guidance from the American Statistical Association in large data examinations. Reporting standards address issuing findings and recommendations for bodies such as Congressional committees and state legislatures, communicating with management at entities like the Department of Veterans Affairs, and ensuring reports meet disclosure norms similar to those in Financial Accounting Standards Board pronouncements. Requirements for audit documentation, sufficiency of evidence, and reporting transparency reflect interactions with Government Performance and Results Act oversight and Freedom of Information Act considerations.
GAGAS prescribes quality control systems for audit organizations, aligning with peer review models used by the American Institute of Certified Public Accountants and peer oversight in INTOSAI contexts. Audit organizations such as state auditors’ offices, the Comptroller General’s office, and private firms must establish policies on personnel qualifications, continuing professional education in areas like information technology auditing and fraud examination, and monitoring mechanisms paralleling those in the Public Company Accounting Oversight Board inspection program. External peer reviews, often coordinated among bodies including the National State Auditors Association and regional audit councils, assess compliance and recommend corrective actions.
Auditors implement GAGAS in planning engagements at agencies such as the Department of Energy, conducting audits for Congress and Inspector General requests, and preparing reports that influence legislation and oversight by committees like the House Committee on Oversight and Reform and the Senate Committee on Homeland Security and Governmental Affairs. Training programs draw on curricula from National Academy of Public Administration, George Washington University public auditing courses, and professional associations including the Association of Government Accountants and Association of Local Government Auditors. Compliance with GAGAS informs litigation support in courts including the United States Court of Federal Claims and shapes accountability frameworks within organizations like the Corporation for National and Community Service.
Category:Auditing standards