AUDIT STANDARDS: The new audit
standards are now effective. If you need assistance all you have
to do is call and I will be happy to help you out any way that I can.
AUDIT RISK ALERT: Please read the current
Government Audit Risk Alert before you start (or finish) your next
government audit. There is also a Single Audit Risk Alert that you should
read if you are performing an A-133 audit.
In addition to the above there is a special Audit
Risk Alert on the new Auditing Standards.
YELLOW BOOK: The new Yellow Book was issued on
February 1, 2007. Go to www.gao.gov and click
on Government Auditing Standards (The Yellow Book) January 2007
Revision. The new Yellow Book is not currently effective, however
there are wording changes in it that conform to the new audit standards.
Also, the new audit standards will become effective prior to the new
Yellow Book. Just remember that the current Yellow Book adopts the
AICPA standards on a continuing basis and therefore as the new standards
become effective they will apply to Yellow Book audits.
SINGLE AUDIT NEWS: For the most current audit reports go to the
AICPA Government Quality Control Center homepage.
COMPLIANCE SUPPLEMENT:. OMB issues a revised Compliance Supplement
every Spring. The latest Compliance Supplement should be used in planning
all A-133 audits.
The
supplement is available through the OMB Home Page. Go to "Documents" then
go to "Grants Management" then see the A-133 literature.
Wizard 
