Auditing in Government Organizations

Go to the General Accountability Office (GAO) Website to review the materials recently issued in “Yellow Book”, located athttp://www.gao.gov/yellowbook/overview. Compare and summarize the three (3) primary types of government audits: financial audits, attestation engagements, and performance audits. Examine how the GAO Yellow Book guides the audit process.

Go to the AICPA Website to review the materials on The Single Audit Act, located athttp://www.aicpa.org/Advocacy/Issues/Pages/AuditsofFederalFunds_SingleAudits.aspx. Discuss major provisions and implications of the Single Audit Act and identify to whom it applies.