The Yellow Book: From Beginning to End

Salepage : The Yellow Book: From Beginning to End
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A comprehensive review of the July 2018 version of the U.S. Government Accountability Office’s Government Auditing Standards, otherwise known as “the Yellow Book.”  The standard will affect all auditors who perform audits of government and nonprofit organizations who receive federal funds, or where application of GAO standards is required by law, regulation or contract.  It does not address the standards applicable to performance audits.

Basic Course Information

Learning Objectives

• To enable staff performing and managers reviewing audits under Government Auditing Standards to understand and apply the GAO standards

Major Subjects

• Introduction
• Foundation and principles
• General requirements for complying with Government Auditing Standards
• Ethics, independence and professional judgment
• Competence and continuing professional education
• Quality control and peer review
• Standards for financial audits
• Standards for attestation engagements and reviews of financial statements

1976. Michael Inzina, CPA, CGFM, CGMA is founder and chief executive officer of Audit Litigation Training and Efficiency Consulting, Inc. (ALTEC), a consulting company serving public accounting firms and other accounting and auditing organizations on matters of audit efficiency, continuing education, litigation and ethics.  In 2020 he retired from public practice with 44 years of experience, concentrated in financial institutions, government and nonprofits organizations.  Mike holds a BBA in accounting from the University of Louisiana (Monroe), where he graduated summa cum laude in May 1976.  He is a member of the American Institute of CPAs, Society of Louisiana CPAs, Government Finance Officers Association of Louisiana, and the Association of Government Accountants.  Mike earned the CEA in governmental in 1990, was awarded the Certified Government Financial Manager (CGFM) designation in 1996, and the Chartered Global Management Accountant (CGMA) designation in 2012.  He is a past chapter president and member of the Society of Louisiana CPAs Board of Directors and served two terms as chairman of the Governmental Positive Enforcement Program of the Louisiana State Board of CPAs.  He has served on a number of committees of the Society of Louisiana CPAs, and currently serves on its Ethics Committee.  Mike also served on the GASB Service Efforts and Accomplishments Task Force.                  

Mike has twice been a member of the AICPA Professional Ethics Executive Committee (1989-1992 and 2000-2003), and served on the Auditing Standards Board from 1997 to 2000.  From 1986 to 1993, he also served as a member of AICPA Independence and Behavioral Standards Subcommittee, and as Subgroup Chairman of the Governmental Technical Standards Committee.  During this time, he conducted numerous investigations of complaints filed by federal, state and local agencies alleging substandard performance of audits of governmental and nonprofit entities, and represented the Professional Ethics Division at hearings of the Joint Regional Trial Board.

He contributed to the Implementation Guide for GASB Statement 34, AICPA Statement of Position 98-3, Audits of States, Local Governments and Not-for-Profit Organizations Receiving Federal Awards, revisions to the AICPA Audit and Accounting Guide, Audits of State and Local Governmental Units, the AICPA Practice Aid Fraud Detection in a GAAS Audit, revisions to the Louisiana Governmental Audit Guide and in drafting state legislation affecting governmental accounting and auditing requirements. He has served as technical consultant and instructor for the Louisiana Division of Administration (Office of Community Development) and as consultant to the Louisiana Department of Education.  Mike frequently appears as moderator and panelist on the Accountants’ CPE Network. (ACPEN).

Mike has been named thirteen times as an Outstanding Instructor by the American Institute of CPAs and several state societies, and received a Special Recognition Award from the Society of Louisiana CPAs Board of Directors for his contributions to continuing education in 1994. In addition, he was awarded the 2001 National Education and Training Award from the Association of Government Accountants and in 2009 was named national Beta Alpha Psi Business Information Professional of the Year.  In 2016, Mike received the Distinguished Service Award from the Society of Louisiana CPAs.

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