A significant challenge facing many auditors is determining and documenting their independence under generally accepted government auditing standards (GAGAS). All professional involved in audits performed in accordance with GAGAS should have a working knowledge of the independence requirements imposed by the 2018 Yellow Book.
DESIGNED FOR
Anyone involved in GAGAS audit as well as anyone who want a firmer grasp on independence.
BENEFITS
After attending this presentation you will be able to:
- Identify requirements related to determining and documenting independence under the 2018 Government Auditing Standards
- Recall core concepts fundamental to documenting independence when the auditor prepares the financial statement in their entirety
- Recall core concepts related to your clients' skills, knowledge, or experience (SKE)
- Recognize clarifications related to non-attest services that always impair independence
- Recall significant independence requirements contained in 2018 Government Auditing Standards
HIGHLIGHTS
The major topics that will be covered in this class include:
- Key changes to documenting independence in an audit conducted in accordance with GAGAS
- Enhanced documentation required once a significant threat has been identified and the safeguards applied
- Clarifications related to certain services that always impair independence
- Clarification related to when the conceptual framework must be used
- Clarifications related to determining if clients possess suitable skills, knowledge or experience to take responsibility for the non-attest services provided by auditors
- Other important matters contained in the 2018 Government Auditing Standards related to independence
COURSE LEVEL
Basic
PREREQUISITES
None
ADVANCE PREPARATION
None