This guide is an indispensable resource for auditors performing audits of financial statements in accordance with Government Auditing Standards, and compliance audits in accordance with OMB Circular A-133. Use this valuable tool to assist in dealing with the special considerations required in a single audit.
This edition, updated as of February 1, 2013, provides up-to-date information for both the ASB Clarity Project and the 2011 revision of Government Auditing Standards. Also includes updated auditor reports for both the financial statement audit and the compliance audit.
This Guide includes discussion related to:
The 2011 revision of Government Auditing Standards and how to apply the standards to single audits. Includes the new requirements related to auditor independence.
The revised relationship between Government Auditing Standards and AICPA GAAS, and how these revisions affect performing audits.
How the clarified auditing standards and 2011 revision of Government Auditing Standards affect your financial statement audit and OMB A-133 compliance audit.
Information on the complexities of audits performed under Government Auditing Standards and Circular A-133.
Strategies to ensure that the auditor’s reports required in a single audit are in compliance with the clarified auditing standards and the 2011 revision of Government Auditing Standards.