Government Auditing Standards and Circular A-133 Audits -- AICPA Audit Guide

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 provides up-to-date information for both the ASB Clarity Project and the 2011 revision of Government Auditing Standards. In addition, it covers: • The 2011 revision of Government Auditing Standards and how to apply the standards to single audits. Includes the new requirements related to auditor independence. • Updated auditor reports for both the financial statement audit and the compliance audit. • 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 OMB A-133 compliance audit. • Information on the complexities of audits performed under Government Auditing Standards and Circular A-133. • Strategies to ensure your Yellow Book auditor's reports are in compliance with the clarified auditing standards and the 2011 revision of Government Auditing Standards.