On April 14, the GAO issued a technical update to the 2018 Yellow Book. I will be writing more about this in future newsletters, but wanted to alert you to these changes as soon as possible.
Most of the changes impact performance auditors.
The GAO has thankfully reversed their requirement that all 17 principles of internal control be applied to each engagement and described in the scope section of the audit report. Hallelujah! That was a level of granularity that few teams were willing to embrace and I am so glad that it is gone!
Also, the GAO is adding language regarding the ‘equity’ of government programs.
Again, more on this later as I get a chance to study it. But I wanted you to be one of the first to know.
Here is the link: https://www.gao.gov/assets/gao-21-368g.pdf
Check out pages i and ii!
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