The July 2007 revision of Government Auditing Standards has been issued. Commonly referred to as the “Yellow Book,” the standards, which were first published in 1972, cover federal entities and those organizations receiving federal funds.
The July 2007 revision of Government Auditing Standards supersedes the 2003 revision, represents the completed 2007 revision of Government Auditing Standards, and is the version that should be used by government auditors until further updates and revisions are made.
The July 2007 revision should be used in conjunction with the Government Auditing Standards: Answers to Independence Questions (GAO-02-870G, July 2002) and Government Auditing Standards: Guidance on GAGAS Requirements for Continuing Professional Education (GAO-05-568G, April 2005).
