NEW! Updated Clarity Illustrative Reports - Government Auditing Standards, OMB Circular A-133, U.S. Housing and Urban Development and State and Local Governments

The GAQC has released illustrative reports updated for the clarity auditing standards and the 2011 Government Auditing Standards on the GAQC Web site.  The reports released to date include excerpts of the AICPA Audit Guide Government Auditing Standards and Circular A-133 Audits (described in more detail below).  In the near term, additional reports will also be posted that are excerpts from the AICPA Audit and Accounting Guide, State and Local Governments.  Additionally, the GAQC has posted a link to the illustrative reports for audits of for-profit entities subject to the HUD Consolidated Audit Guide.  Learn more and access updated illustrations.

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

The AICPA Audit Guide, Government Auditing Standards and Circular A-133 Audits (Guide) presents guidance on the audits of financial statements conducted in accordance with Government Auditing Standards (also referred to as the Yellow Book). It also includes recommendations for the conduct of audits performed in accordance with the Single Audit Act Amendments of 1996 (the Single Audit Act) and Office of Management and Budget (OMB) Circular A–133, Audits of States, Local Governments, and Non-Profit Organizations (Circular A-133). If you perform audits under either the Yellow Book or Circular A-133, this Guide is a key resource that should be in your library. The Guide also includes examples of the various reports that are issued to comply with Government Auditing Standards and Circular A-133.  Information and sample report wording related to the requirements of SAS No. 119 (which is now fully effective for all entities) has been fully incorporated into guide content. Many of the report examples included on this Web site for your convenience are excerpts from the Guide.

You should also be aware that the Guide is updated on an annual basis. The AICPA last updated the Guide for conforming changes as of February 1, 2012.  The 2012 edition includes significant updates on technical guidance contained in:

• SAS No. 119, Supplementary Information in Relation to the Financial Statements as a Whole. 
• Updated compliance considerations for auditors performing engagements that include Recovery Act awards.
• Government Auditing Standards, December 2011 Revision.

Appendix A provides a summary of the 2011 revision to Government Auditing Standards, Appendixes B and C contain information related to the clarity project including a summary of substantive changes and a chart mapping AU sections to AU-C sections.   You can purchase a copy of the Guide online or call AICPA Member Services at 888.777.7077 (product number is AAGGAS12P).  The 2012 edition is currently available.


Quick Links to Pre-Clarity Illustrative Reports 

• Government Auditing Standards Report Illustrations
• OMB Circular A-133 Report Illustrations
• U.S. Department of Housing and Urban Development Report Illustrations
• State and Local Government Financial Statement Illustrative Auditor’s Reports Modified to Reflect the Requirements of SAS Nos. 118-120