This guide provides guidance on the auditor's responsibilities when conducting an audit of financial statements in accordance with Government Auditing Standards. It also provides guidance on the auditor's responsibilities when conducting a single audit or program-specific audit in according with the Single Audit Act and the Uniform Guidance.
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This 2021 Audit Guide is an indispensable resource for auditors performing Yellow Book and Uniform Guidance compliance audits.
Due to the timing of the effective dates of SAS Nos. 134-140, this edition of the guide has been updated to reflect changes as a result of SAS Nos. 134-141. For auditors that are not early implementing SAS Nos. 134 – 140, it will be necessary for auditors to look back to the 2020 AICPA Audit Guide Government Auditing Standards and Single Audits (as of April 1, 2020) for the auditing guidance and illustrative auditor reporting in effect prior to SAS Nos. 134-140. The 2020 edition of the guide remains available in all formats on the AICPA store. This edition of the guide is relevant to auditors that have implemented SAS Nos. 134 – 140 early and generally for all audits of financial statements for periods ending on or after December 15, 2021 (or as specified by the individual standard).
This new edition has been updated for the 2020 revision to the Uniform Guidance and the 2021 technical update to Government Auditing Standards. It provides up-to-date information and expert guidance on single audits and Uniform Guidance compliance audit requirements, including example auditor reports for both the reporting required under Government Auditing Standards and the Uniform Guidance compliance audit. The illustrative auditor's reports have also been updated to reflect changes as a result of SAS Nos. 134-141.
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