The purpose of this archived Governmental Audit Quality Center (GAQC) Web event is to provide you with information about the major changes that the Government Accountability Office (GAO) is proposing to the 2007 edition of Government Auditing Standards (also known as the Yellow Book) in the Exposure Draft (ED) titled, Government Auditing Standards 2010 Exposure Draft, and how to comment on the Yellow Book ED.
The GAO issued proposed changes to the 2007 edition of the Yellow Book on August 23, 2010. The GAO states that the proposed changes reflect major developments in the accountability and audit profession and emphasize specific considerations applicable to the government environment. In keeping with the mission of the Center to improve governmental audit quality and to help you understand how the proposed changes might affect your Government Auditing Standards audit engagements, we hosted this archived GAQC Web event.
In addition to learning about the significant proposed changes to the Yellow Book, participants asked questions about the ED directly to GAO staff. Further, the event also included the director of the AICPA Professional Ethics Division and a CPA firm member of the GAO's Advisory Council on Government Auditing Standards, who is also very familiar with the with the AICPA's independence rules. These presenters bring an important perspective to the presentation in that one of GAO's stated reasons for proposing changes to the auditor independence rules is to achieve further harmonization with the AICPA's rules. They also answered questions from participants during the presentation.
About the Presenters
James R. Dalkin, CPA, is a Director in GAO's Financial Management & Assurance Division. Among Jim's responsibilities are the overall responsibility for revising Government Auditing Standards (the Yellow Book); Standards for Internal Control in the Federal Government (the Green Book); and GAO's work with the accounting and auditing profession. In addition, Jim is an adjunct professor at Georgetown University teaching finance and accounting in the graduate and undergraduate programs.
Nancy Miller, CPA, is a partner in the Miller Foley Group (MFG), a GAQC member firm in Fredericksburg, Virginia. The firm specializes in services to the non-profit and governmental sectors. Nancy chairs the government subgroup of the AICPA Technical Standards Subcommittee of the Professional Ethics Enforcement Committee which has investigated over 400 Yellow Book ethics investigations in the last three years. Additionally, Nancy serves as a member of the GAO's Advisory Council on Government Auditing Standards and is a peer reviewer.
Lisa Snyder, CPA, is the director of the AICPA's Professional Ethics Division and oversees its ethics enforcement and standard-setting. The Division is also responsible for interpreting the Institute's Code of Professional Conduct and provides guidance to membership, state CPA societies, and other interested parties on ethics and independence issues. Lisa serves as liaison to the Professional Ethics Executive Committee, the Independence Behavioral Standards Subcommittee and the Technical Standards Subcommittee. She also serves as the technical advisor to the U.S. representative on the (IFAC) International Ethics Standards Board for Accountants.
Mary Foelster, CPA, is a Director at the AICPA where her primary responsibility is to address governmental auditing and accounting matters. She oversees the activities of the GAQC and staffs both the GAQC Executive Committee and the State and Local Government Expert Panel. In addition to managing the activities of the Center and various technical projects, Mary is also responsible for monitoring and analyzing federal regulatory and legislative developments affecting auditing or accounting in governmental environment. Mary is a graduate of the University of Maryland.
Archived Web Event Listening Instructions
The presenters addressed many of the questions within the time allotted for the event. We encourage you to visit the forum to post additional follow-up questions at GAQC Member Discussion Forum.
Thank you for your interest in this GAQC Event.
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