About This Chapter
Auditing Standards & Governance - Chapter Summary
Although you may know that auditors need to uphold a set of standards, you may not remember all the details about those standards, which is why you should check out this chapter. These lessons can reacquaint you with the Generally Accepted Government Auditing Standards (GAGAS), how the standards are used, and related concepts. After you complete this chapter, you will have gone over the following:
- GAGAS application examples
- The relationship and impact of auditing standards
- Responsibilities of public sector governance
- Rules of conduct and principles of the IIA Code of Ethics
To verify how much of this information you are retaining about auditing standards, try taking our lesson quizzes. The short quizzes have been designed to make sure you understand the most essential points of the lesson. Questions on the quizzes may ask you about definitions, terms, individuals, or concept explanations. You may even be asked to apply concepts to solve problems or to make decisions. Each quiz question gives you multiple answers to choose from. After you complete all the questions, your score is shown on screen. When you miss questions, you will have the option to see the part of the lesson that shows the correct answer.
Recognize that you can take the quizzes at any time, either before or after you view a lesson. Quizzes are not required, but they are a useful tool to help you get ready for upcoming exams or determine how much information you comprehended.
1. Generally Accepted Government Auditing Standards: Definition & Use
Do you know the difference between the Yellow Book and the Yellow Pages? This lesson will explain the former, how it relates to Generally Accepted Government Auditing Standards and the five basic components it covers.
2. Examples of GAGAS Application
Let's take a look at how auditors fulfill their professional obligations. Namely, these obligations are fulfilled under the provisions of the Generally Accepted Government Auditing Standards (GAGAS).
3. Auditing Standards: Role, Impact & Relationship with GAGAS
In this lesson, we discuss the role and impact of auditing standards. We will also go over how these standards relate to GAGAS (Generally Accepted Government Auditing Standards).
4. Governance in the Public Sector: Responsibilities & Examples
In this lesson, we discuss the role of governance in the public sector. We discuss their principles and responsibilities as well as the importance of an audit committee to enforce the governance.
5. IIA Code of Ethics: Principles & Rules of Conduct
As the international professional organization for auditors, the Institute of Internal Auditors (IIA) develops standards for the auditing industry. In this lesson, we will introduce and discuss the Code of Ethics found in those standards.
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Other chapters within the CGAP Exam Study Guide - Certified Government Auditing Professional course
- Risk/Control Frameworks in Auditing
- Government Auditing Practices: The Audit Function
- Types of Government Audit Services
- Process for Delivery of Audit Services
- Government Auditing Skills & Techniques
- Evaluating Quantitative & Qualitative Data
- Government Auditing: Financial Management
- Implications of Audit Service Delivery Methods
- Implications of Delivering Audit Services to Citizens
- Unique Characteristics of Human Resources Management
- Unique Purchasing & Procurement Requirements
- CGAP Exam Study Guide - Certified Government Auditing Professional Flashcards