Ch 1: Auditing Standards & Governance

About This Chapter

Bring back what you learned about auditing standards and governance by reviewing this chapter. Open up the lessons to refresh your memory about the framework of standards that auditors use, the duties of auditing committees, and other key details.

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.

5 Lessons in Chapter 1: Auditing Standards & Governance
Test your knowledge with a 30-question chapter practice test
Generally Accepted Government Auditing Standards: Definition & Use

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.

Examples of GAGAS Application

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).

Auditing Standards: Role, Impact & Relationship with 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).

Governance in the Public Sector: Responsibilities & Examples

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.

IIA Code of Ethics: Principles & Rules of Conduct

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.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

Earning College Credit

Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.

To learn more, visit our Earning Credit Page

Transferring credit to the school of your choice

Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.

Support