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

This guide summarizes new standards, guidance, and practices, and delivers "how-to" advice for handling audit issues significant to entities subject to Government Auditing Standards and OMB Circular A-133. Whether you are preparing your entity’s financial statements or performing an audit engagement, the AICPA audit guide Government Auditing Standards and OMB Circular A-133 Audits provides you with the latest information on auditing issues and related financial statement considerations.

Updated with conforming changes as of April1, 2010, the guide includes relevant guidance contained in official standards and other technical sources issued through that date. This year’s edition has been updated for SAS No. 117, Compliance Audits, which is effective for fiscal periods ending on or after June 15, 2010. The guide offers practical guidance on recent developments in areas such as risk assessment and sampling in a compliance audit and internal control over compliance.

The guide also contains illustrative reports required by OMB Circular A-133 that have been updated to reflect the guidance in SAS No. 115 and SAS No. 117.  In addition, compliance audit considerations related to Recovery Act awards is included in Part 2 of the guide. All content is reviewed by industry experts and approved by the appropriate AICPA senior technical committee(s).

For a topical listing of subject matter by chapter, click on the Table of Contents tab.