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 common to entities subject to audits under Government Auditing Standards and OMB Circular A-133.

Updated as of April 1, 2011, the guide includes relevant guidance contained in applicable standards and other technical sources. Whether performing an audit of financial statements under Government Auditing Standards or a compliance audit under OMB Circular A-133, the Government Auditing Standards and Circular A-133 Audits guide provides the latest information on auditing and reporting in a single audit. The guide has been updated for the guidance found in SAS No. 117, Compliance Audits and, in addition, offers clear and practical guidance in areas such as risk assessment, internal control and audit sampling. All content is reviewed by industry experts and approved by the appropriate AICPA senior technical committee(s).

Updates significant to this edition include technical guidance contained in:

• SAS No. 119, Supplementary Information in Relation to the Financial Statements as a Whole
• Updated compliance audit considerations for auditors performing engagements that include Recovery Act awards.

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