2007 revision of government auditing standards issued.The U.S. Government Accountability Office The Government Accountability Office (GAO) is the audit, evaluation, and investigative arm of the United States Congress, and thus an agency in the Legislative Branch of the United States Government. has issued the Jan. 2007 revision of Government Auditing Standards. The standards emphasize the critical role of government audits in achieving credibility and accountability in government, with an increased focus on the ethical principles underlying the work of those who audit government programs and activities. This new version, which supersedes the 2003 revision, contains the final 2007 revisions to the standards, except for the quality control and peer review sections in chapter 3. Concurrent At the same time. It implies that multiple processes are taking place simultaneously. See concurrent operation. with the electronic issuance of this revision of the Yellow Book, the GAO is exposing for comment redrafted sections on quality control and peer review in response to the wide range of comments it received on those sections. The complete 2007 revision of Government Auditing Standards will be available after the quality assurance and peer review sections are finalized See finalization. and incorporated into the standards. It will be effective for financial audits and attestation The act of attending the execution of a document and bearing witness to its authenticity, by signing one's name to it to affirm that it is genuine. The certification by a custodian of records that a copy of an original document is a true copy that is demonstrated by his or her engagements for periods beginning on or after Jan. 1, 2008, and for performance audits beginning on or after Jan. 1, 2008. Early implementation is permissible per·mis·si·ble adj. Permitted; allowable: permissible tax deductions; permissible behavior in school. per·mis and encouraged. Electronic versions of the documents can be accessed on the Web: [email] www.gao.gov/govaud/bk01.htm |
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