What an Audit Means to You: Working with the Auditors and Surviving an Audit Course

Module 1: Overview of The Government Auditing Standards

• Understand the foundational principles and application of GAGAS (“Yellow Book”).
• Explore ethics, independence, and professional judgment for auditors.
• Learn about continuing education and licensing requirements for audit professionals.
• Examine the standards for various audit types: financial, attestation, and performance.
• Understand peer review, quality control, and fraud assessment in audits.

Module 2: Authority, Responsibilities, and Duties of the OIG Auditors – The IG Act of 1978

• Review the historical context of the Inspector General's role, including key cases like Billy Sol Estes.
• Explore the provisions, authority, and responsibilities outlined in the IG Act.
• Understand IG appointment and removal processes and administrative powers.
• Discuss the role of whistleblower protections and statutory reporting requirements.
• Identify mechanisms for oversight, including congressional reporting and budget independence.

Module 3: Steps in the Audit Process

• Distinguish between statutory, stakeholder-requested, and discretionary audits.
• Understand the audit phases: planning, fieldwork, findings, reporting, and resolution.
• Learn to define audit objectives, scope, and methodology.
• Examine evidence collection techniques and how to develop actionable recommendations.
• Understand audit communication strategies, including entrance and exit conferences.

Module 4: Standards for Internal Control – The GAO Green Book

• Learn the purpose and function of internal control in public sector auditing.
• Study OMB Circular A-123 and FMFIA for managing federal internal controls.
• Understand how management addresses deficiencies through documented corrective actions.
• Interpret Green Book components: control environment, risk assessment, activities, communication, and monitoring.
• Recognize how internal audits ensure efficient operations and legal compliance.

Module 5: Types of Audits

• Identify and compare performance, contract, grant, compliance, and financial audits.
• Understand requirements under 2 CFR § 200, including single audit thresholds and scope.
• Review audit preparation procedures and documentation for grants and contracts.
• Interpret financial statements and audit findings follow-up.
• Explore auditor selection processes and compliance responsibilities of the auditee.

Module 6: Audit Resolution and Follow-Up

• Understand OMB Circular A-50 and its 180-day resolution requirement.
• Learn the role of Corrective Action Plans (CAPs) and how they support accountability.
• Review reporting requirements for unimplemented audit recommendations.
• Explore escalation procedures for unresolved audit disagreements.
• Study federal reporting laws like the GAO-IG Act and IG Empowerment Act.