This session provides an update of changes in governmental and U.S. auditing standards including the revised Yellow Book. Session will share a comparison of the 2011 Yellow Book and the 2018 Yellow Book. We will also discuss the possible implementation issues, challenges, and easy to-dos when implementing these new standards.
1. Recall the new Yellow Book standards.
2. Identify changes introduced in the 2018 Yellow Book.
3. Recognize effective dates and timing for changes identified.