The Yellow Book contains performance and reporting requirements related to internal control deficiencies. This course is designed to help you understand these requirements and excel in applying them. We will also examine where the auditor draws the line as to whether an internal control deficiency is a significant deficiency or a material weakness.
Learning Objectives
- Obtain a thorough working knowledge of the Yellow Book requirements related to internal control deficiencies
- Understand the thought process an auditor uses for developing and writing a Yellow Book internal control finding
Major Topics
- The Yellow Book performance and reporting requirements related to internal control deficiencies
- Evaluating whether an internal control deficiency should be reported as a significant deficiency or a material weakness
- How the auditor develops the criteria, condition, cause, and effect elements of a Yellow Book finding
