Week 10 Discussion

The General Accountability Office (GAO) issues standards for the audits of governmental organizations, programs, activities, and functions that are commonly referred to as the Yellow Book.

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Review the latest publication of the Yellow Book on the GAO website, specifically the following sections:

Application Guidance: Complying with GAGAS.

Relationship between GAGAS and other Professional Standards.

In what significant way do financial audits in government and not-for-profit organizations differ from those carried on in business?

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