GAO issues 2024 ‘Yellow Book,’ updating the standards for government auditing
This month, the U.S. Government Accountability Office (GAO) issued the 2024 revision of Government Auditing Standards, also known as the Yellow Book.
These standards, commonly referred to as generally accepted government auditing standards (GAGAS), provide a framework that auditors around the world use to perform high-quality audit work when reviewing government programs and spending. This revision provides updates to the 2018 version.
“This latest update enhances and modernizes the standards to perform high-quality audit work with competence, integrity, objectivity, and independence using a proactive and risk-based approach,” said Gene L. Dodaro, Comptroller General of the United States and the head of the GAO. “Implementation of these standards leads to greater accountability of government spending and improved services and operations.”
The 2024 revision enhances how audit organizations manage audit quality. Effective quality management can reasonably assure an audit organization that its people, audits and reports adhere to professional standards and applicable laws. Updates include:
• A change in approach from quality control to quality management;
• A risk-based process for achieving the objectives of quality management;
• Provisions for optional engagement quality reviews of GAGAS engagements; and
• Application guidance on key audit matters for financial audits.
The 2024 revision of Government Auditing Standards has gone through an extensive deliberative process, including public comments. The views of all parties were thoroughly considered in finalizing the standards. This revision requires an audit organization to design and implement its system of quality management by Dec. 15, 2025.
The updated Yellow Book is available in hardcopy and digital formats. Hardcopies will be available from the Government Printing Office in the near future, while digital copies can be found on GAO’s website at https://www.gao.gov.
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