The 2018 Yellow Book addresses key concepts of ethics including the public interest, integrity, objectivity, and professional behavior. This course will review the key concepts and their application to auditors in a governmental environment. We’ll also review changes to the independence standards in the 2018 Revision.
Publication Date: March 2022
Designed For
Ideal for CPAs in public practice.
Topics Covered
- Ethical principles
- Independence
- Conceptual Framework
- Audit Organizations Inside Government Entities
- Internal Auditors
- Nonaudit Services
- Preparing Accounting Records and Financial
- Key Services
- Documentation
- Professional Judgment
Learning Objectives
- Identify changes to independence rules in the 2018 Yellow Book
- Recognize the ethical principles in GAGAS
- Describe the threat that influences or pressures from sources external to the audit organization will affect an auditor's ability to make objective judgments
- Identify correct statements regarding structurally located organizations
- Recognize safeguards for non-audit services
- Identify what is not considered to be routine when analyzing nonaudit services
- Recognize prohibited management responsibilities
- Identify which benchmark is used to determine if a person is acting with independence
- Describe routine activities
Level
Intermediate
Instructional Method
Self-Study
NASBA Field of Study
Regulatory Ethics (2 hours)
Program Prerequisites
Prior experience with Yellow Book.
Advance Preparation
None
Instructor
Melisa Galasso
Melisa Galasso, CPA, is the founder of Galasso Learning Solutions LLC. With over 15 years of experience in the accounting profession, Melisa designs and facilitates courses in advanced technical accounting and auditing topics, including not for profit and governmental accounting. She also supports essential professional development, public speaking, and business skills. Melisa closely monitors regulatory bodies for changes in auditing and accounting guidance and serves as a subject matter expert in implementing the updated guidance.
Melisa earned the Association for Talent Development (ATD) Master Trainer™ designation. She is a member of and frequent instructor for the American Institute of Certified Public Accountants (AICPA), the North Carolina Association of Certified Public Accountants (NCACPA), and the Virginia Society of Certified Public Accountants (VSCPA).
Melisa was appointed in 2016 to the AICPA’s Technical Issues Committee (TIC), which is responsible for monitoring the activities of the various accounting and attestation standard-setting boards and submitting comments and recommendations during the due process phase. Melisa is also currently serving on the Board of Directors for the VSCPA. Previously, she served as President of the Board of NCACPA’s Charlotte Chapter, Chair of the A&A Committee for the NCACPA, and held several leadership positions with the VSCPA.
Melisa received the 2013 Women to Watch – Emerging Leader Award from the NCACPA and AICPA. She is a graduate of the 2014 class of the AICPA’s Leadership Academy. In 2016, Melisa was honored as one of the 50 Most Influential Women by the Mecklenburg Times and received the Top 5 Under 35 Award from the VSCPA. She received a 5.0 Speaker award from the NCACPA in 2015, 2016 and 2017. In 2016, Melisa received the Don Farmer Award from the NCACPA for the highest combined average scores on knowledge, skills, and materials from participant evaluations for all courses taught in a technical area. Melisa is a 2017 and 2018 recipient of the AICPA’s Outstanding Discussion Leader award which is given to the top 10% of all AICPA facilitators around the country.
Prior to establishing Galasso Learning Solutions, Melisa worked in public accounting, industry, internal audit, and academia. She received a Bachelor of Science in Business Administration with a concentration in Accounting and International Business from Georgetown University.