Financial Audit Manual Update To Volume 2

This book contains Volume 2 and Volume 3 of the FAM The U.S. Government Accountability Office (GAO) and the President's Council on Integrity andEfficiency (PCIE) maintain the GAO/PCIE Financial Audit Manual (FAM). The FAM provides guidancefor performing financial statement audits of federal entities. The FAM is a key tool for enhancingaccountability over taxpayer-provided resources. The FAM consists of 3 volumes: Volume 1 Audit Methodology GAO-08-585G: Jul 25, 2008 Volume 2 Audit Tools GAO-08-586G: Jul 25, 2008 Volume 3 Checklist GAO-07-1173G: Aug 28, 2007 Why buy a book you can download for free? We print this book so you don't have to. First you gotta find a good clean (legible) copy and make sure it's the latest version (not always easy). Some documents found on the web are missing some pages or the image quality is so poor, they are difficult to read. We look over each document carefully and replace poor quality images by going back to the original source document. We proof each document to make sure it's all there - including all changes. If you find a good copy, you could print it using a network printer you share with 100 other people (typically its either out of paper or toner). If it's just a 10-page document, no problem, but if it's 250-pages, you will need to punch 3 holes in all those pages and put it in a 3-ring binder. Takes at least an hour. It's much more cost-effective to just order the latest version from Amazon.com This book includes original commentary which is copyright material. Note that government documents are in the public domain. We print these large documents as a service so you don't have to. The books are compact, tightly-bound, full-size (8 1⁄2 by 11 inches), with large text and glossy covers. If you like the service we provide, please leave positive review on Amazon.com. For more titles, visit www.usgovpub.com

This revised United States Government Accountability Office manual, GAO Financial Audit Manual Volume 2 Updated March 2021, presents a methodology for performing financial statement auditsof federal entities in accordance with professional standards and consists of three volumes. FAM Volume 1 contains the audit methodology. This document, FAM Volume 2, provides detailed implementation guidance. FAM Volume 3 contains checklists for Federal Accounting (FAM 2010) and Federal Reporting and Disclosures (FAM 2020).

In July 2001, the U.S. General Accounting Office (GAO) and the President's Council on Integrity and Efficiency (PCIE) issued the GAO/PCIE Financial Audit Manual (FAM). The FAM provides guidance for financial audits conducted by the Inspector General community, GAO, and their contractors. The FAM is a key part in enhancing accountability over taxpayer-provided resources. GAO and the PCIE are committed to keeping the FAM current and intend to prepare updates as needed. With this goal in mind, a GAO/PCIE task force prepared this update to volume II of the FAM, which provides tools to assist the auditor in complying with audit standards.

The new vol. 3 of the GAO and the President¿s Council on Integrity and Efficiency (PCIE) ¿Financial Audit Manual¿ (FAM). GAO and the PCIE issued the joint FAM in July 2001. The FAM presents a methodology to perform financial statement audits of fed. entities in accordance with professional standards. GAO has updated the FAM for significant changes that have occurred in auditing financial statements in the U.S. gov¿t. since the last major revisions to the FAM were issued in July 2004. These checklists are tools that may be used by entities and auditors to document conformity with U.S. generally accepted accounting principles (U.S. GAAP).