This session will describe the changes in the 2018 revision to Government Auditing Standards the 'Yellow Book') as well as the 2018 OMB Compliance Supplement. The 2018 OMB Compliance Supplement is unique in that it does not stand on its own and now auditors will have to use it in connection with the 2017 OMB Compliance Supplement. This session will also discuss any regulatory developments that may affect the Uniform Guidance.
1. Indicate the changes to the 2018 Yellow Book
2. Recognize how the 2018 OMB Compliance Supplement is to be used