GAO Yellow Book Exposure Draft Game Changer

February 2011
Governmental GAAP Update Service;2/28/2011, Vol. 11 Issue 4, p1
Trade Publication
The article focuses on a paragraph in the changes proposed by the General Accountability Office (GAO) to Government Auditing Standards. It says that if the provision is approved, which will separate the auditing and preparation of government financial statements, the relationships between independent auditors and local governments will be further improved. It states that the transition period will be difficult and will demand the cooperation among independent auditors.


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