Businesses Receiving Government Assistance

Overview

Many for-profit entities receive government assistance or are required to have financial statement or compliance audits due to law or regulation. This course will discuss the requirements under Generally Accepted Auditing Standards relevant to for-profit entity audits.

Objectives

• Describe when Generally Accepted Auditing Standards may apply to for-profit entities 
• Explain what additional responsibilities exist with a Yellow Book financial statement audit
• List typical for-profit entities that may be subject to Yellow Book or government compliance audit requirements 

Highlights

• What is Yellow Book?
• What is different because of Yellow Book?
• When might Yellow Book apply to a business?
• Common application of concepts to businesses
• Answers to common questions