Subject: Seeking Sample Financial Statements for Yellow Book Audits
Good morning, everyone!
I could be mistaken, but I believe either the AICPA or GAO has released a sample set of audited financial statements that demonstrate the expected format for financials audited under GAGAS.
Does anyone know where I can locate a sample set? I want to ensure that my financials meet all the necessary requirements.
Thank you!
One response
Good morning! You’re on the right track. The GAO does indeed provide some resources related to GAGAS (Generally Accepted Government Auditing Standards) that can help guide you in preparing your financial statements.
While there may not be a single “sample set” of audited financial statements officially published by AICPA or GAO, you can find various guidance documents and sample financial statements in resources such as:
GAO’s Yellow Book: This contains requirements and standards for audits. It’s a good idea to review it to ensure you are meeting all necessary criteria.
AICPA Publications: They offer a variety of resources and example statements specifically aimed at government entities.
State and Local Government Resources: Many state auditor offices provide sample financial reports for entities within their jurisdiction that are in accordance with GAGAS.
Online Resources and Associations: Websites like the Association of Government Accountants (AGA) or the Government finance Officers Association (GFOA) may have model financial statements and additional guidelines.
I recommend reaching out directly to these organizations or checking their websites for resources. Additionally, if you are part of any professional Accounting group, they may have shared resources or examples that could be beneficial. Good luck!