The GAO Green Book sets standards for internal controls that align with the most popular control model in the United States, the COSO model. In this course, we use a simple case study to build controls from scratch. Along the way, we learn the five components of control and their seventeen underlying principles.
- Identify the purpose of the GAO’s Green Book
- Identify differences between components of internal control
- Recognize the role of risk in an audit
- Recognize the differences between the magnitude and the likelihood of a risk
- Identify the differences between the two types of monitoring
- Identify the purpose of a standard of conduct
- Rank risks in order of severity
- Identify the responses to the identified risks
- Identify components of an internal control objective
- Identify the differences between the COSO model and the COSO ERM model
- Identify how the Green Book has impacted auditors’ responsibilities per the Yellow Book
Field: Auditing (Governmental)
Delivery Method: Self-Study
Leita Hart-Fanta, CPA, CGFM, CGAP has developed curriculum and taught seminars for hundreds of audit teams including Walmart, Deloitte, CALPERS, Sandia Labs, the Veteran’s Administration, the University of Texas and the City of San Francisco. She is the author of over a dozen books on auditing and accounting. Leita’s two best sellers are the McGraw-Hill book “Accounting Demystified” and the self-study course “The Yellow Book Interpreted.” She is the founder of YellowBook-CPE.com, a website that offers continuing education to government auditors.