2007 revision of government auditing standards issued.

• Position: Regulatory matters

The U.S. Government Accountability Office has issued the Jan. 2007 revision of Government Auditing Standards. The standards emphasize the critical role of government audits in achieving credibility and accountability in government, with an increased focus on the ethical principles underlying the work of those who audit government programs and activities.

This new version, which supersedes the 2003 revision, contains the final 2007 revisions to the standards, except for the quality control and peer review sections in chapter 3. Concurrent with the electronic issuance of this revision of the Yellow Book, the GAO is exposing for comment redrafted sections on quality control and peer review in response to the wide range of comments it received on...