GAO clarifies CPE requirements under "Yellow Book".

• Position: Regulatory matters - Yellow Book CPE requirements - Brief Article

In June 2003, the U.S. General Accounting Office issued a revision to Government Auditing Standards (also known as the "Yellow Book"). Among the many changes to the standards were modifications to the continuing professional education requirements. The revised Yellow Book states that each auditor performing work under Government Auditing Standards should complete, every 2 years, at least 80 hours of CPE that directly enhances the auditor's professional proficiency to perform audits and/or attestation engagements. Since the issuance of the standards, practitioners have raised questions as to whether taxation courses would qualify as CPE for purposes of satisfying the 80-hour requirement. The GAO recently issued a clarification on this matter, which can be found on its Web site (www.gao.gov/govaud/cpeamend. htm).

In summary, the GAO concludes that the majority of taxation courses would not enhance an auditor's ability to perform audits and/or attestation engagements and, therefore, CPE related to such courses would not normally qualify as CPE for purposes of satisfying...