Financial Audit Manual

The Financial Audit Manual presents a methodology to perform financial statement audits of federal entities in accordance with professional standards. 

View the 2008 Financial Audit Manual   -   Volume 1 Volume 2 Volume 3

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The Planned Financial Audit Manual Update

The Financial Audit Manual, last revised in 2008, is currently being updated. The  update is planned for the last quarter of 2014. The revised Financial Audit Manual will incorporate new requirements from GAO’s 2011 Yellow Book , and the American Institute of CPAs Attestation Engagement Standard No. 15 and their Statements of Auditing Standards Nos. 122 through 127.

How to Use the Financial Audit Manual

When using the FAM volumes below, care must be exercised to ensure that appropriate consideration is given to the updated requirements noted above. The Financial Audit Manual is a three-volume publication. Volume 1 is audit methodology, Volume 2 is audit tools, and Volume 3 includes checklists. You may download the full volumes in PDF format, or you may download a zipped Word document that can be used with your own data.

Volume 1 Audit Methodology

View the full volume, or download specific sections:

  • Section 100 - Table of Contents, Introduction [ZIP]
  • Section 200 - Planning [ZIP]
  • Section 300 - Internal Control [ZIP]
  • Section 400 - Testing [ZIP]
  • Section 500 - Reporting [ZIP]
  • Section Appendixes - Appendixes, Glossary, Abbreviations, Index [ZIP]

Volume 2 Audit Tools

View the full volume, or download specific sections:

  • Section 600 - Planning and General [ZIP]
  • Section 700 - Internal Control [ZIP]
  • Section 800 - Compliance [ZIP]
  • Section 900 - Substantive Testing [ZIP]
  • Section 1000 - Reporting [ZIP]

Volume 3 Checklists

View the full volume.

Yellow Book Icon

Government Auditing Standards, also known as the Yellow Book, provide a framework for conducting high quality audits with competence, integrity, objectivity, and independence. Yellow Book establishes requirements for performing financial audits in addition to the requirements contained in the American Institute of Certified Public Accountants standards.

Green Book Icon

Standards for Internal Control in the Federal Government, known as the Green Book, sets standards for federal agencies on the policies and procedures they employ to ensure effective resource use in fulfilling their mission, goals, objectives, and strategic plan. Federal Managers' Financial Integrity Act requires that federal agency executives periodically review and annually report on the agency's internal control systems.

Info System Audit Manual Icon

The Federal Information Systems Controls Audit Manual provides a framework for assessing the effectiveness of information system controls in support of financial statement audits.

For technical or practice questions regarding the Financial Audit Manual, please e-mail FAM@gao.gov.