The Financial Audit Manual (FAM) presents a methodology for performing financial statement audits of federal entities in accordance with professional standards. It is a tool for enhancing accountability over taxpayer-provided resources.
This May 2023 update replaces Financial Audit Manual, Volume 2 (June 2022 version) and contains detailed implementation guidance.
The FAM also consists of:
Volume 1: the audit methodology
Volume 3: the Federal Financial Reporting Checklist
The U.S. Government Accountability Office (GAO) and the Council of the Inspectors General on Integrity and Efficiency (CIGIE) maintain the GAO/CIGIE Financial Audit Manual (FAM).