The 1994 revisions to 'Government Auditing Standards.'

To ensure that standards remain current and meet the needs of the audit community and the public, the General Accounting Office (GAO) revised the government auditing standards again in June 1994. The official title of the latest revision is Government Auditing Standards: 1994 Revision, and in keeping with the tradition that has led its informal name, it is also dressed in a yellow cover. The GAO initially sought to expand Generally Accepted Government Auditing Standards (GAGAS) to include more emphasis on internal control testing and reporting than is now required by AICPA Generally Accepted Auditing Standards (GAAS). Rather than expand GAAS, the GAO chose to interpret and give guidance about what following GAAS means as it relates to government audits. The more important changes in the fieldwork and reporting standards in the 1994 revision relate to the following: 1. internal control awareness, 2. communication about additional testing of controls, 3. compliance with laws and regulations, 4. reporting audit results, and 5. other procedural requirements.