Skip to main content

Financial Audit Manual: Volume 2, June 2024

GAO-24-107279 Published: Jun 27, 2024. Publicly Released: Jun 27, 2024.
Jump To:

Fast Facts

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 June 2024 revision replaces Financial Audit Manual, Volume 2 (May 2023 version) and contains detailed implementation guidance.

The FAM also consists of:

Volume 1: the audit methodology

Volume 3: the Federal Financial Reporting Checklist

Highlights

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).

For more information, please visit the main Financial Audit Manual page, or contact Dawn B. Simpson at (202) 512-3406 or SimpsonDB@gao.gov.

Full Report

Full Report (394 pages)

GAO Contacts

Office of Public Affairs

Topics

Auditing and Financial Management
AuditorsFinancial statementsFinancial audit manualGovernment auditing standardsAudit evidenceAccounting standardsCompliance oversightAgency evaluationsPeer reviewQuality control