Entities of all sizes may be subject to risks of material misstatement when using financial instruments. This Audit Guide provides an in-depth understanding of financial instruments, as well as practical assistance for auditors who want to develop an effective audit approach to address such risks.

Detailed implementation guidance is provided for assessing an entity's internal control and responding to the risk of material misstatement, as well as guidance on reporting considerations. The implementation guidance is provided in a series of case studies to help you understand and apply...

This annual edition provides accountants and other financial professionals with assistance in understanding and applying the special considerations required in a single audit. It is an indispensable resource for auditors performing Yellow Book audits. This new edition provides up-to-date information and expert guidance on single audits and Uniform Guidance compliance audit requirements, including example auditor reports for both the reporting required under Government Auditing Standards and the Uniform Guidance compliance audit.