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GAO-24-106786 1 (April 28, 2025)

handle is hein.gao/psnlsds0001 and id is 1 raw text is: 




GAOUS. GOVERNMENT ACCOUNTABILITY OFFICE


Memorandum


Date:        April 28, 2025


To:          GAO's  Financial Management and Assurance (FMA) Team
             Council of the Inspectors General on Integrity and Efficiency
             Financial Audit Community

From:        James  R. Dalkin, Director, FMA
             Phyllis Anderson, Assistant Director, FMA; Matthew Gardner, Auditor in Charge, FMA

Subject:     Professional Standards Update No. 96, January through March 2025

To alert you to changes in professional standards, we periodically issue Professional Standards Updates
(PSU).1 These updates highlight the effective dates of recently issued standards and guidance related to
engagements  conducted in accordance with Government Auditing Standards.2 PSUs contain summary
information only, and those affected by a change should refer to the respective standard or guidance for
details.

This PSU has two sections:

    Section I identifies select standards and guidance with their respective effective dates. Section I
     contains standards effective for

       o audits of financial statements for periods ending after December 31, 2024;
       o attestation reports dated after December 31, 2024; and
       o accounting for reporting periods beginning after October 15, 2023.

    Section II identifies select standards and guidance that were issued from January 2025 through March
     2025.


















1Previous PSUs can be found on the Professional Standards Updates web page.
2GAO, Government Auditing Standards: 2024 Revision, GAO-24-106786 (Washington, D.C.: February 2024).


U.S. CY, rYD  GOVERNMENT ACCOUNTABILITY OFFICE

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