Peer reviewers have been notified by the AICPA that they should consider audits that do not meet all the requirements listed on the A-133 Peer Review Checklist (Part A) as NOT MEETING professional standards. Given all the changes in the 2009 GAS and A-133 Audit Guide and requirements dealing with funds expended from the American Recovery and Reinvestment Act (ARRA), this is an important time to ensure that you are current on all the new developments and are performing all the steps necessary to comply with professional standards. This course addresses the changes to the Audit Guide, paying particular attention to those that relate to sampling and the SEFA audit program and disclosure checklist. It will also discuss the recent ARRA guidance, SAS 115 on internal control reporting and SAS 117 on compliance auditing. This year the GAS is expected to finalize the new Yellow Book.