Government Auditing Standards

The Yellow Book ~ December 2011 Revision
The Yellow Book ~ July 2018 Revision

The 2018 revision of the Yellow Book is effective for financial audits, attestation engagements, and reviews of financial statements for periods ending on or after June 30, 2020, and for performance audits beginning on or after July 1, 2019.

Sponsoring Organization :
U. S. Government Accountability Office (GAO).  Congressional investigative agency that examines the use of public funds, evaluates federal programs and activities, and provides analyses, options, recommendations, and other assistance to help Congress make effective oversight, policy, and funding decisions.

Principles and Standards for Offices of Inspector General

The Green Book ~ May 2014 Revision

Sponsoring Organization :
Association of Inspectors General (AIG). The AIG promotes excellence among Inspectors General, professional staff in their agencies, and other officials responsible for inspection and oversight with respect to public, not-for-profit, and independent sector organizations by establishing and encouraging adherence to quality standards.

Peer Review Results

AIG Peer Review Opinion Letter ~ April 2023
AIG Peer Review Opinion Letter ~ July 2019
AIG Peer Review Opinion Letter ~ October 2015

Government auditing standards (GAGAS) require agencies conducting audits to undergo an independent external peer review every three years. The AIG recommends that OIGs periodically have external reviewers to evaluate the OIG’s adherence to professional standards adopted by the OIG. The Montgomery County OIG coordinates with AIG for an external peer review to be conducted every three years. Peer reviews generally evaluate whether (1) the OIG’s system of quality control was suitably designed, and (2) the organization is complying with its quality control system so that it has reasonable assurance that it is performing and reporting in conformity with professional standards and applicable legal and regulatory requirements in all material respects.

The Montgomery County OIG was reviewed in April of 2023 by a team from the Association of Inspectors General. The team evaluated OIG investigations, reviews, audits, and inspections conducted from July 1, 2018 to June 30, 2023, for compliance with the AIG’s Principles and Standards for Offices of Inspector General and the United States General Accountability Office (GAO) Government Auditing Standards. The team unanimously concluded that the OIG met all relevant standards in conducting its work and noted outreach, stakeholder relationships, employee morale, and report quality as areas of distinction.