This is the Government Accountability Office (GAO) and Council of the Inspectors General on Integrity and Efficiency (CIGIE) newly revised GAO Financial Audit Manual Volume 1 Updated June 2024. 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 contains the audit methodology. Volume 2, available separately, provides detailed implementation guidance. Volume 3, available separately, is the Federal Financial Reporting Checklist.