* Detailed guidance on what, why, how, and by whom Federal audits should be made * Discussion on internal control over Federal financial reporting * Recent developments in auditing standards * Federal financial statements, budgeting, accounting, and more * Coverage of the scope and work required in an audit of Federal departments and agencies * Examples of Federal audits * Separate chapters devoted to auditing and evaluating Federal IT systems; performance audits; procurement and contract audits; and grant audits Written in a non- technical style and complete with helpful exhibits, this guide is a "go-to" reference for government auditors, Inspectors General, public accountants, military comptrollers, legislators, state and local government auditors, budget offices, financial managers, and financial analysts. The content also applies to contractors and grantees, universities, and other nonprofits and organizations that have repeated financial dealings with the Federal Government.