Financial Audit Manual
Overview
The Financial Audit Manual (FAM) is a joint effort between GAO and the Council of the Inspectors General on Integrity and Efficiency (CIGIE). The FAM presents a methodology for performing financial statement audits of federal entities in accordance with professional standards.
The FAM is a three-volume publication. Volume 1 is the audit methodology, volume 2 is detailed implementation guidance, and volume 3 is the Federal Financial Reporting Checklist.
How to Access the FAM
You may download the full volumes in PDF format or Word format. FAM volume 1 (June 2025) supersedes previously issued versions and should be used immediately to audit federal entity financial statements. FAM volume 2 (June 2024) is still applicable and should continue to be used. FAM volume 3 (July 2024) is being updated.
Volume 1, Audit Methodology (June 2025)
Download volume 1 in Word [DOCX].
Volume 2, Detailed Implementation Guidance (June 2024)
Download volume 2 in Word [DOCX].
Volume 3, Checklist (July 2024)
Download volume 3 in Word [ZIP]
Excel Templates
Download templates of the Specific Control Evaluation, Line Item Risk Analysis, Further Evaluation of Audit Risk, and Summary of Uncorrected Misstatements in Excel:
- All Files [ZIP]
- Individual Files
Revisions
The current revision of FAM volume 1 reflects changes in auditing financial statements of federal entities since the last revision in June 2024. The revisions are primarily based on the 2024 revision of the Federal Information System Controls Audit Manual (GAO-24-107026).
FAM volume 2 (June 2024) is still applicable and should continue to be used.
FAM volume 3 (July 2024) is being updated.
Users should also consider any subsequently issued standards and guidance.
For the superseded versions, see FAM archives [ZIP]
GAO Contacts
For technical or practice questions regarding the FAM, please email FAM@gao.gov or contact Dawn B. Simpson at SimpsonDB@gao.gov.