2024 Generally Accepted Government Auditing Standards (GAGAS) Update. This memorandum summarizes the 2024 GAGAS revision and outlines DCAA’s implementation plan.
Background – The 2024 GAGAS was published on February 1, 2024, with an implementation date of December 15, 2025. This revision supersedes the 2018 GAGAS Revision, including the Technical Update issued in April 2021. The revisions in GAGAS do not impact the way DCAA performs its audits; however, there are significant changes to Chapter 5. Notably, Chapter 5, titled “Quality Management, Engagement Quality Reviews, and Peer Review,” in the 2024 version replaces Chapter 5, “Quality Control and Peer Review,” from the 2018 version.