It is particularly ironic that just two days before the July 4th Independence celebrations, the Comptroller General of the United States, David M. Walker releases a document explaining the January 22, 2002 GAO amendment to the Government Auditing Standards,commonly known as "the Yellow Book."

The amendment deals with a broad range of auditor independence issues with the most significant change being the application of the independence standard when nonaudit and consulting services are also being performed for the audited entity by the auditor.

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