The 2014 Green Book (which is the most recent update) contains the latest version of the federal government’s standards for internal control, which is used by federal agencies and other government entities. These standards identify the five components of a comprehensive system of internal controls, as well as the 17 principles upon which those components are based. It is the essential tool for the development of a solidly-constructed system of internal controls. In The Green Book Explained manual, we summarize the contents of the Green Book, while also inserting many tips, notations and examples along the way to clarify how it is to be used.