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Auditing I: Conceptual Foundations of Auditing

Approx. 28 hours to complete

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Course Summary

This course covers the conceptual foundations of auditing and provides learners with an understanding of the audit process.

Key Learning Points

Learn the basics of auditing and how it functions in the business world
Understand the importance of ethics and professional standards in auditing
Develop critical thinking and analytical skills necessary for auditing

Learning Outcomes

Understand the fundamentals of auditing
Develop critical thinking and analytical skills
Understand the importance of ethics and professional standards in auditing

Prerequisites or good to have knowledge before taking this course

Basic knowledge of accounting principles
Ability to think critically and analytically

Course Difficulty Level

Intermediate

Course Format

Self-paced
Online
Video lectures
Quizzes and assignments

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Forensic Accounting and Fraud Examination
Financial Accounting Fundamentals

Related Education Paths

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Description

This course provides an intensive conceptual and applied introduction to auditing in society. It focuses on concepts and applications related to financial-statement auditors’ professional responsibilities as well as major facets of the audit process including risk assessment and audit reporting. In the U.S. financial-statement audits and related services generally are provided by Certified Public Accountants (CPAs). To succeed in this course, you should anticipate engaging in critical thinking and thoughtful communication about audit professionals' decision environments, decision processes, and deliverables. Additionally, you should understand the macro-level learning objectives in each of the course's weekly modules.

Outline

About the Course
Course Overview
About Prof Peecher
Learn on Your Terms
Syllabus
Learn More About Auditing as a Career Path
About the Discussion Forums
Learn More About Flexible Learning Paths
Update Your Profile
Orientation Quiz

MODULE 1: Auditing is a form of Assurance
Module 1 Overview
What Is Assurance & Attestation Part I
What Is Assurance & Attestation Part II
What is Assurance & Attestation Part III
Why Study Assurance & Attestation Part I
Why Study Assurance & Attestation Part II
Why Study Assurance & Attestation Part III
Why Study Assurance & Attestation Part IV
Module 1 Overview and Resources
Lesson 1.1 Knowledge Check
Lesson 1.2 Knowledge Check
Module 1 Quiz

MODULE 2: The Demand for High Quality Auditing
Module 2 Overview
The Market Game: A Step-by-Step Illustration Part I
The Market Game: A Step-by-Step Illustration Part II
The Market Game: Debriefing Part I
The Market Game: Debriefing Part II
The Market Game: Implications for Auditing Part I
The Market Game: Implications for Auditing Part II
The Market Game: Implications for Auditing Part III
Impact of Auditing on Financial Reporting Part I
Impact of Auditing on Financial Reporting Part II
Module 2 Overview and Resources
Lesson 2.1.2 Knowledge Check
Lesson 2.2 Knowledge Check
Lesson 2.3 Knowledge Check

MODULE 3: Audit Risk and Materiality
Obtaining Reasonable Assurance Part I
Obtaining Reasonable Assurance Part II
Material Misstatements Part I
Material Misstatements Part II
Material Misstatements Part III
Risk Assessment Part I
Risk Assessment Part II
Risk Assessment Part III
The Audit Risk Model Part I
The Audit Risk Model Part II
The Audit Risk Model Part III
The Audit Risk Model Part IV
Module 3 Overview and Resources
Lesson 3.1 Knowledge Check
Lesson 3.2 Knowledge Check
Lesson 3.3 Knowledge Check
Lesson 3.4 Knowledge Check
Module 3 Quiz

MODULE 4: The Value of Audits
Module 4 Overview
So You Want a Used Car
So You Want a Used Car that Works Part I
So You Want a Used Car that Works Part II
Module 4 Overview and Resources
Lesson 4.1 Knowledge Check
Lesson 4.2 Knowledge Check
Module 4 Quiz

MODULE 5: Financial Statement Auditing
The Financial Statement Audit Part I
The Financial Statement Audit Part II
The Financial Statement Audit Part III
The Financial Statement Audit Part IV
Materiality Guidance of Major Public Accounting Firms Part I
Materiality Guidance of Major Public Accounting Firms Part II
Materiality Guidance of Major Public Accounting Firms Part III
Module 5 Overview and Resources
Lesson 5.1 Knowledge Check
Lesson 5.2 Knowledge Check
Module 5 Quiz

MODULE 6: Audit Assertions
Module 6 Overview
Assertions Part I
Assertions Part II
Assertions Part III
Assertions Part IV
Assertions Part V
Financial Statement Assertions
Caribou Example Solution Part I
Caribou Example Solution Part II
Module 6 Overview and Resources
Lesson 6.1 Knowledge Check
Lesson 6.2 Knowledge Check
Module 6 Quiz

MODULE 7: Auditor's Professional & Ethical Responsibilities
Module 7 Overview
Auditor Characteristics Part I
Auditor Characteristics Part II
Auditor Characteristics Part III
Auditor Characteristics Part IV
Auditor Independence
Threats to Independence
Module 7 Overview and Resources
Lesson 7.1 Knowledge Check
Lesson 7.2 Knowledge Check
Lesson 7.3 Knowledge Check
Module 7 Quiz

MODULE 8: Audit Quality
Module 8 Overview
Independence and Audit Quality Part I
Independence and Audit Quality Part II
SOX Independence Requirements
Reflective Exercise: Auditor Tenure & Audit Quality
Debrief: Auditor Tenure & Audit Quality
Quality of Earnings Part I
Quality of Earnings Part II
Quality of Earnings Part III
Quality of Earnings Part IV
Questions to Consider in Assessing Quality of Earnings Part I
Questions to Consider in Assessing Quality of Earnings Part II
Questions to Consider in Assessing Quality of Earnings Part III
Audit Quality Indicators Part I
Audit Quality Indicators Part II
Audit Quality Indicators Part III
Gies Online Programs
Module 8 Overview and Resources
Congratulations!
Get Your Course Certificate
Lesson 8.1 Knowledge Check
Lesson 8.2 Knowledge Check
Lesson 8.3.1 Knowledge Check
Lesson 8.3.2 Knowledge Check
Lesson 8.4 Knowledge Check
Lesson 8.5 Knowledge Check
Lesson 8.6 Knowledge Check
Module 8 Quiz

Summary of User Reviews

This auditing course on Coursera has received positive reviews from students. Many users found the course content to be comprehensive and easy to understand. The course has a high overall rating based on student reviews but the exact numeric value is not provided.

Key Aspect Users Liked About This Course

Comprehensive and easy to understand course content

Pros from User Reviews

High-quality course material
Great instructor
Interactive assignments and quizzes
Practical and relevant topics covered
Good pacing and structure

Cons from User Reviews

Some users found the course too basic
Limited interaction with other students
Some technical issues with the platform
Not enough real-life examples
Some users found the course too theoretical

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