Auditing I: Conceptual Foundations of Auditing

Auditing I: Conceptual Foundations of Auditing

Instructor: Mark E. Peecher, PhD, CPA

60,378 already enrolled

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9 modules

Gain insight into a topic and learn the fundamentals.

4.7

(615 reviews)

Intermediate level

Some related experience required

Flexible schedule

Approx. 28 hours

Learn at your own pace

96%

Most learners liked this course

9 modules

Gain insight into a topic and learn the fundamentals.

4.7

(615 reviews)

Intermediate level

Some related experience required

Flexible schedule

Approx. 28 hours

Learn at your own pace

96%

Most learners liked this course

What you'll learn

Describe the independent auditing process and what drives the demand for and supply of audits.
Identify the different types of audit assertions and understand how the nature of assertions affects the demand for independent audits.
Define the key steps of financial-statement auditing.
Describe an auditors’ professional and ethical responsibilities.

Skills you'll gain

Details to know

Shareable certificate

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Assessments

34 assignments

Taught in English

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There are 9 modules in this course

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.

In this module, you will become familiar with the course, your instructor and your classmates, and our learning environment. This orientation will also help you obtain the technical skills required to navigate and be successful in this course.

What's included

3 videos5 readings1 assignment1 discussion prompt

3 videosTotal 4 minutes

Course Overview2 minutesPreview module
About Prof Peecher1 minute
Learn on Your Terms0 minutes

5 readingsTotal 50 minutes

Syllabus10 minutes
Learn More About Auditing as a Career Path10 minutes
About the Discussion Forums10 minutes
Online Education at Gies College of Business10 minutes
Update Your Profile10 minutes

1 assignmentTotal 30 minutes

Orientation Quiz30 minutes

1 discussion promptTotal 10 minutes

Get to Know Your Classmates10 minutes

What's included

9 videos1 reading3 assignments

9 videosTotal 69 minutes

Module 1 Overview1 minutePreview module
What Is Assurance & Attestation Part I8 minutes
What Is Assurance & Attestation Part II4 minutes
What is Assurance & Attestation Part III10 minutes
Why Study Assurance & Attestation Part I11 minutes
Why Study Assurance & Attestation Part II6 minutes
Why Study Assurance & Attestation Part III5 minutes
Why Study Assurance & Attestation Part IV2 minutes
Common Ground Visit18 minutes

1 readingTotal 10 minutes

Module 1 Overview and Resources10 minutes

3 assignmentsTotal 70 minutes

Lesson 1.1 Knowledge Check10 minutes
Lesson 1.2 Knowledge Check30 minutes
Auditing is a Form of Assurance Quiz30 minutes

What's included

10 videos1 reading4 assignments1 peer review

10 videosTotal 68 minutes

Module 2 Overview1 minutePreview module
The Market Game: A Step-by-Step Illustration Part I11 minutes
The Market Game: A Step-by-Step Illustration Part II10 minutes
The Market Game: Debriefing Part I5 minutes
The Market Game: Debriefing Part II6 minutes
The Market Game: Implications for Auditing Part I4 minutes
The Market Game: Implications for Auditing Part II6 minutes
The Market Game: Implications for Auditing Part III5 minutes
Impact of Auditing on Financial Reporting Part I9 minutes
Impact of Auditing on Financial Reporting Part II7 minutes

1 readingTotal 10 minutes

Module 2 Overview and Resources10 minutes

4 assignmentsTotal 76 minutes

Lesson 2.1.2 Knowledge Check16 minutes
Lesson 2.2 Knowledge Check30 minutes
Lesson 2.3 Knowledge Check30 minutes
The Demand for High Quality Auditing Quiz0 minutes

1 peer reviewTotal 60 minutes

Module 2 Peer Assessment60 minutes

What's included

12 videos1 reading5 assignments

12 videosTotal 85 minutes

Obtaining Reasonable Assurance Part I5 minutesPreview module
Obtaining Reasonable Assurance Part II8 minutes
Material Misstatements Part I7 minutes
Material Misstatements Part II6 minutes
Material Misstatements Part III7 minutes
Risk Assessment Part I6 minutes
Risk Assessment Part II5 minutes
Risk Assessment Part III9 minutes
The Audit Risk Model Part I8 minutes
The Audit Risk Model Part II5 minutes
The Audit Risk Model Part III6 minutes
The Audit Risk Model Part IV9 minutes

1 readingTotal 10 minutes

Module 3 Overview and Resources10 minutes

5 assignmentsTotal 104 minutes

Lesson 3.1 Knowledge Check8 minutes
Lesson 3.2 Knowledge Check6 minutes
Lesson 3.3 Knowledge Check30 minutes
Lesson 3.4 Knowledge Check30 minutes
Audit Risk and Materiality Quiz30 minutes

What's included

4 videos1 reading3 assignments

4 videosTotal 25 minutes

Module 4 Overview0 minutesPreview module
So You Want a Used Car9 minutes
So You Want a Used Car that Works Part I6 minutes
So You Want a Used Car that Works Part II8 minutes

1 readingTotal 10 minutes

Module 4 Overview and Resources10 minutes

3 assignmentsTotal 90 minutes

Lesson 4.1 Knowledge Check30 minutes
Lesson 4.2 Knowledge Check30 minutes
The Value of Audits Quiz30 minutes

What's included

7 videos1 reading3 assignments

7 videosTotal 47 minutes

The Financial Statement Audit Part I6 minutesPreview module
The Financial Statement Audit Part II6 minutes
The Financial Statement Audit Part III7 minutes
The Financial Statement Audit Part IV7 minutes
Materiality Guidance of Major Public Accounting Firms Part I6 minutes
Materiality Guidance of Major Public Accounting Firms Part II6 minutes
Materiality Guidance of Major Public Accounting Firms Part III6 minutes

1 readingTotal 10 minutes

Module 5 Overview and Resources10 minutes

3 assignmentsTotal 90 minutes

Lesson 5.1 Knowledge Check30 minutes
Lesson 5.2 Knowledge Check30 minutes
Financial Statement Auditing Quiz 30 minutes

What's included

9 videos1 reading3 assignments

9 videosTotal 55 minutes

Module 6 Overview1 minutePreview module
Assertions Part I8 minutes
Assertions Part II6 minutes
Assertions Part III4 minutes
Assertions Part IV11 minutes
Assertions Part V5 minutes
Financial Statement Assertions6 minutes
Caribou Example Solution Part I5 minutes
Caribou Example Solution Part II5 minutes

1 readingTotal 10 minutes

Module 6 Overview and Resources10 minutes

3 assignmentsTotal 90 minutes

Lesson 6.1 Knowledge Check30 minutes
Lesson 6.2 Knowledge Check30 minutes
Audit Assertions Quiz30 minutes

What's included

7 videos1 reading4 assignments

7 videosTotal 39 minutes

Module 7 Overview2 minutesPreview module
Auditor Characteristics Part I5 minutes
Auditor Characteristics Part II8 minutes
Auditor Characteristics Part III6 minutes
Auditor Characteristics Part IV4 minutes
Auditor Independence3 minutes
Threats to Independence8 minutes

1 readingTotal 10 minutes

Module 7 Overview and Resources10 minutes

4 assignmentsTotal 120 minutes

Lesson 7.1 Knowledge Check30 minutes
Lesson 7.2 Knowledge Check30 minutes
Lesson 7.3 Knowledge Check30 minutes
Auditor's Professional & Ethical Responsibilities Quiz30 minutes

What's included

16 videos3 readings8 assignments1 peer review1 plugin

16 videosTotal 94 minutes

Module 8 Overview1 minutePreview module
Independence and Audit Quality Part I5 minutes
Independence and Audit Quality Part II11 minutes
SOX Independence Requirements7 minutes
Reflective Exercise: Auditor Tenure & Audit Quality3 minutes
Debrief: Auditor Tenure & Audit Quality2 minutes
Quality of Earnings Part I6 minutes
Quality of Earnings Part II5 minutes
Quality of Earnings Part III6 minutes
Quality of Earnings Part IV7 minutes
Questions to Consider in Assessing Quality of Earnings Part I6 minutes
Questions to Consider in Assessing Quality of Earnings Part II6 minutes
Questions to Consider in Assessing Quality of Earnings Part III5 minutes
Audit Quality Indicators Part I3 minutes
Audit Quality Indicators Part II6 minutes
Audit Quality Indicators Part III5 minutes

3 readingsTotal 30 minutes

Module 8 Overview and Resources10 minutes
Congratulations on completing the course!10 minutes
Get Your Course Certificate10 minutes

8 assignmentsTotal 232 minutes

Lesson 8.1 Knowledge Check30 minutes
Lesson 8.2 Knowledge Check30 minutes
Lesson 8.3.1 Knowledge Check30 minutes
Lesson 8.3.2 Knowledge Check30 minutes
Lesson 8.4 Knowledge Check30 minutes
Lesson 8.5 Knowledge Check30 minutes
Lesson 8.6 Knowledge Check30 minutes
Audit Quality Quiz22 minutes

1 peer reviewTotal 60 minutes

Module 8 Peer Assessment60 minutes

1 pluginTotal 15 minutes

End of Course survey15 minutes

Instructor

Instructor ratings

4.7 (199 ratings)

Mark E. Peecher, PhD, CPA

University of Illinois Urbana-Champaign

3 Courses70,199 learners

Offered by

University of Illinois Urbana-Champaign

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Build toward a degree

This course is part of the following degree program(s) offered by University of Illinois Urbana-Champaign. If you are admitted and enroll, your completed coursework may count toward your degree learning and your progress can transfer with you.¹

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Learner reviews

4.7

615 reviews

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Reviewed on Sep 8, 2023

I gain more knowledge about auditing and this course can help me as an accountancy student. Thank you! It is satisfying to receive certificate.

Reviewed on Mar 3, 2024

Auditing I: Conceptual Foundations of Auditing course content is at advance level and after completion you will gain the mastery in auditing skills.

Reviewed on Jul 9, 2023

I really enjoyed the course content and the illustrations/scenarios used by the Professor. He is such a genius. Get him more on Coursera, Please !

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When you purchase a Certificate you get access to all course materials, including graded assignments. Upon completing the course, your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.

Auditing I: Conceptual Foundations of Auditing

What you'll learn

Skills you'll gain

Details to know

See how employees at top companies are mastering in-demand skills

Earn a career certificate

There are 9 modules in this course

About the Course

What's included

MODULE 1: Auditing is a Form of Assurance

What's included

MODULE 2: The Demand for High Quality Auditing

What's included

MODULE 3: Audit Risk and Materiality

What's included

MODULE 4: The Value of Audits

What's included

MODULE 5: Financial Statement Auditing

What's included

MODULE 6: Audit Assertions

What's included

MODULE 7: Auditor's Professional & Ethical Responsibilities

What's included

MODULE 8: Audit Quality

What's included

Instructor

Offered by

Recommended if you're interested in Business Essentials

Auditing II: The Practice of Auditing

Financial Reporting: Ledgers, Taxes, Auditing Best Practices

Information Systems Auditing and Governance

Information Systems Auditing, Controls and Assurance

Build toward a degree

Master of Science in Accountancy (iMSA)

CPA Pathways Graduate Certificate

Why people choose Coursera for their career

Learner reviews

New to Business Essentials? Start here.

What Is R Programming? Use Cases and FAQ

What Is a Top IDE for R Programming?

Python or R for Data Analysis: Which Should You Learn?

Data Science vs. Machine Learning: What’s the Difference?

Open new doors with Coursera Plus

Advance your career with an online degree

Join over 3,400 global companies that choose Coursera for Business

Frequently asked questions

When will I have access to the lectures and assignments?

What is the refund policy?

Is financial aid available?

More questions