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486 ratings

Mark E. Peecher, PhD, CPA

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Auditing I: Conceptual Foundations of Auditing

University of Illinois at Urbana-Champaign

About this Course

84,951 recent views

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.

Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

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Start instantly and learn at your own schedule.

Coursera Labs

Includes hands on learning projects.

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Approx. 28 hours to complete

English

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Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Coursera Labs

Includes hands on learning projects.

Learn more about Coursera Labs

Approx. 28 hours to complete

English

Could your company benefit from training employees on in-demand skills?

Try Coursera for Business

Instructor

Instructor rating

4.74/5 (160 Ratings)

Mark E. Peecher, PhD, CPA

Associate Dean of Faculty and Deloitte Professor of Accountancy

Department of Accountancy

45,926 Learners

2 Courses

Offered by

University of Illinois at Urbana-Champaign

Get a head start on your degree

This course is part of the Master of Science in Accountancy (iMSA) from University of Illinois at Urbana-Champaign. If you are admitted to the full program, your coursework will count towards your degree learning and all of your progress will transfer with you.

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Syllabus - What you will learn from this course

Content Rating96%(4,089 ratings)

Week1

Week 1

2 hours to complete

About the Course

2 hours to complete

3 videos (Total 4 min), 5 readings, 1 quiz

2 hours to complete

MODULE 1: Auditing is a Form of Assurance

2 hours to complete

9 videos (Total 69 min), 1 reading, 3 quizzes

9 videos

Module 1 Overview1mWhat Is Assurance & Attestation Part I8mWhat Is Assurance & Attestation Part II4mWhat is Assurance & Attestation Part III10mWhy Study Assurance & Attestation Part I11mWhy Study Assurance & Attestation Part II6mWhy Study Assurance & Attestation Part III5mWhy Study Assurance & Attestation Part IV2mCommon Ground Visit18m

1 reading

Module 1 Overview and Resources10m

3 practice exercises

Lesson 1.1 Knowledge Check10mLesson 1.2 Knowledge Check30mAuditing is a Form of Assurance Quiz30m

Week2

Week 2

4 hours to complete

MODULE 2: The Demand for High Quality Auditing

4 hours to complete

10 videos (Total 69 min), 1 reading, 5 quizzes

10 videos

Module 2 Overview1mThe Market Game: A Step-by-Step Illustration Part I11mThe Market Game: A Step-by-Step Illustration Part II10mThe Market Game: Debriefing Part I5mThe Market Game: Debriefing Part II6mThe Market Game: Implications for Auditing Part I4mThe Market Game: Implications for Auditing Part II6mThe Market Game: Implications for Auditing Part III5mImpact of Auditing on Financial Reporting Part I9mImpact of Auditing on Financial Reporting Part II7m

1 reading

Module 2 Overview and Resources10m

4 practice exercises

Lesson 2.1.2 Knowledge Check16mLesson 2.2 Knowledge Check30mLesson 2.3 Knowledge Check30mThe Demand for High Quality Auditing Quiz

Week3

Week 3

3 hours to complete

MODULE 3: Audit Risk and Materiality

3 hours to complete

12 videos (Total 86 min), 1 reading, 5 quizzes

12 videos

Obtaining Reasonable Assurance Part I5mObtaining Reasonable Assurance Part II8mMaterial Misstatements Part I7mMaterial Misstatements Part II6mMaterial Misstatements Part III7mRisk Assessment Part I6mRisk Assessment Part II5mRisk Assessment Part III9mThe Audit Risk Model Part I8mThe Audit Risk Model Part II5mThe Audit Risk Model Part III6mThe Audit Risk Model Part IV9m

1 reading

Module 3 Overview and Resources10m

5 practice exercises

Lesson 3.1 Knowledge Check8mLesson 3.2 Knowledge Check6mLesson 3.3 Knowledge Check30mLesson 3.4 Knowledge Check30mAudit Risk and Materiality Quiz30m

Week4

Week 4

2 hours to complete

MODULE 4: The Value of Audits

2 hours to complete

4 videos (Total 26 min), 1 reading, 3 quizzes

Week5

Week 5

2 hours to complete

MODULE 5: Financial Statement Auditing

2 hours to complete

7 videos (Total 48 min), 1 reading, 3 quizzes

7 videos

The Financial Statement Audit Part I6mThe Financial Statement Audit Part II6mThe Financial Statement Audit Part III7mThe Financial Statement Audit Part IV7mMateriality Guidance of Major Public Accounting Firms Part I6mMateriality Guidance of Major Public Accounting Firms Part II6mMateriality Guidance of Major Public Accounting Firms Part III6m

1 reading

Module 5 Overview and Resources10m

3 practice exercises

Lesson 5.1 Knowledge Check30mLesson 5.2 Knowledge Check30mFinancial Statement Auditing Quiz 30m

Week6

Week 6

3 hours to complete

MODULE 6: Audit Assertions

3 hours to complete

9 videos (Total 55 min), 1 reading, 3 quizzes

Week7

Week 7

3 hours to complete

MODULE 7: Auditor's Professional & Ethical Responsibilities

3 hours to complete

7 videos (Total 40 min), 1 reading, 4 quizzes

7 videos

Module 7 Overview2mAuditor Characteristics Part I5mAuditor Characteristics Part II8mAuditor Characteristics Part III6mAuditor Characteristics Part IV4mAuditor Independence3mThreats to Independence8m

1 reading

Module 7 Overview and Resources10m

4 practice exercises

Lesson 7.1 Knowledge Check30mLesson 7.2 Knowledge Check30mLesson 7.3 Knowledge Check30mAuditor's Professional & Ethical Responsibilities Quiz30m

Week8

Week 8

7 hours to complete

MODULE 8: Audit Quality

7 hours to complete

17 videos (Total 98 min), 3 readings, 9 quizzes

17 videos

Module 8 Overview1mIndependence and Audit Quality Part I5mIndependence and Audit Quality Part II11mSOX Independence Requirements7mReflective Exercise: Auditor Tenure & Audit Quality3mDebrief: Auditor Tenure & Audit Quality2mQuality of Earnings Part I6mQuality of Earnings Part II5mQuality of Earnings Part III6mQuality of Earnings Part IV7mQuestions to Consider in Assessing Quality of Earnings Part I6mQuestions to Consider in Assessing Quality of Earnings Part II6mQuestions to Consider in Assessing Quality of Earnings Part III5mAudit Quality Indicators Part I3mAudit Quality Indicators Part II6mAudit Quality Indicators Part III5mGies Online Programs3m

3 readings

Module 8 Overview and Resources10mCongratulations!10mGet Your Course Certificate10m

8 practice exercises

Lesson 8.1 Knowledge Check30mLesson 8.2 Knowledge Check30mLesson 8.3.1 Knowledge Check30mLesson 8.3.2 Knowledge Check30mLesson 8.4 Knowledge Check30mLesson 8.5 Knowledge Check30mLesson 8.6 Knowledge Check30mAudit Quality Quiz22m

Reviews

4.7

147 reviews

5 stars
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4 stars
19.22%
3 stars
2.04%
2 stars
0.40%
1 star
1.02%

TOP REVIEWS FROM AUDITING I: CONCEPTUAL FOUNDATIONS OF AUDITING

by JJOct 25, 2020

IT is a good course. easily understandable language and concept. improve my skill in the area of accounting and auditing.

by AKJan 7, 2021

Professor Peecher is very engaging. He intelligently guides you through what it means to be an auditor. I quite enjoyed this course and learned a great deal. Thank you!

by AAApr 4, 2023

The course is enlightening. The mode of delivery and the available resources make it convenient to pursue.

by TKNov 2, 2020

Basic Knowledge regarding Audit was good, though more Situation based discussion needed for better understanding on Audit

View all reviews

Frequently Asked Questions

When will I have access to the lectures and assignments?
Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:
The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.
The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
What will I get if I purchase the Certificate?
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.
Is financial aid available?
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.

More questions? Visit the Learner Help Center.

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Auditing I: Conceptual Foundations of Auditing

Auditing I: Conceptual Foundations of Auditing

About this Course