4.8
stars
179 ratings

Mark E. Peecher, PhD, CPA

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Make progress toward the Master of Science in Accountancy (iMSA) degree

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Auditing II: The Practice of Auditing

University of Illinois at Urbana-Champaign

About this Course

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This course provides a continuation of the intensive conceptual and applied introduction to auditing in society begun in Auditing I: Conceptual Foundations of Auditing. It focuses on a conceptual framework that is applied by audit professionals to assess, evaluate, and manage audit risks and evidence.

Flexible deadlines

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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. 24 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. 24 hours to complete

English

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

Try Coursera for Business

Instructor

Instructor rating

4.8/5 (63 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 Rating97%(1,453 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: Strategic Analysis of a Client and Its Business Processes

2 hours to complete

13 videos (Total 77 min), 1 reading, 4 quizzes

13 videos

Module 1 Introduction50sStrategic Systems Auditing (SSA) Part 16mStrategic Systems Auditing (SSA) Part 29mStrategic Systems Auditing (SSA) Part 37mStrategic Systems Auditing (SSA) Part 47mStrategic Analysis (SA) and Strategic Business Risks (SBRs) Part 16mStrategic Analysis (SA) and Strategic Business Risks (SBRs) Part 25mStrategic Analysis (SA) and Strategic Business Risks (SBRs) Part 34mStrategic Analysis (SA) and Strategic Business Risks (SBRs) Part 45mBusiness Process Analysis (PA) Part 16mBusiness Process Analysis (PA) Part 26mBusiness Process Analysis (PA) Part 36mStrategic Analysis Summary4m

1 reading

Module 1 Overview and Resources10m

4 practice exercises

Lesson 1.1 Knowledge CheckLesson 1.2 Knowledge CheckLesson 1.3 Knowledge Check30mModule 1 Quiz

Week2

Week 2

4 hours to complete

Module 2: Audit Evidence and Triangulation

4 hours to complete

10 videos (Total 67 min), 1 reading, 5 quizzes

10 videos

Module 2 Introduction1mAudit Evidence & Triangulation11mWorldCom Example Part 16mWorldCom Example Part 26mWorldCom Example Part 37mWorldCom Example 2 Part 14mWorldCom Example 2 Part 210mWorldCom Triangulation Example Part 16mWorldCom Triangulation Example Part 27mWorldCom Triangulation Example Part 35m

1 reading

Module 2 Overview and Resources10m

4 practice exercises

Lesson 2.1 Knowledge Check30mLesson 2.2 and 2.3 Knowledge Check6mLesson 2.4 Knowledge Check30mModule 2 Quiz

Week3

Week 3

2 hours to complete

Module 3: Strategic Systems Auditing and Internal Controls

2 hours to complete

6 videos (Total 37 min), 1 reading, 3 quizzes

Week4

Week 4

2 hours to complete

Module 4: Interpreting Evidence and Significant Business Processes

2 hours to complete

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

Week5

Week 5

3 hours to complete

Module 5: Verification of Management Assertions I: Attribute Sampling

In this module, you will be introduced to the concept of sampling. We will cover non-statistical and statistical sampling, but we will emphasize a form of statistical sampling called attribute sampling. You will learn about sampling risk as well as about three important determinants of sample size: risk of incorrect acceptance, tolerable error, and expected error. You will learn that population size actually has a small effect on sample size, contrary to lay theories the position population size as one of the most important determinants of needed sample sizes. You will also learn about key steps involved in planning and performing attribute sampling, the critical role of professional judgement during many of these steps, and you will learn about some specific audit procedures for verifying management’s assertions related to their controls.

3 hours to complete

8 videos (Total 49 min), 1 reading, 5 quizzes

8 videos

Module 5 Introduction57sAttribute Sampling: Major Phases of an Audit Part 15mAttribute Sampling: Major Phases of an Audit Part 28mAttribute Sampling: Important Factors in Determining Sample Size Part 16mAttribute Sampling: Important Factors in Determining Sample Size Part 23mAttribute Sampling: Tolerable Error4mAttribute Sampling: Test of Controls Part 19mAttribute Sampling: Test of Controls Part 28m

1 reading

Module 5 Overview and Resources10m

5 practice exercises

Lesson 5.1 Knowledge Check30mLesson 5.2 Knowledge Check30mLesson 5.3 Knowledge Check30mLesson 5.4 Knowledge Check30mModule 5 Quiz

Week6

Week 6

3 hours to complete

Module 6: Verification of Management Assertions II: Unit Sampling

In this module, you will continue to learn about verifying management’s assertions. First, you will learn about unit sampling, which is one of the most common statistical sampling approaches. Then you will learn about the differences between unit sampling and non-statistical sampling. Next, you will learn about planning, picking, and evaluating the results of the sample. You will also learn about different types of sample selections: probabilistic and non-probabilistic. Lastly, you will reinforce your conceptual understanding by working through a unit sampling example.

3 hours to complete

8 videos (Total 52 min), 1 reading, 5 quizzes

8 videos

Module 6 Introduction1mUnit Sampling Part 16mUnit Sampling Part 29mUnit Sampling Part 34mUnit Sampling Example 14mUnit Sampling - Sample Selection Part 18mUnit Sampling - Sample Selection Part 28mUnit Sampling Example 27m

1 reading

Module 6 Overview and Resources10m

5 practice exercises

Lesson 6.1 Knowledge Check30mLesson 6.2 Knowledge Check30mLesson 6.3 Knowledge Check30mLesson 6.4 Knowledge Check30mModule 6 Quiz

Week7

Week 7

4 hours to complete

Module 7: Fraud Risk Assessment

In this module, you will learn about fraud risk assessment, which is one of the most critical portions of the audit. First, you will learn about wise thinking and why it is important to have professional skepticism when it comes to fraud. You will learn about wise thinking from several recent studies. You will first learn about a study that highlights the importance of wise thinking in auditing. Then you will learn about two additional studies that show the factors that influence auditors’ judgement and management’s behavior. Lastly, you will learn about a study that shows how auditors’ strategic thinking influences their selected audit procedures.

4 hours to complete

12 videos (Total 74 min), 1 reading, 6 quizzes

12 videos

Module 7 Introduction1mWise Thinking Part 13mWise Thinking Part 29mWise Thinking Part 36mBPS (2018) - Methods6mBPS (2018) Manipulations I5mBPS (2018) - Manipulations II4mResults Part 15mResults Part 24mRisk Based Auditing & Fraud: Hammersley and Bowlin Studies Part 15mRisk Based Auditing & Fraud: Hammersley and Bowlin Studies Part 28mRisk Based Auditing & Fraud: HZ Study10m

1 reading

Module 7 Overview and Resources10m

6 practice exercises

Lesson 7-1 Knowledge Check30mLesson 7-2 Knowledge Check30mLesson 7-3 Knowledge Check30mLesson 7-4 Knowledge Check30mLesson 7-5 Knowledge Check30mModule 7 Quiz

Week8

Week 8

3 hours to complete

Module 8: Completing the Attest Engagement

3 hours to complete

6 videos (Total 38 min), 3 readings, 4 quizzes

Reviews

4.8

51 reviews

5 stars
81.11%
4 stars
14.44%
3 stars
3.88%
2 stars
0.55%

TOP REVIEWS FROM AUDITING II: THE PRACTICE OF AUDITING

by SBJul 8, 2020

Thank you Dr. Mark for this amazing, well tailored course of Audit practices. I really enjoyed it and got a lot of information in the audit procedures.

by BMNov 23, 2022

Lots of knowledge gained and paired to real life scenarios

by ZIApr 10, 2021

Amazing experience. Content demisfied by Dr. Peecher. Am grateful throughout

by EANov 12, 2021

That was an amazing class. You will gain many many insightful and practical knowledge there. The lecturer was so master and experience the material he taught. Enroll and enjoy the class!

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 II: The Practice of Auditing

Auditing II: The Practice of Auditing

About this Course