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.
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Auditing II: The Practice of Auditing
Taught in English
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![Mark E. Peecher, PhD, CPA](https://d3njjcbhbojbot.cloudfront.net/api/utilities/v1/imageproxy/https://coursera-instructor-photos.s3.amazonaws.com/bd/1276b0023b11e8b444555d4be4ff5d/peecher2.jpg?auto=format%2Ccompress&dpr=1&w=75&h=75&fit=crop)
Instructor: Mark E. Peecher, PhD, CPA
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There are 9 modules in this course
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 quiz1 discussion prompt
In this module, you will be introduced to the concept of strategic systems auditing (SSA). First, you will learn about the SSA approach and how it impact the audit. Then, you will learn about strategic analysis and strategic business risks.
What's included
13 videos1 reading4 quizzes
In this module, you will be introduced to the concept of triangulation, which looks at three fundamental sources of audit evidence. First you will learn about the three sources of evidence, which are entity business states, management information intermediaries, and management business representations. Next, you will learn how evidence triangulation can be applied to the WorldCom scandal.
What's included
10 videos1 reading4 quizzes1 peer review
In this module, you will be introduced to the concept of internal controls. First, you will learn about different components of internal controls and how they impact the audit. Next, you will learn about different audit strategies around controls: Substantive strategy vs reliance strategy. Lastly, you will learn about the categories of internal control weaknesses.
What's included
6 videos1 reading3 quizzes
What's included
7 videos1 reading3 quizzes
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.
What's included
8 videos1 reading5 quizzes
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.
What's included
8 videos1 reading5 quizzes
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.
What's included
12 videos1 reading6 quizzes
What's included
5 videos3 readings4 quizzes1 plugin
Instructor
![Mark E. Peecher, PhD, CPA](https://d3njjcbhbojbot.cloudfront.net/api/utilities/v1/imageproxy/https://coursera-instructor-photos.s3.amazonaws.com/bd/1276b0023b11e8b444555d4be4ff5d/peecher2.jpg?auto=format%2Ccompress&dpr=1&w=75&h=75&fit=crop)
Recommended if you're interested in Business Essentials
University of Illinois at Urbana-Champaign
University of Illinois at Urbana-Champaign
Coursera Project Network
University of Colorado System
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This course is part of the following degree programs offered by University of Illinois at Urbana-Champaign. If you are admitted and enroll, your coursework can count toward your degree learning and your progress can transfer with you.
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Frequently asked questions
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.
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.
You will be eligible for a full refund until two weeks after your payment date, or (for courses that have just launched) until two weeks after the first session of the course begins, whichever is later. You cannot receive a refund once you’ve earned a Course Certificate, even if you complete the course within the two-week refund period. See our full refund policy.