Duration of the online course: 6 hours and 6 minutes
4.8
(10)
Strong financial decisions depend on trustworthy information, and auditing is the discipline that helps make financial statements credible for investors, lenders, regulators, and business leaders. This free online course builds a clear, practical understanding of what an audit is, why it matters, and how auditors reach conclusions that others can rely on. You will learn to think like an auditor, connecting professional judgment with structured processes that support quality and consistency in real-world engagements.
The course explains how auditing extends beyond legal compliance, highlighting its role in accountability, transparency, and confidence in capital markets. You will explore the difference between auditing, attestation, and assurance, and develop the ability to interpret the meaning and impact of common audit opinions, including the going concern concept and what it signals about an entity’s ability to continue operating. By understanding how audit conclusions are communicated, you will be better prepared to read audit reports with a critical, informed lens.
You will also examine the modern governance and regulatory environment that shapes the profession. Topics such as internal versus external audit, the purpose of audit committees, and the importance of clear ethical expectations help you see how organizations protect stakeholders and manage oversight. The course provides essential context on key standards-setters and why auditing standards exist, helping you understand how auditors align their work with professional requirements while maintaining consistency across engagements.
From engagement planning through evidence gathering, you will learn the logic of the audit process: accepting or continuing a client relationship, setting expectations through an engagement letter, and protecting independence both in fact and in appearance. You will strengthen your grasp of how auditors assess risk, design procedures, and use tests to support conclusions. Concepts such as the fraud triangle, audit risk model, and management assertions connect business realities with audit objectives, while key ideas like vouching versus tracing clarify how evidence supports completeness and accuracy. By the end, you will have a solid foundation for further study or career growth in accounting, audit, finance, or compliance.
Video class: What is an Audit?
06m
Exercise: What is the primary purpose of an audit in the context of financial statements?
Video class: Why Auditing is Important
07m
Exercise: Why is auditing important beyond legal requirements?
Video class: Auditing, Attestation, and Assurance
05m
Video class: The 4 Types of Audit Opinions
06m
Video class: Going Concern Opinion
03m
Exercise: What action must an external auditor take if they conclude that there is substantial doubt about an entity's ability to continue as a going concern?
Video class: Internal Audit vs External Audit
03m
Video class: The Sarbanes Oxley Act of 2002
10m
Exercise: What was one of the key requirements imposed on the CEOs and CFOs of publicly traded companies by the Sarbanes-Oxley Act?
Video class: The Audit Committee
04m
Exercise: What is a key requirement for members of the Audit Committee in a corporation?
Video class: Auditing Standards
05m
Video class: PCAOB vs. AICPA Auditing Standards
04m
Video class: The Audit Process
06m
Video class: Client acceptance or continuance
02m
Video class: Independence in Fact vs. independence in Appearance
02m
Exercise: Why is it important for an auditor to have both independence in fact and independence in appearance?
Video class: The Engagement Letter
01m
Exercise: What is the primary purpose of the engagement letter between an auditor and a client?
Video class: The 3 Types of Audit Tests
04m
Video class: The Fraud Triangle
03m
Exercise: What are the three factors of the fraud triangle?
Video class: The Audit Risk Model
07m
Video class: 9 Types of Audit Procedures and Evidence
06m
Video class: Vouching vs. Tracing
02m
Video class: Management Assertions (Auditing)
03m
Exercise: What are the two general categories of management assertions in financial statements?
6 hours and 6 minutes of online video course
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Course comments: Auditing in Accounting
Precious Babirye
It is very knowledgeable and helpful.
Artem Zverev
Cool