4 CPE Many organizations are audited by independent public accountants. The purpose of an audit is to express an opinion on the fairness of presentation of financial information prepared by management. An audit enhances the value of financial information by making it more trustworthy and credible.
In this course, we learn how public accountants plan and execute an audit. We begin with an overview of the financial statement audit itself and move on to a look at audit process, evidence, risk models and core audit principles. Next, we'll talk about internal controls and fraud controls, including the COSO framework, testing controls, fraud schemes and more. We'll wrap up by discussing auditing cycles and audit completion.
Learning Objectives
- Discover the purpose and nature of a financial statement audit, identify the players in the auditing industry, and recognize ethical considerations in auditing
- Identify different forms of auditor’s reports and discover the three phases of the audit process: planning, execution, and completion
- Identify management assertions
- Discover the various forms of audit evidence and the audit risk model
- Discover how to assess inherent risk and calculate financial statement materiality
- Identify different types of manual and electronic internal controls and fraud risks and controls
- Discover approaches for assessing control risk, testing approaches for internal controls, and audit planning and the preparation of audit programs
- Identify approaches to auditing for fraud and auditing the sales cycle
- Discover substantive audit procedures
- Recognize how to conduct audit completion procedures
Last updated/reviewed: March 14, 2024
138 Reviews (625 ratings)
Reviews
Anonymous
(Accountant)
This course had a LOT of good information in it for someone who hasn't been exposed to the auditing side of accounting.
The presentation itself was very quick and sometimes difficult to keep up. I found myself having to stop and rewind several times to make sure I didn't miss anything.
It would be really helpful if the videos were presented as slides so that it would be easier to go back for review. It felt like I wasted a lot of time trying to rewind to just the right place to try to hear what he was saying.
Anonymous
()
Very informative course on the fundamental principles and practices of auditing. The course instructor was very informative with regards to all aspects of this course. I especially enjoyed the lesson on fraud controls. All in all a very worthwhile course. Don't stop until you get to the top and when you get to the top don't stop.
Anonymous
(VP, WFM and BusTech)
Good review of auditing principles as well as relevance to financial statements and reporting. The instructor effectively presented key concepts; however, the supporting materials for this course were less intuitive for knowledge retention and future reference than other courses offered. Nonetheless, a good refresher.
Anonymous
()
Great information shared about the overall audit process and each of its components. The instructor provides examples for each type of evidence gathered in an audit as well as what auditors look for when determining audit risk. There are not PowerPoint documents available, so remember to take notes.
Margo Palmer
( at NA)
This instructor is very effective in sharing his knowledge of auditing; his sense of humor makes a somewhat dry subject much more easy to absorb. I enjoyed the class - it was a great refresher course on the audit process. The section on fraud was my favorite part of the course.
Anonymous
(N/A)
Very comprehensive information for learning the basics on audit mechanisms and controls. I especially liked the presenters energy and enthusiasm. I only wished that there was a downloadable handout with even some basic bullet points. Otherwise great info/presentation.
Anonymous
()
Great high-level course as a refresher on auditing principles - thorough videos along with course supporting materials. The course was a great opportunity to review previously learned auditing terminology and principles. Highly recommend!
Susan Johannsen
(Bookeeper at Self)
I like the Mentor's sense of humor. He kept the "28 videos" moving fast enough to be interesting. Also, I appreciated the discussion of US and Canadian standards. Thank you, Blair!
P.S. Yes, advertising DOES work.
Anonymous
(Consultant)
This course was an audit basics overview. Having not worked in the public accounting arena, but going through 30+ audits over the years, it was a good insight into what principles guide the auditors work and opinions.
Tiffany Miller
( at ADP)
This is an excellent refresher course that I would recommend. It is a good suggestion to keep the slide materials for future reference and is also great for recertification of the CPP. I highly recommend this course.
Anonymous
()
Excellent content. This course really did a good job at getting to the meat and potatoes of the content. The content, context, and multiple modes of representation they provide is highly effective and enjoyable!
Anonymous
(Audit Manager)
Blair Cook is a very good instructor. A 4-hour course and he kept the interest level high throughout the course. The lessons on the audit process from beginning to end was very informative and instructive.
Anonymous
()
It is a good course to refresh one's memory regarding the basics of auditing. However, it's always helpful to have slides or supporting documents which one can skim through at the end of the course.
Christopher Wilson
( at Dimensional Fund Advisors)
The course was a good refresher of basic auditing principles. However, it should be kept in mind that terminology can vary slightly based on co.urse provider (e.g. Becker has different terminology)
Mahira Sheikh
(Accounting Manager at DLC Group)
Every year companies go through the audit process. This course helps teach you what they're looking for when assisting with the audit practices of most companies. This course was very helpful.
Anonymous
(HR Director)
This was a fantastic course teaching me about auditing. I went into this course with very little knowledge and now have a deeper understanding of the importance and procedures of an audit.
Anonymous
(Risk manager)
Thanks for Mr.Blair's professional course. I have some difficult in mastering the subject, which sometime annoys me. After I listened the couser, I was updated my knowledge on aduiting.
Anonymous
(Financial Analyst)
I enjoyed this course. It really helped me to refresh my audit knowledge. This course gave a very comprehensive overview of the complete audit process, which I found to be very helpful.
Anonymous
(Internal Audit)
Excellent detailed explanation of financial statements with regards to auditing and the issued reports. In addition, importance of internal controls and auditors role is discussed.
Anonymous
(internal auditor)
При ответе на тесты пришлось не легко, поскольку не все ответы удалось усвоить в процессе обучения
Nichole Karr
(Director - Audits at BMM Testlabs)
The information on the exam was great and there was a lot of detail in the presentation but I wasn't able to view a summary of topics to have on hand to do a quick skim or review.
Anonymous
(Student)
The course was very instructive and covered a lot of detail in a short amount of time. I learned a lot about general auditing procedures, although they are mostly Canadian based.
Anonymous
(solo)
Great course. Stated prerequisite requirements were appropriate and sufficient. Program materials were relevant and contributed to the achievement of the learning objectives.
Anonymous
(Senior Internal Auditor)
Really great course. A good refresher for someone a few years in. I like how it went through the process from beginning to end. Great job in collecting the glossary. Enjoyed it!
Anonymous
(Senior Assistant Controller)
Course touches on basic areas of the auditing process which is very helpful in understanding the auditing process conducted by an external independent auditing firm.
Paul Hong
(Supervisor at RSM)
This was a good review of audit basics that helped me to re-establish the principles of audit. This brought back key concepts which I learned during university.
Anonymous
(Accountant)
Very good course. I took notes throughout the discussion so that I could refer back to them during the test instead of having to find the details in the video.
Anonymous
(Director)
The course was very good. The speaker was very good. He provided a lot of inputs and valuable insights. The material was well organized and well structured.
Anonymous
()
Good overall review of Auditing standards and accounting principles. The instructor did a great job teaching and was very knowledgeable in the subject matter.
Jordan Garcia
(Staff Auditor at BrooksWatson & Co)
I wish there were more supporting documents than just the glossary. Having the power points would be beneficial, especially for someone studying for the CPA.
DAN ZOU
(Payroll manager at Sinopro International Resources Inc.)
Course Contents: – The professional standards and guidelines applicable to an audit – The nature and purpose of auditing – Audit approach and planning
Jennifer Naccarato
(Senior Associate at CNM LLP)
Very well structured. The course materials provided a great overview of the topic and very clear. The pace allowed for a proper understanding of the topic.
Paulo Bechara
(Senior Accountant at Acorns)
Course was good overall. One thing that was kinda of annoying is that it was split into like 30 subsections and there was outro and intro every 10 minutes.
Bennett Harris, CPA
(Sr. Decision Support analyst at Dignity Health)
dozens of 5-minute modules, with same music and catch phrases got really annoying after while. Otherwise, the material and the presenter were very good.
KIM MILLER
( at Miller's Mowing & More)
This webinar brings better understanding to our year in audit. However the supporting materials would not open, making it harder to pass the test.
Eric Cox
(Senior Accountant at Mondo)
If you didn't take auditing in college/never worked in public or just need a refresher - this is your course! loaded with all the auditing basics.
Mary Lee
(Controller at CPA-MOMS)
Easy to listen to the instructor and very informative! I would recommend this course to anyone! Good information for anyone who is doing auditing
Anonymous
(Senior Accounting Manager)
sound quality wasn't good. Wasted time during transitions. Put in his own can't stop won't stop til you get to the top which was super annoying
Anonymous
()
As others have mentioned, I had a little difficulty understanding the speaker. If you can get past that, there is some good information here.
Anonymous
()
Instructive and informative course that provided a thoughtful overview of the audit cycle, including a refresher on some forgotten material.
Samuel Woldeghiorgis
( at DC Government)
Unfortunately, I was unable to see the attached supporting materials. What i saw is only the glossary being repeated on all the attachments.
Anonymous
()
Strong auditing is so critical in our society, as there is lots of knowledge that isn't always effectively passed along within management.
Anonymous
(Accounting Manager)
This is a great review course for those with audit experience, but also a great course for those who have little or no audit experience.
Doug Slaybaugh
( at The CPA Coach)
Good course to refresh auditing skills and knowledge. Appreciate the inclusion of the stages of the audit, as well as internal control.
Anonymous
()
This is a good course on auditing steps, processes and purpose. It looks at different sides of audits and is laid out in a good manner.
David Fisher
(Associate at YPTC)
Nice audit review. It would be nice, however, to have slides included with the source materials to refer to as the course moves along.
Jeremiah Yondah
(Accountant at Quick Return Inc)
This course was challenging and very educating. I learned a lot from this course, tools that i can see myself using in the job field.
Jeffrey Kirsch
(CFO / VP Finance at Kirsch CFO Advisor)
Blair Cook was quite extensive in his audit teachings and obviously very experienced and knowledgeable. I quite enjoyed the course.
Anonymous
(Sr. Accounting Manager)
Even though I have an audit background, this was a very useful overview and refresher on the key components and principles of audit.
Sealtiel Alvarez Sanchez
(Shared Service Center Manager at Aliaxis)
Good audit overview. I liked the way content was presented. I would recommed this class to other people with interest in auditing.
Natalia Lippold
(Certified Payroll Professional at Trivantus, Inc.)
Even though I don't perform audits in my current position, this was a good review of things that I may have forgotten. Thank you.
Mai Kia Vang Thao
( at Arvest Bank)
Provided lots of good information. Maybe supporting materials on the side to help visual learners to print and review.
Anonymous
(Senior Accountant)
The course materials were dense yet very helpful for the overall understanding of audit principles and actual practices.
Jennifer Bor
(Sole Practitioner at Accounting and Business Management Consu..)
just enough hours for help complete my cpe for my cia nnd cpa license without having an overwhelming amount of questions
Anonymous
()
good class and was able to pass test on 1st try will definitely recommend please take the course you will not regret it
Anonymous
(Payroll Supervisor)
Good content but wish I could have pulled the power point for further review. the zip file I got was only a glossary.
Logan Senelis-Jose
(Senior Regional Accountant at Nord Anglia Education)
Absolutely amazing audit course. Truly enjoyed the clear explanations on how a proper audited should be completed.
Anonymous
(Auditor)
Very clear and informational. I suggest this course for every new internal auditor. The instructor loves to teach.
Anonymous
(Assurance Specialist)
Great course! I really like this instructor. Good summary of auditing principles, controls and the audit process.
Liam Keegan
(Assistant Controller at Related Beal LLC)
Great overview of basic auditing principles and practices. Useful for new and inexperienced associates to review.
Anonymous
(Finance Director)
The speaker was not easy to listen to however he covered a great detail and was thorough and easy to understand.
Anonymous
()
Very informative course by Blair. Do not stop until you get to the top and when you get to the top do not stop.
Anonymous
(Payroll Consultant)
Wonderful course, can't say enough good things about it. Highly valuable information for anyone that needs it.
Judith Poli
(Payroll Manager at Odyssey Systems Consulting)
Good examples, enthusiastic presenter, lots of experience, tried to keep a normally dull subject interesting.
Anonymous
(Finance Manager)
This course is great for anyone interested in learning about auditing principles. Would highly recommend.
James Chuang
(Compliance Officer at Silverton Casino Hotel)
Very comprehensive overview of the audit process of financial statements. Good step by step explanation.
Anonymous
(Payroll Coordinator)
I learned a lot about Auditing. Great Class! It made me realize that I do not want to be an auditor.
Anonymous
(CSR)
This was an excellent course to give both an overview and some important details of the audit process
Anonymous
(Controller)
This course is great for any auditor or individual needing to brush up on their auditing knowledge.
Anonymous
(Accountant II)
What you would expect for a foundation level course. The questions proved to be a nice refresher.
Kendra Willson
( at SSA PC)
Course met my expectations given description of the course and was a good review of audit items.
Anonymous
()
We just went through an audit and found that this course helped me better understand the process.
Anonymous
(Consultant - Process Specialist)
Great quick review of the audit process. Blair is one of the reasons I subscribed to Illumeo.
Anonymous
(CFO)
Excellent insight into the audit process. Will help in working with our own outside auditors.
Charles Elwis
(Insurance Broker at Health Guys)
After having been away from auditing for many years, this was an excellent refresher course.
Sam Grosoff
(Associate at RSM)
I enjoyed this course thoroughly and felt as though I learned a lot and gained perspective.
Anonymous
(Consultant)
This course is pretty thorough considering the material it covers within a short time frame.
Anonymous
(Senior Payroll Specialist)
Good course, I appreciate the auditor point of view. Material was interesting and memorable.
Anonymous
()
Course was very thorough and easy to follow and digest. Provided a good review of materials.
Anonymous
(Supervisor)
course should be listened to completely. written materials are not downloaded to reference.
Chukwudinka Mason
(Auditor at National Reconnaissance Office)
I liked everything about this course, I'll recommend it to other students or colleagues
Quinn Bonta
(Associate Consultant at RSM)
Deep dive into audit principles and good test for anyone working in the audit field.
Anonymous
(Controller)
Good overview of auditing principles and practices. Good examples, lengthy material.
Paul Morris
(Director, Compliance and Insurance at Sam Houston State University)
Excellent 4 hour course with lots of good info for the non-auditor or new auditor.
francesca bauman
(sr payroll specialist at Bausch Health US LLC)
There was a lot of information in this course. It felt great to pass the final!
Anonymous
(-)
Blair is the best in the business at CPA CPE and instruction. I appreciate it!
Alex Blonigan
(Consultant at DLC Group)
I would rate this as a good course for refresher on many topics control related
Anonymous
()
Great refresher on auditing. Basic for people that worked in public accounting.
Jose Ponce
(Senior Auditor II at CIBC US)
This was a great overview of general auditing topics and specifics for auditors
Anonymous
(Internal Audit Director)
An excellent presentation. A good recap of the basics.
Thank you Mr. Cook!
Anonymous
(Owner)
Comprehensive course clearly outlining auditing principles put into practice.
Anonymous
(Payroll Training Manager)
zip file would not open. very hard to refer back to material if you need to.
Anonymous
(Consultant)
Good overall refresher to auditing after being out of it for several years.
Anonymous
(Controller)
Very thorough and helpful course. Good refresher on all aspects of an audit.
Anonymous
(Auditor)
The class was a good refresher if you've been on the sidelines for a while.
Anonymous
()
Great course on Auditing principles, refresher or fundamental understanding
Anonymous
(Accountant)
Did a really great job going over the basics of auditing. Highly reccommend
Raveendran Madappattu
View Instructor Profile
Excellent course!!! Well designed with adequate coverage of all key areas.
Thomas Hayes
(Clinical Associate Professor at University of Arkansas)
Well organized and comprehensive. Anyone teaching auditing would benefit.
Anonymous
(Controller)
Very good refresher on audit. Blair puts it in a simple logical approach
Anonymous
()
very good the info of the course as a reminder. thank you so much Blair
Halina Kovel
(Sr Revenue Accountant at Yelp)
Interesting examples and very clear explanation of the Audit basics.
Erika Alpiste
( at ADP)
Very Informative, I highley recommend for anyone needing a refresher.
Angel Riano
(Student at OVU)
I would like that the video could have had subtitle/ closed captions.
Anonymous
()
The information in this course was presented clearly and concisely.
Anonymous
(-)
Extremely comprehensive course. A great refresher. highly recommend.
Anonymous
()
The written materials were weak but the review and quiz was helpful.
Anonymous
()
Good course for new auditors and a good review for experienced ones.
This was an excellent course and covered a number of solid topics.
Anonymous
(Controller)
Great course, good refresher on the audit process. Would recommend
Anonymous
()
very very interesting class. I really enjoyed it and learned alot.
Anonymous
(Director Finance)
Good review of the audit process and very thorough.
Anonymous
(Senior Accountant)
Good overview of Audit procedures, that provided a good refresher.
Anonymous
(VP of Payoll)
Great informative course. Great teacher. Great learning potential.
Anonymous
()
Good course with some basic concepts. A good course! Excellent!
Anonymous
(ESR)
Great Instructure, the executive foot warmer should get a raise.
Anonymous
(Internal Audit Manager)
Well-presented and clear refresher on the overall audit process.
Anonymous
(HCM Rep)
Test was very easy to take and videos were easy to follow along.
Michael Lavin
(Auditor at CBP DHS GOV)
Little quick, but it was fine. We learned. Is this long enough.
Anonymous
(Senior Auditor)
Good course for overview of auditing principles and procedures.
Anonymous
(Accountant)
The tutorial was very well produced. Material was just enough.
Anonymous
(Sr. Accountant)
Great instructor, had good examples. No one topic was too long.
Anonymous
()
As a former auditors, this was a good review of audit concepts.
Anonymous
(Not Provided)
Thorough review and refresher course for auditing essentials.
Anonymous
()
Good beginner course for an overview of auditing key concepts
Anonymous
(Accounting Advisor)
The only supplemental material provided was the glossary...
Alyssa Borenstein
(n/a at Casper)
amazing course! loved this. very informative, lots to learn
Anonymous
()
Excellent course- detailed explanation of the audit process
Brooklyn Thomas
(Intern at Perry and Associates)
The videos were a little long/dry, but I learned a lot!
Anonymous
(Manager)
The videos were informative and detailed,it was through
Anonymous
(Head of Internal Audit)
Hot topic for today - fraud risk. Useful presentation.
Anonymous
(Consultant)
4 easy CPE hours for anyone who has audit experience.
Muhammad Baig
(Managing Director at N/A)
Good coverage of various topics and audit techniques
Anonymous
(Chief of Operations)
Good brush up of the basics. It was a nice refresher.
Anonymous
(Senior Manager, Finance)
Great refresher of auditing terminology and standards
Anonymous
(Bonding Manager)
Material was informative and delivered succinctly.
Anonymous
(Manager)
what happened to the materials...only for MAC IOS?
Anonymous
()
The course was very informative. I learned a lot.
Prerequisites
Course Complexity: Intermediate
No Advanced Preparation or Prerequisites are needed for this course.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA
95113
Contact:
For more information regarding this course, including complaint and
cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to
.
Blair CookDirector of Clarke Inc
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