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  2. /Audit & Assurance
  3. /Internal Audit

Financial Statement Auditing Principles

In this multi-part course, we are going to learn how public accountants plan and execute an audit.

Created byBlair Cook Jennifer Nicholson
BeginnerUpdated Aug 2, 2022

What You'll Learn

  • check_circleTo discover the purpose and nature of a financial statement audit
  • check_circleTo identify the players in the auditing industry
  • check_circleTo recognize ethical considerations in auditing
  • check_circleTo identify different forms of auditor’s reports
  • check_circleTo discover the three phases of the audit process: planning, execution, and completion
  • check_circleTo Identify management assertions
  • check_circleTo discover the various forms of audit evidence
  • check_circleTo identify different types of manual and electronic internal controls
  • check_circleTo identify different types of fraud risks and controls
  • check_circleTo discover approaches for assessing control risk
  • check_circleTo discover testing approaches for internal controls
  • check_circleTo identify approaches to auditing for fraud
  • check_circleTo describe substantive audit procedures

About This Course

Master the fundamental principles of Financial Statement Auditing in this comprehensive course. Designed for aspiring and practicing public accountants, this course delves into the intricate process of planning and executing an audit to express an opinion on the fairness of financial information. You will gain a deep understanding of why financial statement audits are crucial for businesses and stakeholders.

Through engaging content and practical applications, you will learn to:

  • Understand the regulatory and ethical frameworks governing audits.
  • Grasp the various stages of an audit, from engagement acceptance to report issuance.
  • Develop skills in assessing and responding to audit risk.
  • Identify and apply appropriate audit procedures for different financial statement accounts.
  • Interpret and communicate audit findings effectively.

By the end of this course, you will be equipped with the essential knowledge and skills required to confidently navigate the complexities of financial statement auditing, ensuring accuracy and reliability in financial reporting.

Course Content

5 activities • 28 videos • duration: 3h 52m

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An Overview of the Financial Statement Audit-Part16 videos • 47 min
  • videocamIntroduction
    Duration 10:42
  • videocamPlayers of the audit industry
    Duration 5:50
  • videocamGenerally Accepted Auditing Standards
    Duration 7:53
  • videocamAuditing Ethics and Rules of Professional Conduct
    Duration 12:50
  • videocamIndependent Auditors’ Report
    Duration 5:27
  • videocamAuditor Report Reservations
    Duration 4:57
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Auditing Principles-Part16 videos • 1.1 hours
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Internal Controls and Fraud Controls-Part110 videos • 1.1 hours
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Substantive Audit Work and Completion Procedures-Part16 videos • 1 quiz • 56 min
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Final Exam-Part11 quiz

Your Instructor

Blair Cook Jennifer Nicholson

CPA, CA Leadership

menu_book55 courses
star5,700 reviews

Blair is a seven-time CFO, a director, and an educator at Executive Finance Partners - a professional development and executive coaching firm for financial professionals and executives. He also serves as a corporate director and audit committee chair of publicly listed companies: Terravest Industries and Clarke Inc. He is also the Board Treasurer of the Devour Food & Film Festival and serves on various committees of CPA Nova Scotia. Blair is the author of The Illiterate Executive: An Executive’s Handbook for Mastering Financial Acumen.

Credit Information

Is this course eligible for my CPD requirements as a Canadian CPA?

Provincial regulators of CPAs in Canada do not require that independent providers of CPD be approved to offer courses. Instead, individual CPAs are responsible for assessing whether a CPD activity meets their requirements, and may take activities from any source provided those requirements are met.

Every course offered on LearnFormula is delivered by a qualified subject matter expert or learning organization, and advances learning objectives that are relevant to the responsibilities or professional competencies of Canadian CPAs. All activities on LearnFormula are quantifiable in terms of hours, and are also verifiable, in that users receive documented evidence of their attendance via a certificate of completion after finishing a course (and this certificate is stored by LearnFormula indefinitely). Nearly 100,000 Canadian CPAs successfully satisfy their CPD requirements via LearnFormula on an annual basis.

What Students Are Saying

4.6 out of 5
Student's Choice
123 reviews
  • WR
    William R.
    starstarstarstarstar

    It was a solid, well-rounded course although some parts were fairly basic

  • GN
    Giuseppe N.
    starstarstarstarstar

    An excellent, professional speaker.

  • CC
    Cristina C.
    starstarstarstarstar

    Thank you!

  • AM
    AGLAIA M.
    starstarstarstarstar

    Great reminder

Frequently Asked Questions

We are a registered provider with 300+ associations and regulatory bodies worldwide. We operate across 27 global markets including Canada, the US, Australia, and the UK. Every course page clearly displays its specific accreditations. Upon completion, you receive a professional certificate that can be validated online. Our certificates include all necessary accreditation details, credit hours, and completion dates, and are formatted specifically to meet the submission requirements of most global regulatory bodies.

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