Auditing Basics (Professional Course Level)

Learn the fundamentals of auditing to excel in accounting and auditing career
3.8 (7 ratings)
Instead of using a simple lifetime average, Udemy calculates a
course's star rating by considering a number of different factors
such as the number of ratings, the age of ratings, and the
likelihood of fraudulent ratings.
2,759 students enrolled
81% off
Take This Course
  • Lectures 35
  • Length 2.5 hours
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
Wishlisted Wishlist

How taking a course works


Find online courses made by experts from around the world.


Take your courses with you and learn anywhere, anytime.


Learn and practice real-world skills and achieve your goals.

About This Course

Published 2/2015 English

Course Description

Are you an Accounting or Finance Professional?

Are you an Accounting or Finance Student planning a career in either of the fields?

Are you a Professional Course Student planning career as Auditor?

Then this course is for you.

Welcome to Auditing Basics.

The basic purpose of Auditing is to confirm the authenticity of Books of Accounts prepared by an accountant.

So, the auditing begins, where the function of an accountant ends.

Auditing is done to determine the true and fair picture of accounts.

Auditing is done by examining the books of accounts with supporting documents in order to detect and prevent fraud and error.

Auditing provides lots of benefits like

a) Verification of Books of Accounts

b) Independent Opinion

c) Moral Check

d) Protection of the Rights and Interests of Share holders

e) Reliance by Outsiders

f) Ensures compliance with level requirements

g) Strengthens Internal Control

Hence, by taking this course, you will learn

i) Evolution of Auditing

ii) Meaning of Auditing

iii) Features of Auditing

iv) Objectives of Auditing

v) Principal aspects of Auditing

vi) Benefits of Auditing

vii) Limitations of Auditing

viii) Statutory Audit

ix) Internal Audit

x) Secretarial Audit

xi) Cost Audit

xii) Tax Audit

xiii) Bank Audit

xiv) Insurance Audit

xv) Management Audit

xvi) Tools of Audit

This course is structured in Self paced learning style.

You may find accounting terminologies used in this course. Hence, you should have Basic knowledge of Accounting.

Advanced auditing tools and concepts will be launched as separate courses in the due course.

What are the requirements?

  • Basics of Accounting
  • Basics of Financial Statements

What am I going to get from this course?

  • Understand Meaning of Audit
  • Understand Principal aspects of Audit
  • Understand Benefits of Auditing

Who is the target audience?

  • Accounting / Finance Professionals
  • Accounting / Finance Students
  • CA / CMA / CS / CFA / CPA / CIMA Students

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.


Section 1: Introduction
Purpose of Auditing
Evolution of Auditing
Meaning of Auditing
Features of Auditing
Objectives of Auditing
Principal aspects of Auditing
Section 2: Pros and Cons of Auditing
Benefits of Auditing
Limitations of Auditing
Section 3: Vouching
General Consideration in Audit of Cash Transactions
Section 4: Audit of Capital Expenditure
Capital Expenditure and Revenue Expenditure
What is Depreciation
Purpose of Providing Depreciation
Depreciation on Wasting Assets
Methods of Providing Depreciation
Factors to be considered in Selecting Depreciation Policy
Section 5: Auditors Independence
Concept of Auditors Independence Part 1
Concept of Auditors Independence Part 2
Persons disqualified for Appointment as Auditor of Company as per Companies Act
Independence vis-à-vis Indebtedness of Auditor
Introduction to Audit Evidence
Introduction to Sufficiency and Appropriateness of Audit Evidence
Sufficiency of Audit Evidence
Appropriateness of Audit Evidence
Sources of Audit Evidence
Audit Procedures to obtain Audit Evidence
Risk Assessment and Nature and Timing of Audit Procedures
Audit Procedures to obtain Audit Evidence Detailed Explanation
Tests of Controls
Timing of Tests of Control
Using Audit Evidence obtained in Previous Audits
Evaluating the operating effectiveness of controls
Substantive Procedures
Bonus Lecture - Discount Coupon Links for other Courses
8 pages

Students Who Viewed This Course Also Viewed

  • Loading
  • Loading
  • Loading

Instructor Biography

I am a Chartered Accountant with tonnes of passion for teaching.

I teach Financial Management & Strategic Financial Management for Chartered Accountancy, Cost and Management Accountancy and Company Secretary students in Ernakulam, India. I also hold Post Graduate Diploma in Business Administration in Finance from Symbiosis, Pune and Bachelors in Commerce, from Loyola College, Chennai.

I worked in State Bank of India as Assistant Vice President - Credit for a period of four years after which i started my Chartered Accountancy Practice. During the stint in State Bank of India, I worked on credit proposals of Mid Corporate Units and gained good experience in Financial Analysis, Risk Assessment, Viability Study, Evaluating business models, Project Finance, Working Capital Management, etc.

I conduct work shops for Entrepreneurs, Chartered Accountancy / Cost and Management Accountancy Students on the topics like Project Finance, Credit Risk Assessment, Entrepreneurship Development, Finance for Non Finance Executives, etc.

I love teaching and i want fundamentals of accounting and finance to reach students and so i am here.

Ready to start learning?
Take This Course