In the Effects panel, you can find audio effects inside the Audio Effects bin. Depending on the number of channels in the audio track, you apply effects from either the 5.1, Stereo, or Mono bins.

You apply and edit audio clip effects much as you apply effects to video clips: Select a clip in the Timeline panel and drag an audio effect onto the clip or into the Effect Controls panel, and then adjust the effect options in the Effect Controls panel. You adjust options by entering values, dragging sliders, scrubbing underlined text, or manipulating the graph in the Effect Controls timeline.