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381136: Financial Auditing (Online)
MGMT-X 423

  • Summer 2021
  • Section 1
  • 4 Credits
  • 06/21/2021 to 09/05/2021
  • Modified 06/07/2021


This course examines the auditing principles governing the responsibilities of certified public accountants in their examination of clients' financial statements. Professional ethics, legal liability, internal control, evaluation, sampling techniques, and audit reports, as well as a study of the statements on auditing standards issued by the American Institute of CPAs also are discussed. Instruction emphasizes verification of the major items reported in clients' statements, audit programs, and case studies.


Upon completion of the course, the student will be able to write an audit opinion appropriate to the circumstances, develop internal controls for each major accounting cycle, develop audit objectives for each major balance sheet and income statement account, and develop audit procedures and programs to accomplish audit objectives. This course is to be completed in eleven weeks. Since most participation is asynchronous, you may log in at any time. You can also review material from prior weeks at any time.


Students who complete the course will be familiar with the following:

  1. The language of auditing.
  2. The audit planning process.
  3. Fundamental Internal Control structures and processes.
  4. Procedures utilized in integrated audits of public companies.
  5. Types and significance of auditors’ opinions.

Note: This course is not designed as a review for the auditing section of the CPA exam. However, the course does contain most of the fundamental auditing concepts covered therein.


Required textbook and Connect Access noted below. 

Principles of Auditing & Other Assurance Services with Connect

  • Author: Whittington & Pany
  • Publisher: McGraw Hill
  • Edition: 21
  • ISBN: 9781259619038
  • Availability: Bookstore
  • Price: 123.00 net

You can also use the digital edition by registering for Connect Plus. 



Students’ grasp of the material will be evidenced by completion of weekly Learn Smart modules, weekly homework, participation in weekly discussion boards, and scores on midterm and final exams. 


Permitted resources:

  1. Your text in any form
  2. Your notes
  3. A calculator
  4. Microsoft Excel
  5. Microsoft Word



The final course grade is based on the following. See WEEKLY COURSE TASKS below.






LearnSmart/Smartbook Modules










Group Case Studies





Midterm Exam


105 105


Final Exam





Total Course Points








Grading Methodology

LearnSmart/Smartbook Modules

Guided assignments graded by Connect Plus


Objective questions and problems graded by Connect Plus.

Group Case Studies

Based on timely and correct posting of declared deliverables and demonstrable contribution to group efforts.  


Multiple choice questions graded by Connect Plus.


100 %
to 97.0%
< 97.0 %
to 90.0%
< 90.0 %
to 87.0%
< 87.0 %
to 80.0%
< 80.0 %
to 77.0%
< 77.0 %
to 70.0%
< 70.0 %
to 0.0%

The standard grading scale applies (%). + grades will be granted. 

All grades are final. 

Institutional Policies

Student Conduct

Students are subject to disciplinary action for several types of misconduct or attempted misconduct, including but not limited to dishonesty, such as cheating, multiple submission, plagiarism, or knowingly furnishing false information to the University; or theft or misuse of the intellectual property of others or violation of others' copyrights. Students are encouraged to familiarize themselves with policy provisions which proscribe these and other forms of misconduct at:

Services for Students with Disabilities

In accordance with the Americans with Disabilities Act of 1990, UCLA Extension provides appropriate accommodations and support services to qualified applicants and students with disabilities. These include, but are not limited to, auxiliary aids/services such as sign language interpreters, assistive listening devices for hearing-impaired individuals, extended time for and proctoring of exams, and registration assistance. Accommodations and types of support services vary and are specifically designed to meet the disability-related needs of each student based on current, verifiable medical documentation. Arrangements for auxiliary aids/services are available only through UCLA Extension’s Service for Students with Disabilities Office at (310) 825-7851 or by email at [email protected]. For complete information see:


Your instructor may post the interim grade Incomplete/I if at the end of the class your overall work is of passing quality but a portion could not be submitted for understandable reasons (e.g. illness). It is your responsibility to petition your instructor for permission to submit work late and to provide an explanation, and it is his or her sole decision whether to accept the explanation. If permitted, the Incomplete/I grade will be posted and a time frame defined for you to submit the missing work, ranging from one to twelve weeks. Incomplete/I grades that remain unchanged after twelve weeks will lapse to F, NP or U. Receiving an I grade entitles you to submit only the missing work your instructor has agreed to accept late, and does not allow other work to be retaken or oblige UCLA Extension to provide continuing access to course materials via Canvas. The Incomplete/I grade is not an option for courses that do not bear credit, such as 700, 800, or 900-level courses. For complete information, see:

All Grades are Final

No change of grade may be made by anyone other than the instructor, and then, only to correct clerical errors. No term grade except Incomplete may be revised by re-examination. The correction of a clerical error may be authorized only by the instructor of record communicating directly with personnel of Student and Alumni Services.

Sexual Harassment

The University of California is committed to creating and maintaining a community where all individuals who participate in University programs and activities can work and learn together in an atmosphere free of harassment, exploitation, or intimidation. Every member of the community should be aware that the University prohibits sexual harassment and sexual violence, and that such behavior violates both law and University policy. The University will respond promptly and effectively to reports of sexual harassment and sexual violence, and will take appropriate action to prevent, to correct, and when necessary, to discipline behavior that violates our policy.

All Extension students and instructors who believe they have been sexually harassed are encouraged to contact the Department of Student and Alumni Services for complaint resolution: UCLA Extension, Suite 113, 10995 Le Conte Ave., Westwood; Voice/TTY: (310) 825-7031. View the University’s full Policy on Sexual Harassment and Sexual Violence at

Additional Items

Protecting Privacy and Data During Live Instruction

Live meeting sessions for this class, when applicable, are being conducted over Zoom. As the host, the instructor may be recording live sessions. Only the host has the ability to record meetings, no recording by other means is permitted. Recorded sessions will be posted in the Videos area of this class unless otherwise notified. Due to privacy, recordings are not available for download and are only accessible via Canvas for the duration of the class. If you have privacy concerns and do not wish to appear in the recording, do not turn on your video and/or audio. If you also prefer to use a pseudonym instead of your name, please let the instructor know what name you will be using so that the instructor knows who you are during the session. To rename yourself during a Zoom meeting, click on Participants, click on your name, click on More, click on Rename. If you would like to ask a question, you may do so privately through the Zoom chat by addressing your chat question to the instructor only (and not to ""everyone""). Additionally, chat may be used and moderated for live questions, and saving of chats is enabled. If you have questions or concerns about this, please contact the instructor via Canvas Inbox.

Pursuant to the terms of the agreement between Zoom and UCLA Extension, the data is used solely for this purpose and Zoom is prohibited from re-disclosing this information. UCLA Extension also does not use the data for any other purpose. Recordings will be deleted when no longer necessary. However, recordings may become part of an administrative disciplinary record if misconduct occurs during a video conference.

Course and Instructor Evaluation

UCLA Extension values your feedback on course and instructor evaluations. We ask all students to take a few minutes to complete an end-of-course evaluation survey. Updates to the course and instruction are influenced by your feedback. Understanding your student experience is essential to ensure continuing excellence in the online classroom and is appreciated by your instructor and the UCLA Extension academic leadership.

Your participation in a survey is voluntary, and your responses are confidential. After instructors submit grades, they will be given an evaluation report, but this report will not contain your name.

About Your Online Course Materials

Please note the following about online course components at UCLA Extension:

  • Students must have basic computer skills, including the use of word processing software, email, and the ability to use internet browsers, such as Safari, Firefox, or Chrome.
  • Students are responsible for meeting the technical requirements of Canvas and familiarizing themselves with the Canvas Learning Management System.
  • Students are responsible for keeping a copy of all assignments and work submitted, and to be aware of all assignments, due dates, and course guidelines.
  • Students are encouraged to keep and/or download a local copy of their assignment files, as access to the online environment of a specific course is limited to 30 days after the final course date, as listed in the course catalog.

    If you need assistance downloading student materials from your course, please contact Canvas Support or the UCLA Extension Learning Support Team.

UCLA Extension Canvas and Learning Support

For immediate 24/7 Canvas technical support, including holidays, click on Help (located on the menu to the left) where you can call or chat live with a Canvas Support representative.

UCLA Extension Instructional Design and Learning Support
The UCLA Extension Learning Support staff assists both students and instructors with Canvas-related technical support, as well as general and administrative questions.

Learning Support staff is available Monday through Friday, from 8 AM to 5 PM (Pacific Time), except holidays:


COURSE OUTLINE - Due Dates are also found on Connect. All work is due 11:45 PM on Sunday nights. 

Week Due Date Chapters Assignments 
1 6/27/21 1 and 2 Learnsmart, Homework, Case Study 1
2 7/4/21 3 and 4 Learnsmart, Homework, Case Study 1
3 7/11/21 5 and 6

Learnsmart, Homework, Case Study 2

4 7/18/21 7 and 8 Learnsmart, Homework, Case Study 2
5 7/25/21 1-8 Midterm Exam
6 8/1/21 11 and 12

Learnsmart, Homework, Case Study 3

7 8/8/21 13 and 14 Learnsmart, Homework, Case Study 3
8 8/15/21 15 and 16 Learnsmart, Homework, Case Study 4
9 8/22/21 17 and 18 Learnsmart, Homework, Case Study 4
10 8/29/21 11-18 Final Exam