Colegio de San Gabriel Arcangel, Inc.

Founded 1993
Area E, Fatima 1, Sapang Palay, City of San Jose del Monte, Bulacan
Recognized by the Government: DepEd, TESDA and CHED
PACUCOA Accredited – Level 1 Status
 Telefax No. (044) 7600-301 /  0915-810-5686

READING REPORT in OPERATIONS AUDITING

(Subject Code & Description)

Date: FEBRUARY 8, 2021

The title of the book/ article I have read is: ________________________________________________________

AUTHOR’S LOGIC: The author is conveying the message/idea of:

Example: “Green” branding of businesses has gone too far and no longer carries the same sort of impact it once did.
Today, so many people are concerned with the environment that many businesses try to represent themselves as being
“green.” They want to have a reputation for being environmentally conscious.
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an
organizations operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined
approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

STUDENT’S LOGIC: Provides learners with an opportunity to reflect and think about how they actually solve problems and
how a particular set of problem solving strategies is appropriate for achieving their goal. What is to be accomplished/learned?

Example: In support of the Supermarket “Green” initiatives, I bring my own shopping bags for grocery shopping and
say no to plastic bags.
As a student, we must possess the character of the internal auditor as being independent, adding more value and to
improve an organizations operation. Being at school, we need to apply it as our daily conviction to ourselves.

VISION: MAN OF GOD – VIR ENIM DEI. “A leading transformational leadership institution with a unique
Gabrielian Culture of Discipline, Socially Responsible, Interdependent, Functionally Productive, Godly
Individuals and reaching the marginalized to thrive in the global community.
In aligning to the Vision and Mission of the College, I can apply what I have learned from my readings by:
Example: Being more aware about eco-friendly practices you can adopt at home so that we can make a positive difference as
socially responsible graduates.
Being more independent, giving value to what needed to be valued. And to help contribute to school’s improvement.

Prepared by: Checked by:

ALVAREZ, HAZEL C. PROF. FRANCIS MATEOS, CPA

Student Professor/Instructor
 Colegio de San Gabriel Arcangel, Inc.
Founded 1993
Area E, Fatima 1, Sapang Palay, City of San Jose del Monte, Bulacan
Recognized by the Government: DepEd, TESDA and CHED
PACUCOA Accredited – Level 1 Status
 Telefax No. (044) 7600-301 /  0915-810-5686

LEARNING DIARY in OPERATIONS AUDITING

(Subject Code & Description)

Date: February 8, 2020

I learned in our prayer that

We should thank God for allowing us to experience great things, to thank Him for giving us everything
we needed. And to ask Him for guidance in everything we will do, as always.

My action today is to
Listen carefully to what our professor and classmates is discussing and to apply it in my daily life.

In our lessons for today, I have learned about:

1. That in internal audit there is, INDEPENDENCE is the freedom from conditions that threaten the
ability of the internal audit activity to carry out internal audit responsibilities in an unbiased manner.
2. OBJECTIVITY is an unbiased mental attitude that allows internal auditors to perform engagements in
such a manner that they believe in their work product and that no quality compromises are made.
3. ASSURANCE SERVICES - An objective examination of evidence for the purpose of providing an
independent assessment on governance, risk management, and control processes for the
organization.
4. CONSULTING SERVICES - Advisory and related client service activities, the nature and scope of which
are agreed with the client, are intended to add value and improve an organization’s governance, risk
management and control processes without the internal auditor assuming management
responsibility.
5. Add Value - The Internal Audit activity adds value to the organization and its stakeholders when it
considers strategies, objectives, and risks; strives to offer ways to enhance governance, risk
management and control processes; and objectively provides relevant assurance.
6. GOVERNANCE is the combination of processes and structures implemented by the board to inform,
direct, manage, and monitor the activities of the organization toward the achievement of its
objectives.
7. CONTROL - Any action taken by management, the board, and other parties to manage risk and
increase the likelihood that established objectives and goals will be achieved.
8. The SYSTEMATIC AND DISCIPLINE APPROACH requires that internal auditors identify, analyze,
evaluate, and document information to support the results of an engagement and the internal
auditors’ conclusions.
9. The purpose of auditing internally is to provide insight into an organization’s culture, policies,
procedures and management oversight by verifying internal controls such as operating
effectiveness, risk mitigation controls, and compliance with any relevant laws or regulations.
10. One of the main objective of internal audit is, to provide assurance on the adequacy, efficiency and
effectiveness of the whole control environment.
I will memorize the above learning points, explain them in my own words, and apply them in our activities.

VISION: MAN OF GOD – VIR ENIM DEI. “A leading transformational leadership institution with a unique
Gabrielian Culture of Discipline, Socially Responsible, Interdependent, Functionally Productive, Godly
Individuals and reaching the marginalized to thrive in the global community.
 Colegio de San Gabriel Arcangel, Inc.
Founded 1993
Area E, Fatima 1, Sapang Palay, City of San Jose del Monte, Bulacan
Recognized by the Government: DepEd, TESDA and CHED
PACUCOA Accredited – Level 1 Status
 Telefax No. (044) 7600-301 /  0915-810-5686

I can connect my learning today with the vision and mission of our school by:
As a student of Colegio de San Gabriel Arcangel, I can be more responsible and independent individual and
most likely to perform the values that our school taught me.

Prepared by: Checked by:

ALVAREZ, HAZEL C. PROF. FRANCIS MATEOS, CPA

Student Professor/ Instructor