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 AUDITING AND ASSURANCE: SPECIALIZED INDUSTRIES

(Subject Code & Description)
Date: February 6, 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.
CHAPTER 2: AN OVERVIEW OF THE ACCOUNTABILITY ARRANGEMENTS IN THE PUBLIC
SECTOR

.1 As set out in Chapter 1, the institutional or organizational arrangements of the public sector
differ between jurisdictions and countries. However, the principles of governance are
considered applicable to all administrative arrangements.

.2 In most countries there are distinct roles or functions in establishing and maintaining an
effective overall governance framework. The purpose of this Chapter is to provide an
overview of the main functions of role-players in relation to overall governance in the public
sector. The remainder of this Study focuses mainly on the governance responsibilities of the
governing body of entities under the control of government, while Chapter 9 applies the
recommendations on governance set out in Chapters 3 to 8 to central government
departments.

OVERALL RESPONSIBILITY TO DETERMINE THE GOVERNANCE FRAMEWORK

.3 National cultural norms and values, and rules and regulations usually dictate the structure of
the regulatory framework and its key constituent bodies which, in turn, reflect the nature and
level of financial accountability to civil society. In many countries the responsibility to
determine the overall governance framework is usually the responsibility of the Legislature
and/or Executive arms of government on behalf of the civil society.

.4 The roles of each of these parties in relation to the overall governance framework often
overlap. For example, the Legislature may initiate or provide the authority for the
establishment of regulatory or oversight bodies and may approve/comment on governance
policies formulated by the Executive (Ministers as the political heads).

.5 To enable Parliament to effectively hold the government accountable for its performance in
the use of resources and management of assets, clarity on the boundaries of the
government reporting entity is essential. Accountability cannot be effective without the
provision of complete and appropriate information.

.6 It is normally the responsibility of the Executive that controls other entities or agencies, to
ensure that appropriate governance arrangements are applied in all such controlled entities.
It is not adequate to only appoint a governing body of a controlled entity, without ensuring
mechanisms are in place to secure adherence to recommendations of governance. Similarly,
governing bodies of such controlled entities also have a responsibility to ensure governance
of the entities under their control, while government is the ultimate controlling entity.

.7 Where financial support is given to an entity, this entity will not necessarily form part of the
entities controlled by government, as it is a prerequisite that the definition of control be met
to be included in the consolidated reporting entity. However, the Executive providing the
financial assistance needs to be held accountable to ensure that government receives value
for money for the financial assistance provided. The entity receiving financial assistance is
usually required to report adequate and appropriate information to the Executive.

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
 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

say no to plastic bags.

As a student, I have learned that being accountable to every action is necessary. So as an accountable student, I must
know that there are responsibilities that I am accountable of. As what the reading report stated, “ . When accountability
works well, it enables a degree of feedback between the Government and the public that it serves.”

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 responsible and accountable of actions did, not only as a student but as a human living in a society.

Prepared by: Checked by:

ALVAREZ, HAZEL C. PROF. GIL ANACIN, CPA

Student Professor/Instructor