FAR EASTERN UNIVERSITY

Vision
Guided by the core values of Fortitude, Excellence and Uprightness, Far Eastern University aims to be a university of choice in Asia

Mission
Committed to the highest intellectual, moral and cultural standards, it strives to produce principled and competent graduates. It nurtures a service-oriented
and environment conscious community which seeks to contribute to the advancement of the global society.

Quality Policy
Far Eastern University is committed to providing quality educational services. Each person is expected to do the job right the first time with the intention of
consistently satisfying the requirement of our students, other members of FEU community, and external parties. Under any given circumstances we shall
adhere to all the requirements and standards for continuous improvement and effectiveness of the quality management systems.

INSTITUTE OF ACCOUNTS, BUSINESS AND FINANCE

Vision
Far Eastern University – Institute of Accounts, Business and Finance (IABF) envisions itself to be the preferred business school in Asia.

Mission
The Institute of Accounts, Business and Finance is committed to produce principled and competent business graduates, espousing Fortitude, Excellence and
Uprightness. IABF will promote community engaged, service-oriented individuals who will shape and build strong organization in the future.

DEPARTMENT OF ACCOUNTANCY

Vision
Guided by the core values (Fortitude, Excellence and Uprightness) of a true-blooded Tamaraw, the Accountancy Program of FEU– IABF envisions itself as a
Center of Excellence in Accountancy Education.

Mission
It commits to develop future responsible accounting professionals through holistic accountancy curriculum, extensive and innovative delivery of instruction,
competent and highly qualified faculty, state-of-the-art facilities, industry and community-based researches, practical-based student apprenticeship program
and extensive community.
Course Title: Enterprise Risk Management
Course Code: AUD1203
Credits: Three (3) units
Prerequisite: AUD1201
Course Description:
This course is intended to build understanding of students on fundamental concepts of enterprise risk management. At the end of course,
students are expected to be competent on these fundamental concepts in applying to actual corporate setting, and on how to evaluate and
improve enterprise risk management.

Program Expected Learning Outcomes (PELO):

A graduate of the BS Internal Auditing program is expected to achieve the following learning outcomes:
1. Resolve business issues and problems, with a global and strategic perspective using knowledge and technical proficiency in the areas of
internal auditing, financial accounting and reporting, cost accounting and management, management accounting and control, taxation,
law and accounting/auditing information systems with integrity, objectivity and competence;
2. Prepare financial statements and other-related reports in accordance with applicable accounting and auditing standards, taxation and
business laws.
3. Conduct internal auditing research through independent studies of relevant literature and appropriate use of internal auditing theory and
methodologies.
4. Develop a strategic business plan using the management concepts and principles holistically.
5. Employ technology as a business tool in capturing financial and non-financial information, generating reports and making decisions
6. Interpret the business environment through various financial and management analysis.
7. Evaluate accounting-related topics and contemporary issues through written inquiry and investigation.
8. Apply relevant auditing standards to financial statements audit for reliable communication of results to stakeholders.
9. Confidently maintain a commitment to good corporate citizenship, social responsibility and ethical practice in performing functions as an
internal auditor.
10. Prepare income tax returns and other business documents in compliance with regulatory requirements.
11. Apply knowledge and skills that will successfully respond to various types of assessments (including professional licensure and
certifications.
12. Demonstrate leadership and interpersonal skills through collaborative work.
13. Communicate effectively in a variety of domain including writing, speaking, listening and reading in the context of accounting and business.
14. Adapt to changing environment by responding positively to challenges.
15. Manifest the FEU core values – Fortitude, Excellence and Uprightness.

Course Learning Outcomes:

 Upon completion of the course, the students are expected to:
1. Build an understanding on fundamental concepts of risk management
2. Learn globally accepted management frameworks (i.e., COSO, ISO 31000, GAIT, NIST)
3. Learn processes of risk management according to COSO
4. Build an understanding on how corporate governance is related to enterprise risk management
5. Learn the elements of internal and external environments in managing risks
6. Build an understanding on roles of assurance and consulting activities to risk management
7. Comprehend understanding on developing risk mitigation plan
8. Prepare and present results of risk mitigation plan based on actual risk management case study analysis

Course Expected Learning Outcomes (CELO) Program Expected Learning Outcomes (PELO)
CELO 1 Build an understanding on fundamental concepts of risk management 1, 2, 3, 9, 11, 14, 15
CELO 2 Learn globally accepted management frameworks (i.e., COSO, ISO 31000, 1, 2, 3, 9, 11, 14, 15
GAIT, NIST)
CELO 3 Learn processes of risk management according to COSO 1, 2, 3, 9, 11, 14, 15
CELO 4 Build an understanding on how corporate governance is related to enterprise 1, 2, 3, 9, 11, 14, 15
risk management
CELO 5 Learn the elements of internal and external environments in managing risks 1, 2, 3, 9, 11, 14, 15
CELO 6 Build an understanding on roles of assurance and consulting activities to 1, 2, 3, 9, 11, 14, 15
enterprise risk management
CELO 7 Comprehend understanding on developing risk mitigation plan 1, 2, 3, 9, 11, 14, 15
CELO 8 Prepare and present results of risk mitigation plan based on actual risk 1, 2, 3, 9, 11, 14, 15
management case study analysis

Time Lesson / Topics Learning Strategy / Methodology / Student Output Evaluation / Assessment
Frame- Outcomes Activities
Week
1 to 4 Fundamental Concepts of Risk CLO 1 • Lectures • Results of Case • Quiz
Management CLO 2 • Assignments study and role play • Recitation
a) Explain different definitions of CLO 3 • Case study • Passing mark on • Case study
Risk and Risk Management Discussion quizzes and
b) Discuss globally accepted recitations
frameworks on risk
 Time Lesson / Topics Learning Strategy / Methodology / Student Output Evaluation / Assessment
Frame- Outcomes Activities
Week
management internal control
(i.e., COSO, ISO 31000, GAIT,
NIST, CoCo, COBIT)
c) Discuss the Risk Management
Process according to the
following COSO
5 to 8 Relevance of Enterprise Risk CLO 4 • Lectures • Results of Case • Quiz
Management (ERM) to Corporate CLO 5 • Assignments study and role play • Recitation
Governance • Case study • Passing mark on • Case study
a) Illustrate the Three Lines of Discussion quizzes and
Defense by IIA recitations
b) Explain different definitions of
Corporate Governance
c) Explain different definition of ERM
d) Illustrate and explain principles
and components of COSO ERM
Framework
e) Discuss ERM concepts and
practices according to COSO
f) Discuss elements of internal
environment according to COSO
affecting corporate governance
g) Discuss elements of external
environment according to COSO
affecting corporate governance
9 to 11 Roles of Assurance and Consulting CLO 6 • Lectures • Results of Case • Quiz
Activities to ERM • Assignments study and role play • Recitation
a) Explain the definition of Internal • Case study • Passing mark on • Case study
Auditing, according to IIA, and its Discussion quizzes and
role to risk management recitations
 Time Lesson / Topics Learning Strategy / Methodology / Student Output Evaluation / Assessment
Frame- Outcomes Activities
Week
b) Explain assurance and consulting
activities
c) Illustrate assurance activity to ERM
d) Illustrate consulting activity to ERM
(i.e., facilitation, coaching,
coordination, report consolidation,
development of framework,
advocate, strategy)
12 MIDTERM EXAM
13 to 17 Developing Risk Mitigation Plan CLO 7 • Lectures • Results of Case • Quiz
a) Explain the definition of risk CLO 8 • Assignments study and role play • Recitation
mitigation planning according to • Case study • Passing mark on • Case study
PMI Discussion quizzes and
a) Illustrate and explain steps on recitations
developing risk mitigation plan
b) Demonstrate samples of risk
mitigation plan and presentation
to clients
18 FINAL PRESENTATION EXAM
Presentation on results of risk
mitigation plan based actual risk
management case study analysis

INSTRUCTIONAL MATERIALS/ RESOURCES

1. Microsoft PowerPoint
2. CANVAS
3. Other Learning Management System (LMS) (e.g. Connect, Mindtap, etc.)

REQUIRED TEXTBOOK
1. Internal Control – Integrated Framework, by COSO
SUGGESTED READINGS AND REFERENCES
1. CRMA Exam Study Guide, by The IAA
2. 2020 CIA Review Course, by Gleim
3. Internal Control – Integrated Framework, by COSO
4. Position Paper “The Three Lines of Defense in Effective Risk Management and Control,” by The IIA

CLASSROOM POLICIES
It is the responsibility of the learner to come to each class prepared. He/she is also expected to take all examinations on the scheduled date.
He/she should read the assigned problems prior to class discussion. He/she is expected to attend each class and participate actively in the
discussions.
FEU ACADEMIC DISHONESTY
All Research, Accounting, Auditing, Law and Taxation students are expected to be academically honest. Cheating, lying, and other forms of immoral
and unethical behavior will not be tolerated. Any student found guilty of cheating in examinations or plagiarizing in submitted course requirements
will (at a minimum) receive a Failing Grade in the course/subject. Cheating and Plagiarism refer to the use of unauthorized books, notes, securing
help in a test, copying test, assignments, reports or term papers, collaborating without authority with another student during an examination or
in preparing academic work, signing another student’s name on an attendance sheet, representing the work of another person as one’s own; and
other activities manifesting the practice of scholastic dishonesty.

POLICY ON ABSENCES
The students are allowed only 20% of the total number of hours in a semester for absences. Hence, the allowed number of absences for a
student enrolled in a 3-unit subject or 6-unit subject is a maximum of six (6) absences during regular semester. Request for excused absences or
waiver of absences must be presented prior to occurrence of absence or immediately upon reporting back to class, whichever is applicable.
Special examinations will be given only in special cases, such as prolonged illness. It is the responsibility of the student to monitor his/her own
tardy incidents and absences that might accumulate leading to the grade of 5.00 or F. It is also his/her responsibility to consult with the
concerned faculty member, program head, Dean should his/her case be of special nature.
Note: Always refer to the Student Handbook for academic policies.

POLICY ON NON-SOLICITATION OF FUNDS

All official fees of the University are collected through the Cash Department. Students should not pay any additional fees such as those for
tickets, entrance fees, transportation fees, hand-outs, readings, quizzes or tests to any faculty or staff member of the University.

POLICY ON STUDENT DATA PRIVACY ACT

In compliance with the Act and for ensuring highest level of data security and confidentiality in the access of student’s personal
data/information, faculty members should not allow the student to check other students’ test papers, assignments, seat work, announce the
individual grades of the students before the class, disclose student information, student records and other “student-generated content” in any
media, and any other similar acts that will jeopardize the interest of an identified individual student.

COURSE REQUIREMENTS
Assignments, Quizzes, Major Exams

GRADING SYSTEM
Computation of Periodic Grades

I. Computation of 1st Preliminary Grade: Midterm Grade (MG)

Formative Assessment (FA)
Class Participation (Homework, Practice Tests, Recitation, Pre-test) 20%
Quizzes 30
Summative Assessment (SA) - Major Departmental Exam 50
1st PRELIMINARY GRADE 100%

II. Computation of 2nd Preliminary Grade

Formative Assessment (FA)
Class Participation (Homework, Practice Tests, Recitation, Pre-test ) 20%
Quizzes 30
Summative Assessment (SA) – Major Departmental Exam 50
2nd PRELIMINARY GRADE 100%

III. FINAL GRADE = 1st PG (50%) + 2nd PG (50%)

TRANSMUTATION OF FINAL GRADE (FG)
FINAL GRADE LETTER GRADE QUALITY POINT RANGE

92 – 100 A 4.0 3.80-4.0

85 – 91 B+ 3.5 3.30 – 3.79
78 – 84 B 3.0 2.80 – 3.29
71 – 77 C+ 2.5 2.30 – 2.79
64 – 70 C 2.0 1.80 – 2.29
57 – 63 D+ 1.5 1.30 – 1.79
 50 – 58 D 1.0 1.0 – 1.29
F .99 and lower

IV. RETENTION GRADE - (QUALITY POINT AVERAGE (QPA) CUMULATIVE PER YEAR LEVEL

YEAR LEVEL FAR EASTERN BACHELOR OF SCIENCE BACHELOR OF SCIENCE IN

UNIVERSITY IN ACCOUNTANCY INTERNAL AUDITING
(BSA) (BSIA)
First Year 1.2 1.2 1.2
Second Year 1.5 1.6 1.5

Third Year 1.8 2.0 1.8

Fourth Year 2.0 2.4 2.0

DATE OF EFFECTIVITY: April, 2020

Prepared By: Recommended by: Approved By:

JOHN KEBYN M. VILLARINO RAMIL N. BALDRES EARL JOSEPH BORGOÑA

Instructor – Internal Auditing Program Head – Accountancy & OIC-Dean - IABF
Internal Auditing