COLLEGE : RVRCOB DEPARTMENT : Accountancy

COURSE CODE : ACYASR1 COURSE TYPE : HYBRID

CLASS DAYS AND TIME : September 4 to October 21, 2023
K31 (MH, 0730-1045 @ VL201A)
K32 (MH, 1245-1600 @ VL201C)
INSTRUCTOR NAME : K31 & K32 (Mr. Kenneth Michael A. De Castro)
CONTACT INFORMATION : kenneth.decastro@dlsu.edu.ph
CONSULTATION SCHEDULE : to be announced in AnimoSpace

COURSE DESCRIPTION:

This course is part of the Auditing and Assurance module. It is simultaneously being taken up with ACYASR4. It is
designed to provide the students with the conceptual knowledge and understanding of the professional practice of
Accountancy. It covers the Philippine Accountancy Law, the Code of Ethics for Professional Accountants, and some of
the phases of the financial statement audit process for manufacturing, trading, service, and specialized industries. It gears
towards the preparation of audit working papers related to substantive tests.

LEARNING OUTCOME (LO):

UNIVERSITY EXPECTED
LASALLIAN GRADUATE
ATTRIBUTERS (ELGA)
Critical and Creative Thinker
Effective Communicator
Reflective lifelong learner
LEARNING OUTCOMES (LO)
On the completion of the course, the student is expected to be able to:
LO1: Prepare independent auditor’s report on the client’s financial statements
based on relevant auditing standards and principles.
LO2: Prepare other reports based on relevant review, assurance, and related
services standards and principles.
LO3: Present case analysis applying fundamental auditing, assurance, and related
services standards and principles.
LO4: Write reflection paper identifying interesting and relevant auditing and
assurance issue and providing valid, sensible, and logical introspection by
applying fundamental auditing, assurance, and related services standards and
principles.

COURSE OUTCOMES ASSESSMENT MATRIX:

Course Program Outcomes
Learning
GO1 GO2 GO3 GO4 GO5 GO6 GO7 GO8 GO9 GO10 GO11 GO12 GO13
Outcome
LO1 P P O P O O O P P O O P P
LO2 P P O P O O O P P O O P P
LO3 P P O P O O O P P O O P P
LO4 P P O P O O O P P O O P P
O = Not learned in course but opportunity to be learned in the future
L = Learned in the course
P = Practiced in course

To know more about the GOs, please refer on the link below:
https://drive.google.com/file/d/1tgG89zx0wRVsQMEs0YPLhD1xT2wJYCWM/view?usp=sharing

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FINAL COURSE OUTPUT:
As evidence of attaining the above learning outcomes, the student is required to do and submit the following during the
indicated dates of the term:
LEARNING OUTCOMES (LO): REQUIRED OUTPUTS DUE DATE
LO1: Prepare independent auditor’s report on the Collaborative and Individual Audit September 4 to
client’s financial statements based on Programs and Audit Reports using Google October 21, 2023
relevant auditing standards and principles docs
LO2: Prepare other reports based on relevant Collaborative and Individual Engagement September 4 to
review, assurance, and related services Programs and Reports using Google docs October 21, 2023
standards and principles.
LO3: Present case analysis applying fundamental Short cases applying fundamental auditing, September 4 to
auditing, assurance, and related services assurance, and related services standards and October 21, 2023
standards and principles. principles
LO4: Write reflection paper identifying One research article on issues affecting audit October 28, 2023
interesting and relevant auditing and practices of today
assurance issue and providing valid,
sensible, and logical introspection by
applying fundamental auditing, assurance,
and related services standards and
principles

ANIMOSPACE (Canvas):
It is the learning management system (LMS) to be used in the conduct of the online classes. To Learn more about it,
please click the following links:
 Passport to Canvas (public Canvas course) https://www.canvas.net/browse/cn-pd/courses/passport-to-canvas (Links
to an external site.)
 Animo Space 101: https://dlsu.instructure.com/courses/13772

RUBRIC FOR ASSESSMENT:

The rubrics that follow are intended for students to self-assess their outputs and deliverables before submission. The
same will be used by the instructor to mark these submissions.

Collaborative Course Notes

CRITERIA EXCELLENT SATISFACTORY DEVELOPING BEGINNING RATING
(97-100) (80-96) (75-79) (70-74)
Completeness The group The group The group The group
(80%) accomplished all accomplished accomplished some accomplished a
the requirements. majority of the of the requirements. very minimal
requirements. portion of the
requirements.
Timeliness The group The group complied The group complied The group
(20%) complied with the with the with the complied the
requirement within requirement two (2) requirement five (5) requirement
the deadline. days after the days after the beyond five (5)
deadline. deadline. days after the
deadline.
RATING

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Individual Audit Research Article
CRITERIA EXCELLENT SATISFACTORY DEVELOPING BEGINNING RATING
(97-100) (80-96) (75-79) (70-74)
Quality of issues The student The student The student The student
identified identifies identifies somewhat identifies less identifies not
(40%) interesting and interesting and interesting but interesting and
relevant auditing relevant auditing somewhat relevant not relevant
and assurance and assurance auditing and auditing and
issues. issues. assurance issues. assurance issues.
Depth and The student The student The student The student
quality (60%) provides valid, provides somewhat provides somewhat provides non-
sensible and logical valid, sensible and valid, sensible and sensible reflection
reflection of issues logical reflection of logical reflection of of issues
identified, and issues identified, issues identified but identified.
provides valid, and provides some these are not
sensible, and valid, sensible and properly supported
logical arguments logical arguments or by valid, sensible
or supports. supports. and logical
arguments or
supports.
RATING

Oral Comprehensive Exam (Group)

CRITERIA EXCELLENT SATISFACTORY DEVELOPING BEGINNING RATING
(97-100) (80-96) (75-79) (70-74)
Analysis, The group presents The group presents The group presents The group
conclusion, and correct analysis, correct analysis, partly or entirely presents incorrect
recommendations conclusion, and conclusion, and correct analysis, analysis,
(50%) recommendations recommendations to conclusion, and conclusion, and
to the problems or the problems or recommendations recommendations
cases by showing cases by showing to the problems or to the problems or
all relevant certain supporting cases by showing cases but corrects
supporting calculations or supporting the solutions to
calculations or proofs, and calculations or these problems or
proofs, and relating somewhat relating proofs. cases.
these solutions to these to the business
the business world. world.
Presentation and The group The group The group The group
teamwork communicates and communicates and communicates and communicates and
(20%) explains clearly the explains clearly the explains somewhat explains vaguely
analysis, analysis, conclusion, clearly the analysis, the analysis,
conclusion, and and conclusion, and conclusion, and
recommendations recommendations to recommendations recommendations
to the problems or the problems or to the problems or to the problems or
cases, and cases, and generates cases, and generates cases, and does
generates interest some interest among little interest among not generate
and establishes the audience. the audience. interest among the
rapport among the audience.
audience.
Question and The group The group provides The group provides The group
answer provides correct or correct or valid partly or entirely provides incorrect
(30%) valid answers to answers, explains correct or or non-sensible
the questions, these somewhat valid/sensible answers to the
explains these clearly, and presents answers, explains questions raised
clearly, and some valid/sensible these somewhat but somehow
presents arguments to clearly. provides partly or
valid/sensible support/justify the entirely correct or
arguments to answers to the valid/sensible
support/justify the questions raised. answers through
answers to the follow-up
questions raised. questions.
RATING

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Oral Comprehensive Exam (Individual)
CRITERIA EXCELLENT SATISFACTORY DEVELOPING BEGINNING RATING
(97-100) (80-96) (75-79) (70-74)
Logic The student The student The student The student
(40%) presents logical presents logical presents partly or presents illogical
response to the response to the entirely logical response to the
problems or cases problems or cases response to the problems or cases
by showing all by showing certain problems or cases but corrects the
relevant supporting supporting by showing solutions to these
calculations or calculations or supporting problems or cases.
proofs, and relating proofs, and calculations or
these solutions to somewhat relating proofs.
the business world. these to the
business world.
Reason The student The student The student The student
(40%) communicates and communicates and communicates and communicates and
explains clearly the explains clearly the explains somewhat explains vaguely
reason behind the reason behind the clearly the reason the reason behind
response to the response to the behind the response the response to the
problems or cases, problems or cases, to the problems or problems or cases,
and generates and generates some cases, and and does not
interest and interest among the generates little generate interest
establishes rapport audience. interest among the among the
among the audience. audience.
audience.
Question and The student The student The student The student
answer and provides correct or provides correct or provides partly or provides incorrect
confidence valid answers to valid answers, entirely correct or or non-sensible
(20%) the questions, explains these valid/sensible answers to the
explains these somewhat clearly, answers, explains questions raised but
clearly, and and presents some these somewhat somehow provides
presents valid/sensible clearly. Confidence partly or entirely
valid/sensible arguments to is somehow correct or
arguments to support/justify the manifested. valid/sensible
support/justify the answers to the answers through
answers to the questions raised. follow-up
questions raised. Confidence is questions.
Confidence is generally Confidence is not
manifested. manifested. manifested.
RATING

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Peer Evaluation
CRITERIA EXCELLENT SATISFACTORY DEVELOPING BEGINNING RATING
(97-100) (80-96) (75-79) (70-74)
Quality of inputs The student is The student is able The student is able The student is not
provided able to provide to somewhat to somewhat able to provide
(60%) inputs that are provide inputs that provide inputs that inputs that are
conceptual and are conceptual and are conceptual and conceptual and
practical as a practical as a practical as a practical as a
response to the response to the response to the response to the
problems or cases problems or cases problems or cases problems or cases.
by showing all by showing all but are not
relevant relevant supporting necessarily
supporting calculations or supported by
calculations or proofs, and relating calculations or
proofs, and these solutions to proofs.
relating these the business world.
solutions to the
business world.
Teamwork and The student is The student is able The student is not The student is not
collaborative able to attend all to attend most able to attend most able to attend even
skills, including group meetings group meetings and group meetings but one group meeting.
attendance and and demonstrated somehow somehow
attitude being a team demonstrated being demonstrated being
(40%) player with a team player with a team player with
respect to attitude. respect to attitude. respect to attitude.
RATING

OTHER REQUIREMENTS AND ASSESSMENTS:

Aside from the final outputs, the student will be assessed at other times during the term by the following:
 Quizzes and Comprehensive examination
 Class standing (attendance, active participation in the discussion forum, good manners and right conduct)

GRADING SYSTEM:

GRADE POINT DESCRIPTION PERCENTAGE

4.0 Excellent 97-100
3.5 Superior 93-96
3.0 Very Good 89-92
2.5 Good 85-88
2.0 Satisfactory 80-84
1.5 Fair 75-79
1.0 Pass 70-74
0.0 Fail Below 70

The percentage equivalent shall be arrived at as follows:

BASIS FINAL
GRADE
Formative Assessments:
Collaborative Course Notes (Google Docs) (5%) 15%
Individual Audit Research Article (5%)
Class Standing (5%)
Summative Assessments:
Written Comprehensive Examinations (52.5%) 70%
Group Oral Comprehensive Exam (8.75%)
Individual Comprehensive Exam (8.75%)
Peer Evaluation 15%
Total 100%

Course grade requirement is at least 80%.

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LEARNING PLAN:
DATE
WEEK TOPIC LEARNING ACTIVITIES MINUTES
IN-PERSON ONLINE
1 and 2 MODULE 1 September 4 & SYNCHRONOUS Read  The Philippine 30 hours
THE 11, 2023 September 7 & Accountancy Act
PROFESSIONAL 14, 2023 of 2004, including
(Mondays) its Implementing
PRACTICE OF (Thursdays)
Rules and
ACCOUNTANCY Regulations (IRR)
 IFAC SMOs 1 to 7
ASYNCHRONOUS  RA 10912:
September 4 to Continuing
16, 2023 Professional
Development Act
of 2016
 PRC Resolution
1146 Series of
2019
 The Code of
Ethics for
Professional
Accountants in
the Philippines
 BOA Resolution
126 Series of
2008
 PSA Glossary of
Terms

Visit  Websites of
professional
organizations
(IFAC, PICPA,
ACPAPP,
ACPACI,
GACPA,
nACPAE)
 Website of
Professional
Regulation
Commission
(PRC)

Write  Collaborative
course notes
(Google docs)

Instructor-led A. The Philippine

individual Accountancy Act of
activities 2004
B. Professional
. organizations
C. Continuing
Professional
Development
D. Code of Ethics for
Professional
Accountants in the
Philippines

Student-led
group activities Oral recitation

Discussion
Syllabus Overview
Share:
 Me, My Team,
and My
Expectations

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 DATE
WEEK TOPIC LEARNING ACTIVITIES MINUTES
IN-PERSON ONLINE
Participate:
 Am I ready to be
a CPA?
 What is my take
on the
professional
practice of
Accountancy?

Reflect:
 What is the
practice sector
that is for me?
3 MODULE 2 Read  PSA 210 (Revised 6.5 hours
PRE- September 18, ASYNCHRONOUS and Redrafted):
ENGAGEMENT 2023 September 18 to Agreeing the
(Monday) 23, 2023 Terms of
ACTIVITIES
Engagement
 PSA Glossary of
Terms

Watch  Video 4: ISA 210

Write  Collaborative
course notes
(Google docs)

Instructor-led A. Client acceptance

individual and initial audit
activities planning
B. Engagement letter
C. Modifications in
terms of engagement

Student-led Oral recitation

group activities

Discussion Participate
 Why is an
engagement letter
important?
 Should successor
auditor make
specific inquiries
to the predecessor
auditor?
 What are the
circumstances that
may necessitate a
modification in an
engagement
letter?

3 and 4 MODULE 3 September 25, SYNCHRONOUS Read  PSA 230: Audit 14 hours
RISK 2023 September 21, 2023 Documentation
ASSESSMENT (Monday) (Thursday)  PSA 315 (Revised
2019): Identifying
PROCEDURES
and Assessing the
Risks of Material
ASYNCHRONOUS Misstatement
September 18 to Through
Understanding the
30, 2023 Entity and its
Environment
 PSA 240: The
Auditor’s
Responsibilities
Relating to Fraud
in an Audit of
Financial
Statements

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 DATE
WEEK TOPIC LEARNING ACTIVITIES MINUTES
IN-PERSON ONLINE
 PSA 250
(Revised):
Consideration of
Laws and
Regulations in an
Audit of Financial
Statements
 PSA 520:
Analytical
Procedures
 PSA Glossary of
Terms
Watch
 Video 8: (deleted)
 Video 9: (deleted)
 Video 10: ISA
240 (part 1)
 Video 11: ISA
240 (part 2)
 Video 12: ISA
250
Write
 Collaborative
course notes
(Google docs)

Instructor-led
A. Audit risk model
individual
B. Assessing
activities
acceptable audit risk
C. Risk assessment
procedures
D. Assessing inherent
risk
E. Assessing control
risk
F. Relationship of risk
to evidence

Student-led
Oral recitation
group activities

Discussion
Participate
 Why do auditors
need to assess the
risk material
misstatement?
 What are the
components of
COSO’s internal
control
framework?

Discuss
 Differences
among error,
fraud, and non-
compliance
3 September 23, SUMMATIVE Multiple Choice – 60 2 hours
2023 ASSESSMENT points
(Saturday) #1 Essay – 10 points
(Units 1 and 2)

4 to 5 MODULE 4 October 2, 2023 SYNCHRONOUS Read  PSA 230: Audit 14 hours

FURTHER AUDIT (Monday) September 28, Documentation
 PSA 330
PROCEDURES 2023
(Redrafted): The
(SUBSTANTIVE (Thursday) Auditor’s
TESTS) Responses to
Assessed Risks
ASYNCHRONOUS  PSA 450:
September 25 to Evaluation of
October 7, 2023 Misstatements
Identified During
the Audit
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 DATE
WEEK TOPIC LEARNING ACTIVITIES MINUTES
IN-PERSON ONLINE
 PSA 500
(Redrafted): Audit
Evidence
 PSA 501: Audit
Evidence –
Specific
Considerations for
Selected Items
 PSA 510: Initial
Audit
Engagements –
Opening Balances
 PSA 505 (Revised
and Redrafted):
External
Confirmations
 PSA 520
(Redrafted):
Analytical
Procedures
 PSA 540
(Revised):
Auditing
Accounting
Estimates and
Related
Disclosures
 PSA Glossary of
Terms

Watch  Video 15: ISA

500
 Video 16: ISA
505
 Video 17: ISA
520
 Video 18: ISA
540

Write  Collaborative
course notes
(Google docs)

Instructor-led A. Detection risk and

individual substantive tests
activities B. FS assertions
C. Audit evidence
D. Nature, timing, and
extent
E. Substantive
analytical procedures
F. Tests of details
G. Audit
documentation

Student-led Oral recitation

group activities

Discussion Participate
 What is the
relationship
between detection
risk and audit
evidence?
 Why do auditors
need to
distinguish FS
assertions based
on transactions,
balances, and
presentation and
disclosures?

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 DATE
WEEK TOPIC LEARNING ACTIVITIES MINUTES
IN-PERSON ONLINE
Reflect
 How do I apply
the principle of
persuasiveness of
evidence in my
life as a BSA
student?

5 to 6 5. COMPLETING October 9, 2023 SYNCHRONOUS Read  PSA 230: Audit 21.5 hours
THE AUDIT (Monday) October 5, 2023 Documentation
(Thursday)  PSA 560:
Subsequent
Events
 PSA 570: Going
ASYNCHRONOUS
Concern
October 2 to 14,  PSA 520:
2023 Analytical
Procedures
 PSA 550: Related
Parties
 PSA 580: Written
Representations
 PSA Glossary of
Terms

Watch  Video 20: ISA

560
 Video 21: ISA
570
 Video 22: ISA
550
 Video 23: ISA
580

Write  Collaborative
course notes
(Google docs)

Instructor-led A. Review for

individual contingent liabilities
activities and commitments
B. Review for
subsequent events
C. Review client’s
assessment of the use
of the going concern
assumption
D. Review of related
party transactions
E. Communication
with the audit
committee and
management
F. Other completion
procedures

Student-led Oral recitation

group activities

Discussion Participate
 Why are audit
completion
procedures
necessary in an
FS audit
engagement?
 How different are
the analytical
procedures in the
audit completion
phase from those
in the risk
assessment phase?
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 DATE
WEEK TOPIC LEARNING ACTIVITIES MINUTES
IN-PERSON ONLINE
Reflect
 How will the
review of client’s
assessment of the
use of the going
concern
assumption be
affected by the
pandemic?

5 October 7, 2023 Summative Multiple Choice – 60 2 hours

(Saturday) Assessment #2 points
(Units 3 and 4) Essay – 10 points

7 October 16 SYNCHRONOUS Summative Oral Examination:

2023 October 19, 2023 Assessment #3
(Monday) (Thursday) Group (October 16 - 3 hours
Monday)

Individual (October 3 hours

19 - Thursday)
October 21, 2023 Summative Multiple Choice – 60 2 hours
(Saturday) Assessment #4 points
Essay – 10 points

ASYNCHRONOUS 7 hours
October 16 to 21,
2023

TOTAL NUMBER OF HOURS 105 hours

The fourth-hour activities related to the course include:

o Video viewing
o Research/Group reflection paper preparation
o Independent online learning/self-study sessions
o Problem solving and accounting exercises sessions
o Student-organized co-curricular activities

REFERENCES:
1. Arens, Alvin A., Elder, Randal J., Beasley, M S., & Hogan, Chris E. Auditing & assurance services. 16th
Edition (Global Edition), Pearson Education Limited.
2. Louwers, Timothy J., Ramsay, Robert J., Sinason, David H., Strawser, Jerry R., & Thibodeau, Jay C. Auditing
& assurance services. 4th Edition, McGraw-Hill/Irwin.
3. Whittington, O.R. et. al. (latest edition). Principles of Auditing & Other Assurance Services.
4. Eilifsen, A. et. al (latest edition). Auditing & Assurance Services.
5. Rittenberg, L. et. al. (latest edition). Auditing, Concepts for a Changing Environment
6. Ricchiute, D.N. (latest edition). Auditing and Assurance Services.
7. Cabrera, M.E.B (latest edition). Principles of Auditing and Other Assurance Services.
8. Philippine Standards on Quality Control (PSQC), Philippine Standards on Auditing (PSAs), Philippine Auditing
Practice Statements (PAPSs), Philippine Standards on Review Engagements (PSREs), Philippine Standards on
Assurance Engagements (PSAEs), and Philippine Standards on Related Services (PSRSs) issued by AASC
9. International Standards on Quality Control (ISQC), International Standards on Auditing (ISAs), International
Auditing Practice Statements (IAPSs), International Standards on Review Engagements (ISREs), International
Standards on Assurance Engagements (ISAEs), and International Standards on Related Services (ISRSs) issued
by IAASB

ONLINE RESOURCES:
1. http://www.sec.gov.ph/
2. http://www.coa.gov.ph/
3. http://www.aasc.org.ph/
4. https://www.ifac.org/
5. https://www.picpa.com.ph/

COURSE SPECIFIC POLICIES:

 A total of 105 hours for a 3-unit course is the recommended work load of students.
 It is the responsibility of the student to be mindful of his/her absences/tardiness and performance in an online
class.
 This course is offered from Weeks 1 to 7 of the term, two days a week (MH or TF), 3 hours per day.
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 Four (4) departmental summative assessments are required in this course.
 Instructions on how to submit assignment/activities and what kinds of documents will be accepted are included
when assignments/activities are set-up in AnimoSpace.
 Specific class policies on attendance, make-up quizzes, academic honesty, grading system, dress code, the use
of other electronic gadgets and eating during online synchronous learning activities, the minimum number of
postings per week in discussions thread and any standards for quality of participation, and others not mentioned
above, are to be discussed by the faculty member on the first day of online classes.

DEPARTMENT POLICIES:
 If there are conflicts in the final examination schedule, follow the University policies on order of priority.
 Please observe the virtual consultation hours/schedule of the faculty member.
 For all other inquiries, please email the Course Coordinator at florenz.tugas@dlsu.edu.ph

NETIQUETTE
When posting on the discussion boards and chat rooms, it is important to understand how to interact with one another
online through netiquette. Your AnimoSpace Manual, which can be found in your AnimoSpace account, included
the netiquettes reiterated below:
 Treating other users with respect. Remember that you are talking with human beings behind the screen.
 Always using your professors’ proper title. Unless specifically invited, do not refer to them by first name.
 Reading all messages in a discussion thread before replying so as not to repeat someone else’s post without adding
something of your own to it
 Using clear and concise language with correct spelling and grammar
 Keeping discussion posts brief but thorough, on topic and within the scope of the course material
 Reviewing your posts before sending to ensure you are avoiding slang terms, texting abbreviations and caps lock
 Being open minded of other’s opinions even when they differ from your own
 Muting your microphone in a conference if it is not your time to talk in order to minimize background sound
 Sending private messages to individuals instead of flooding the public chat

TECHNOLOGY SUPPORT
If you need technical assistance at any time or to report a problem you can contact the Information Technology Service
Office at https://www.dlsu.edu.ph/offices/its/, ITS Help Desk @ the Manila Campus Room 305, Gokongwei Hall,
De La Salle University, 2401 Taft Avenue, 1004 Manila, Philippines. E-mail at itservices@dlsu.edu.ph

RVRCOB CODE OF ETHICS

As a business leader I recognize my role in society.
 My purpose is to lead people and manage resources to promote human development and the common good and
to create value that no single individual can create alone.
 My decisions affect the well-being of individuals inside and outside my enterprise, today and tomorrow.

Therefore, I promise that:

 I will manage with loyalty and care, and will not advance my personal interests at the expense of my enterprise
or society.
 I will promote socially useful products and services which serve human development, keeping in mind
reasonable access for the poor and underprivileged.
 I will understand and uphold, in letter and spirit, the laws and contracts governing my conduct and that of my
enterprise.
 I will refrain from corruption, unfair competition, or business practices harmful to society.
 I will respect the human rights and dignity of all people affected by my enterprise, and I will oppose
discrimination and exploitation.
 I will promote a humane and enabling work community within my organization.
 I will promote the just allocation of resources for all stakeholders of the company.
 I will respect the right of future generations to advance their standard of living and enjoy a healthy planet.
 I will report the performance and risks of my enterprise accurately and honestly.
 I will invest in developing myself and others, helping the management profession continue to advance and
create sustainable and inclusive prosperity.
 In exercising my professional duties according to these principles, I recognize that my behavior must set an
example of integrity, eliciting trust and esteem from those I serve. I will remain accountable to my peers and to
society for my actions and for upholding these standards.

Adapted from:
The Global Business Oath (http://theoathproject.org/?page_id=47 )
Vocation of the Business Leader (http://www.stthomas.edu/cathstudies/cst/VocationBusinessLead/)

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 COVENANT FOR SHARED PROSPERITY
We therefore pledge and commit to:
 Recruit, train and develop our employees and managers to be the best that they can be irrespective of gender,
alma mater, age, ethnicity and religion; provide just compensation and benefits; promote meritocracy and
encourage work-life harmony;
 Provide only quality products and services that are of continuing value to our customers;
 Treat our goods, service and funds providers fairly, ethically and with respect as we expect them to treat their
own workers in their supply chain the same way;
 Be actively involved in the communities where we operate in with particular attention to the needs of the
disadvantaged in those communities;
 Protect and preserve the environment for the benefit of current and future generations by employing
environment friendly technologies in all aspects of business operations; and
 Deliver reasonable and just returns to and fair treatment of our controlling and non-controlling shareholders.

*Adapted from:
Philippine Business Group's Covenant of Shared Prosperity (November 5, 2020)

Prepared by: Approved by:

Mr. Kenneth Michael A. De Castro Dr. Jerwin B. Tubay Dr. Emilina R. Sarreal
Faculty, Department of Accountancy OIC-Chair, Department of Accountancy Dean, RVR College of Business

Auditing and Assurance Committee

September 2023

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