Professional Documents
Culture Documents
COURSE DESCRIPTION:
This course is part of the Auditing and Assurance module. It is simultaneously being taken up with ACYASR1. It is
designed to provide the students with the conceptual knowledge and understanding of the fundamentals of auditing,
assurance and other services and the public accounting practice. It covers some of the phases of the financial statement
audit process for manufacturing, trading, service, and specialized industries. It gears towards the preparation of audit plan
and independent auditor’s report.
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 Group presentation based on written case September 4 to
auditing, assurance, and related services analysis applying fundamental auditing, October 21, 2023
standards and principles. assurance, and related services standards and
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
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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
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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
GRADING SYSTEM:
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LEARNING PLAN:
DATE
WEEK TOPIC LEARNING ACTIVITIES MINUTES
IN-PERSON ONLINE
1 MODULE 1 September 5, SYNCHRONOUS Read Philippine 15 hours
AUDITING, 2023 September 8, Framework for
ASSURANCE, (Tuesday) 2023 Assurance
(Friday) Engagements
AND OTHER
(PFAE, as
SERVICES amended)
ASYNCHRONOUS PSA 120:
September 4 to 9, Framework of
2023 Philippine
Standards on
Auditing
PSA 200
(Revised and
Redrafted):
Overall
Objectives of
the Independent
Auditor and the
Conduct of an
Audit in
Accordance
with Philippine
Standards on
Auditing
COA Audit
Manual
Tubay (2017).
Compilation
certificate:
Concerns,
conflicts, and
recommendatio
ns. DLSU
Business Notes
and Briefings,
5(3)
PSRE 2400
(Revised)
Engagements to
Review
Historical
Financial
Statements
PSAE 3000
(Revised):
Assurance
Engagements
Other Than
Audits or
Reviews of
Historical
Financial
Information
PSAE 3400:
The
. Examination of
Prospective
Financial
Information
PSRS 4400:
Engagements to
Perform
Agreed-Upon
Procedures
Regarding
Financial
Information
PSRS 4410
(Revised):
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DATE
WEEK TOPIC LEARNING ACTIVITIES MINUTES
IN-PERSON ONLINE
Compilation
Engagements
PSA Glossary
of Terms
Visit
Websites of IIA
and
Commission on
Audit (COA)
Write
Collaborative
course notes
(Google docs)
Collaborative
Audit Programs
and Reports
(Google docs)
Instructor-led A. Assurance
individual engagements
activities B. Auditing
C. Other services
and reports
Student-led
group Oral recitations
activities
Discussion Participate:
What makes a
service an
assurance
engagement?
What is my take
on different
facets of
Auditing?
Reflect:
What is the
audit
engagement that
is for me?
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DATE
WEEK TOPIC LEARNING ACTIVITIES MINUTES
IN-PERSON ONLINE
PSQM 2:
Engagement
Quality Reviews
PSA 220
(Revised):
Quality
Management for
an Audit of
Financial
Statements
SEC Code of
Corporate
Governance
(revised)
SEC Memo
Circular 13
Series of 2009
(with updates)
ASEAN CPA
Sarbanes-Oxley
Act
PSA Glossary
of Terms
Write Collaborative
course notes
(Google docs)
Collaborative
Audit Programs
and Reports
(Google docs)
Instructor-led A. Management of
individual public accounting
activities practice
B. The FS audit
Student-led
group Oral recitations
activities
Discussion Participate
Why is quality
control
important in
public
accounting
practice?
What is my take
on the role of
regulatory
agencies in the
practice of
accountancy?
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DATE
WEEK TOPIC LEARNING ACTIVITIES MINUTES
IN-PERSON ONLINE
Reflect
How do I intend
to set-up my
own accounting
firm in the
future?
Instructor-led
A. Understanding
individual
client’s business and
activities
industry
B. Performing
preliminary
analytical
procedures
C. Materiality
D. Audit strategy
and audit program
E. Other planning
considerations
Student-led
Oral recitation
group
activities
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DATE
WEEK TOPIC LEARNING ACTIVITIES MINUTES
IN-PERSON ONLINE
Discussion Participate
What is the
importance of
planning in an
FS audit
engagement?
How different is
the application
of materiality in
auditing than
that in financial
accounting?
Discuss
Present a
sample audit
program
Collaborative
Write
course notes
(Google docs)
Collaborative
Audit Programs
and Reports
(Google docs)
A. Responses to
Instructor-led
assessed risks
individual
B. Tests of controls
activities
C. Deficiencies in
internal control
D. Documentation
requirements
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DATE
WEEK TOPIC LEARNING ACTIVITIES MINUTES
IN-PERSON ONLINE
Student-led
group Oral recitations
activities
Discussion Participate
When do
auditors perform
test of controls?
What are those
internal control
deficiencies that
the auditor
needs to
communicate to
those charged
with
governance?
Discuss
The instances
when the
auditor tests the
client’s internal
control
4 and 5 MODULE 5 October 3, 2023 SYNCHRONOUS Read PSA 230: Audit 20.5
AUDIT (Tuesday) September 29 and Documentation hours
October 6, 2023 PSA 530: Audit
SAMPLING
(Fridays) Sampling
PSA Glossary
of Terms
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DATE
WEEK TOPIC LEARNING ACTIVITIES MINUTES
IN-PERSON ONLINE
Discussion Participate
What is the
relationship
between audit
risk model and
sampling?
Why is it
necessary to
distinguish
between the use
of attribute and
variable
sampling?
Reflect
How do I apply
the principles
related to
sampling in
managing my
academic load
this during this
pandemic?
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DATE
WEEK TOPIC LEARNING ACTIVITIES MINUTES
IN-PERSON ONLINE
Auditor’s
Responsibilities
Relating to
Other
Information
PSA 600
(Revised and
Redrafted):
Special
Considerations
– Audits of
Group Financial
Statements
(Including the
Work of
Component
Auditors)
PSA 800
(Revised and
Redrafted):
Special
Considerations
– Audits of
Financial
Statements
Prepared in
Accordance
with Special-
purpose
Frameworks
PSA 805
(Revised and
Redrafted):
Special
Considerations
– Audits of
Single Financial
Statements and
Specific
Elements,
Accounts or
Items of a
Financial
Statement
PSA 810
(Revised):
Engagements to
Report on
Summary
Financial
Statements
PSA Glossary
of Terms
Collaborative
Write course notes
(Google docs)
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DATE
WEEK TOPIC LEARNING ACTIVITIES MINUTES
IN-PERSON ONLINE
A. Standard
Instructor-led unqualified report
individual B. Modifications to
activities the report
C. Special
considerations
Oral recitations
Student-led
group
activities
Participate
What are the
Discussion
salient
differences
among the four
audit opinions?
How do key
audit matters
matter?
Reflect
What is my take
on the changes
in the
independent
auditor’s report?
7 October 17, October 20, Summative Oral Examination:
2023 2023 Assessment
(Tuesday) (Friday) #3 Group (October 17) 3 hours
Individual 3 hours
(October 20)
October 21, Summative Multiple Choice – 2 hours
2023 Assessment 60 points
(Saturday) #4 Essay – 10 points
ASYNCHRONOUS 7 hours
June 19 to 24,
2023
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
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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/
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
Adapted from:
The Global Business Oath (http://theoathproject.org/?page_id=47 )
Vocation of the Business Leader (http://www.stthomas.edu/cathstudies/cst/VocationBusinessLead/)
*Adapted from:
Philippine Business Group's Covenant of Shared Prosperity (November 5, 2020)
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
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