Republic of the Philippines

POLYTECHNIC UNIVERSITY OF THE PHILIPPINES

OFFICE OF THE VICE PRESIDENT FOR BRANCHES AND CAMPUSES
STO. TOMAS BRANCH

PROGRAM: BACHELOR OF SCIENCE IN ACCOUNTANCY

1st SEMESTER, SCHOOL YEAR 2023-2024

Course Title : Auditing and Assurance Principles

Course Code : ACCO 30043
Course Credit : 3 UNITS
Course Description : This course is designed to provide students with the conceptual knowledge and understanding of the fundamental theory of auditing and assurance services, and
the philosophy underlying audits with emphasis on external auditing as performed by independent Certified Public Accountants (CPAs) and the management of public
accounting practice. The course covers generally accepted accounting standards, specifically Philippine Standards on Auditing (PSA), the Philippine Accountancy Act
of 2004, internal and external auditing, internal controls, manual records, audit objectives, audit techniques, audit programs and procedures, and audit reports and
ethical standards affecting the accountancy profession are also taken up.

VISION OF THE UNIVERSITY

PUP: The National Polytechnic University

MISSION OF THE UNIVERSITY

Ensuring inclusive and equitable quality education and promoting lifelong learning opportunities through a re-engineered polytechnic university by committing to:

1. provide democratized access to educational opportunities for the holistic development of individuals with global perspective
2. offer industry-oriented curricula that produce highly-skilled professionals with managerial and technical capabilities and a strong sense of public service for nation building
3. embed a culture of research and innovation
4. continuously develop faculty and employees with the highest level of professionalism
5. engage public and private institutions and other stakeholders for the attainment of social development goal
6. establish a strong presence and impact in the international academic community

GOALS OF THE BRANCH

The PUP Sto. Tomas Branch commits to accomplish the following goals:

1. Sustain a culture of quality among the branch stakeholders by providing opportunities for student, faculty and staff development at the local, regional, national and international levels.
2. Develop and nurture collaborative research culture.
3. Champion knowledge and technology transfer through responsive sustainable and development-oriented community extension programs.
4. Provide a learning-conducive campus environment where technology driven resources are available to students, faculty member are available to students, faculty members and staff in enlarging their
skills and competencies to meet the demands of the changing times.
5. Ensure continuous improvement in the various areas of its operations through productive partnership and engagements with public, private and civil society acquire time.

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 Republic of the Philippines
POLYTECHNIC UNIVERSITY OF THE PHILIPPINES
OFFICE OF THE VICE PRESIDENT FOR BRANCHES AND CAMPUSES
STO. TOMAS BRANCH

Institutional Learning Outcomes Program Outcomes Course Objectives

1. Creative and Critical Thinking Generally, the expected outcomes of the BSA Upon completion of this course, the learners
Graduates use their imaginative as well as a rational thinking ability to graduates is to: are expected to:
life situations in order push boundaries, realize possibilities, and deepen a. Produce competent and ethical professional
their interdisciplinary and general understanding of the world. accountants capable of making a positive 1.
2. Effective Communication contribution over their lifetimes to the
Graduates are proficient in the four macro skills in communication profession and society in which they work. 2.
(reading, writing, listening, and speaking) and are able to use these b. Provide a foundation of professional
skills in solving problems, making decisions, and articulating thoughts knowledge, professional skills, and
when engaging with people in various circumstances. professional values, ethics and attitudes that 3.
3. Strong Service Orientation enable them to continue to learn and adapt to
Graduates exemplify the potentialities of an efficient, well-rounded, and change throughout their professional lives.
responsible professional deeply committed to service excellence.
4. Community Engagement Specifically, a graduate of BS Accountancy should be 4.
Graduates take an active role in the promotion and fulfillment of various able to:
advocacies (educational, social and environmental) for the advancement a. Resolve business issues and problems, with
of community welfare. a global and strategic perspective using 5.
5. Adeptness in the Responsible Use of Technology knowledge and technical proficiency in the
Graduates demonstrate optimized use of digital learning abilities, areas of financial accounting and reporting, 6.
including cost account and management, accounting
technical and numerical skills. and control, taxation, and accounting 7.
6. Passion to Lifelong Learning information systems;
Graduates are enabled to perform and function in the society by taking b. Conduct accountancy research through
responsibility in their quest to know more about the world through independent studies of relevant literature and
lifelong learning. appropriate use of accounting theory and
7. High Level of Leadership and Organizational Skills methodologies;
Graduates are developed to become the best professionals in their c. Employ technology as a business tool in
respective capturing financial and non-financial
disciplines by manifesting the appropriate skills and leaderships information, generating reports and making
qualities. decisions;
8. Sense of Personal and Professional Ethics d. Apply knowledge and skills to successfully
Graduates show desirable attitudes and behavior either in their personal respond to various types of assessments;
and and
professional circumstances. e. Confidently maintain a commitment to good
9. Sense of National and Global Responsiveness corporate citizenship, social responsibility
Graduates’ deep sense of national compliments the need to live in a and ethical practice in performing functions
global village where one’s culture and other people culture are as an accountant.
respected.
Understand the nature of assurance and
non-assurance engagement;
Have differentiate the assurance
engagement and non-assurance
engagement;
Have sound knowledge of the generally
accepted auditing standards, Philippine
Standards on Auditing and related
practice statements;
Design and perform test of controls and
substantive audit procedures in major
transaction cycles;
Determine and interpret a sound and
effective internal control;
Understand and identify the correct
audit opinion; and
Realize the contributions of auditing to
the development of a more socially
responsible and morally upright
professional accountant through
understanding the concepts of the R.A.
9298: Philippine Accountancy Act of
2004 and Code of Ethics for
Professional Accountants.

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 Republic of the Philippines
POLYTECHNIC UNIVERSITY OF THE PHILIPPINES
OFFICE OF THE VICE PRESIDENT FOR BRANCHES AND CAMPUSES
STO. TOMAS BRANCH

COURSE PLAN

WEEK TOPIC LEARNING OUTCOMES METHODOLOGY RESOURCES ASSESSMENT

1 • Class Management The learner will: Lecture and Copy of the syllabus
• Introduction to the course • Have an appreciation of the discussion
• Discussion of the syllabus coverage of the course.
• Discussion of classroom policies • Establish order in the class.

1-2 Concepts of Assurance and Non-assurance After the session, the student is expected Lecture and Auditing and Assurance • Recitation
Engagement to understand the: discussion Principles (2022 edition)
• Fundamentals of assurance and by Escala, Bercasio and
non-assurance services. Carandang
• Definition, nature and elements
of the assurance and non- PSA 120, PSA 200
assurance engagements.
• Overview of pronouncements
and updates in auditing related
to assurance and non-assurance
engagements.

3–4 Internal Controls After the session, the student is expected Lecture and Auditing and Assurance • Recitation
to understand the: discussion Principles (2022 edition) • Quiz
• Risk assessment procedures by Escala, Bercasio and
and sources of information about Carandang
the entity and its environment
• Understanding the entity and its PSA 265, PSA 315,
environment, including its PSA 330 and PSA 400
internal control
• Industry, regulatory and other
external factors including the
applicable financial reporting
framework
• Assessing the risk of material
misstatement
• Communicating with those
charged with governance and
management
• Documentation
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 Republic of the Philippines
POLYTECHNIC UNIVERSITY OF THE PHILIPPINES
OFFICE OF THE VICE PRESIDENT FOR BRANCHES AND CAMPUSES
STO. TOMAS BRANCH

WEEK TOPIC LEARNING OUTCOMES METHODOLOGY RESOURCES ASSESSMENT

5–7 Generally accepted auditing standards After the session, the student is expected Lecture and Auditing and Assurance • Recitation
(GAAS) and related PSA: General Standards to understand the: discussion Principles (2022 edition) • Quiz
• Adequate technical training and by Escala, Bercasio and
proficiency to perform the audit. Carandang
• Independence in mental attitude
in all matters relating to the audit PSA 210, 220, 230,
• Due professional care in the 240, 250, 260, 300, 320,
performance of the audit and the 330 and PSA 402
preparation of the report.
8-9 Generally accepted auditing standards After the session, the student is expected Lecture and Auditing and Assurance • Recitation
(GAAS) and related PSA: Audit evidence and to understand the: discussion Principles (2022 edition) • Quiz
analytical procedures • Adequate audit planning by Escala, Bercasio and
• Sufficient appropriate audit Carandang
evidence by performing audit
procedures. PSA 500, 501, 505, 510
and 520
10 MIDTERM EXAMINATION
11-13 Generally accepted auditing standards After the session, the student is expected Lecture and Auditing and Assurance • Recitation
(GAAS) and related PSA: Audit sampling, to understand the: discussion Principles (2022 edition) • Quiz
Related parties, Subsequent events, • Nature of auditing by sample, by Escala, Bercasio and
Estimates, and Going concern. statistical vs. non-statistical Carandang
sampling, sampling vs. non-
sampling risk PSA 530, 540, 550, 560
• Procedures in evaluating and 570
accounting estimates and fair
value measurements
• Related transactions and events

14-16 Generally accepted auditing standards After the session, the student is expected Lecture and Auditing and Assurance • Recitation
(GAAS) and related PSA: Standards of to understand the: discussion Principles (2022 edition) • Quiz
reporting and Audit Completion • Type of reports on audited by Escala, Bercasio and
financial statements Carandang
• Communication of audit matters
with those charged with PSA 700, 705, 706,
governance. 710, 720, 800, 805 and
810

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 Republic of the Philippines
POLYTECHNIC UNIVERSITY OF THE PHILIPPINES
OFFICE OF THE VICE PRESIDENT FOR BRANCHES AND CAMPUSES
STO. TOMAS BRANCH

WEEK TOPIC LEARNING OUTCOMES METHODOLOGY RESOURCES ASSESSMENT

17 The Accountancy Profession and the Code of After the session, the student is expected Lecture and R.A. 9298: The • Recitation
Ethics for Professional Accountants to understand the: discussion Philippine Accountancy • Quiz
• Nature, branches and Act of 2014 and Code of •
significance of auditing and Ethics for Professional
accountancy profession Accountants
• Role of PRBOA, PFRSC in the
standard-setting process
• Nature and usefulness of the
Code of Ethics for Professional
Accountants

18 FINAL EXAMINATION

SUGGESTED READINGS AND REFERENCES:

• Escala, R.F., Bercasio, R.R, Carandang, J. Auditing and Assurance Principles. 2022 edition.
• Philippine Standards on Auditing (PSA)
• Philippine Auditing Practice Statements (PAPS)

COURSE GRADING SYSTEM:

Class Standing 70%

Quizzes 40%
Assignments and Applications 20%
Class Participation 10%
Midterm/Final Examination 30%
TOTAL 100%

Final Grade = (Midterm Grading Period + Final Grading Period) / 2

CONSULTATION TIME: Subject to the availability of the subject teacher, student may approach the subject teacher for queries about his/her grade as well as other academic requirements
for the subject.

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Republic of the Philippines
POLYTECHNIC UNIVERSITY OF THE PHILIPPINES
OFFICE OF THE VICE PRESIDENT FOR BRANCHES AND CAMPUSES
STO. TOMAS BRANCH

Prepared by: Reviewed and Validated by:

ROMELYN C. ENDOZO, CPA, MBA ENGR. LIZA MARIE B. NUEVO

PUP Sto. Tomas Faculty Head, Academic Programs

Recommending Approval:

DR. ARMANDO A. TORRES

Director

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