Imploring the aid of Divine Providence, the University of the East dedicates itself to the service of youth, country and God,
and declares adherence to academic freedom, progressive instruction, creative scholarship, goodwill among nations and
constructive educational leadership.
Inspired and sustained by a deep sense of dedication and a compelling yearning for relevance, the University of the East
hereby declares as its goal and addresses itself to the development of a just, progressive and humane society.
As a private non-sectarian institution of higher learning, the University of the East commits itself to producing, through
relevant and affordable quality education, morally upright and competent leaders in various professions, imbued with a strong
sense of service to their fellowmen and their country.
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COLLEGE OF BUSINESS ADMINISTRATION
COLLEGE GOALS:
The College of Business Administration is committed to provide equal opportunities in quality business education,
consistent with the UE Mission and our national aspiration, and geared towards global interdependence.
PROGRAM OUTCOMES:
1. Demonstrate the necessary knowledge, understanding, attitude and skills required to successfully pass the CPA
Licensure Examination.
2. Deliver impressive and convincing presentation through effective communication skills in listening, writing and
speaking.
3. Behave in accordance with the highest standards of professionalism, integrity, transparency and accountability.
4. Perform research using the body of knowledge in the Accounting discipline.
5. Collaborate in a team environment by applying the interpersonal skills required of an accountant working in groups or
as a team player.
6. Ability to demonstrate the process of identifying, gathering, measuring, summarizing and analyzing financial data in
business organizations, including the use of computer based information.
COURSE SYLLABUS IN
ASSURANCE PRINCIPLES, GOOD GOVERNANCE AND PROFESSIONAL ETHICS
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School Year 2018 to 2019
Course Description:
This course is designed to expose students both to the demand for and the supply of the profession’s flagship service- financial
statement audits- and to the nature of the value-added assurance services which decision makers demand in the information age. Topics
include: nature of the accounting profession, auditing and assurance fundamentals: relationship among assurance, attestation, and audit
services , consulting versus assurance services; types of attestation services (agreed-upon procedures engagement and review
engagement); types of audit (internal, external or financial audits, government audits or special purpose audits); relationship of accounting
and auditing; other services(operational audits, compliance and other non-attest services); professional standards: assurance standards
and attestation and auditing standards; public sector regulation of accounting practice and legal liability; the framework of financial
statements auditing; risk-based approach as auditing methodology; audit evaluation and planning, including the concept risk and
materiality; assessing internal controls, and tests of controls including internal controls in computer- based business systems; performance
of an audit: evidence collection, analysis and substantive tests; reporting; reports on assurance services, attestation services and financial
statements audits; and completing the audit including communication with board of directors and management concerning internal control
weaknesses. Also discussed in detail are the basic professional values and the Code of Ethics for Professional Accountants and SEC’s
Code of Corporate Governance.
Course Outcomes
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attestation, and audit services, consulting vs. assurance services.
2. Identify the types of attestation services; types of audit; relationship of accounting and auditing; and other services
3. Explain the professional standards: assurance standards and attestation and auditing standards; public sector regulation of
accounting practice and legal liability; the framework of financial statements auditing; risk-based approach as auditing methodology;
audit evaluation and planning, including the concept risk and materiality; assessing internal controls, and tests of controls including
internal controls in computer- based business systems;
4. Explain fairly the conduct of financial audits, specifically evidence gathering and report preparation
5. Examine internal control in determining audit scope
6. Demonstrate knowledge in tests of controls and sampling in preparation for their use in auditing practice
7. Discuss the basic professional values and the Ethics for Professional Accountants and SEC’s Code of Corporate Governance.
COURSE CONTENT
Teaching Learning
Week Hours Learning Outcomes Topics Assessment Tasks
Activities
1st 6 At the end of the lesson, the learner Course Orientation Discussion Quiz/Test
1. Orientation on the University mission Discussion Multiple choice
will be able to:
and vision, College goals and End of class quiz questions
Define the university and college
objectives, program goal, objectives Assignment
mission and vision statements,
and outcomes Class
college program objectives and
Overview of the course participation(recit
outcomes
Learning expectations ation)
Differentiate assurance and non-
Orientation on the requirements of the
assurance engagements in course
auditing and assurance services
Identify example of assurance 2. Fundamentals of Auditing and
and non-assurance engagement Assurance
Explain the nature, purpose and Assurance Engagements
scope of an audit Non- Assurance
Discuss the different types of Engagement
audit and auditors as well as the Attestation service
general types of audit (external,
Auditing
internal, government and special
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COURSE CONTENT
Teaching Learning
Week Hours Learning Outcomes Topics Assessment Tasks
Activities
Elements of high-level
assurance engagement
3. The nature, purpose and scope of an
audit
The historical development
of auditing
The ethical case of auditing
1. Philosophy of an audit
2. Definition and objective
3. Why independent
auditing is necessary
The notion of accountability,
stewardship and agency
The social concept of an
purpose audits.)
audit and its changing role
Philippine Standards on
Auditing(PSAs)
4. Types of audit [financial statements
audit, operational audit, compliance
audit]
a. Types of auditors
b. General types of audit
External independent
financial statements audit
Internal audit
Government auditing
Special purpose audit
2nd 6 At the end of the lesson, the learner 1. The nature of the accounting Discussion Quiz/Test
profession Assignment Multiple choice
will be able to:
2. Standard-setting and regulation in End- of-class questions
Review the nature of the accounting practice quiz Assignment
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COURSE CONTENT
Teaching Learning
Week Hours Learning Outcomes Topics Assessment Tasks
Activities
accounting profession
Illustrate professionalism
As required by the Class
accounting profession set participation(recit
forth in the professional ation)
standards; and
Discuss what public
accounting is as a 3. Public accounting profession
profession, including the 4. Philippine Standards on Auditing
management of public 5. Management of public accounting
accounting practice practice
Teaching Learning
Week Hours Learning Outcomes Topics Assessment Tasks
Activities
Quiz/Test
At the end of the lesson, the learner Discussion
Multiple choice
will be able to: Case study
questions
Assignment
Illustrate knowledge of Case Study
1. Republic Act 9298 or “ The End-Of-Class
Republic Act 9298 or “ The Philippine Accountancy Act of 2004” Class
quiz
Philippine Accountancy Act and its implementing rules and participation(recit
4th 6 of 2004” and its ation)
regulations
implementing rules and
regulations 2. Auditor’s responsibility on fraud,
error and non-compliance
Explain auditor’s
responsibility on fraud, error
and non-compliance
6 The Framework of Financial Statements
5th
At the end of the lesson, the learner Audit Discussion Quiz/Test
1. Audit planning, supervision and Case study Multiple choice
will be able to:
monitoring Assignment questions
Demonstrate knowledge on Scope and purposes of audit End-Of-Class Case Study
audit planning, supervision planning quiz Class
and monitoring Audit planning considerations participation(recit
Evaluate an audit plan, planning the audit work ation)
based on risk-based audit Planning a repeat engagement
approach Supervising and monitoring the
Identify the different kinds of engagement
income that a non-resident citizen Special considerations in the audit
may earn and to determine of small entities
whether it is taxable or not. Consideration of environmental
Determine the allowable matters in the audit of financial
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COURSE CONTENT
Teaching Learning
Week Hours Learning Outcomes Topics Assessment Tasks
Activities
statements
2.A risk based audit approach
Introduction
Application of the concept of
materiality to audit
A risk based audit approach
deductions for non-resident
Assessing inherent risk and control
citizens
risk at the assertion level(inherent
Compute the net taxable income,
risk, control risk, detection risk)
income tax due of non-resident
Using the audit risk model to
citizens.
determined the nature, timing, and
extent of audit procedures
Audit risk in the small business
Managing audit risk(business risks,
by transaction cycle
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COURSE CONTENT
Teaching Learning
Week Hours Learning Outcomes Topics Assessment Tasks
Activities
PRELIM EXAMINATION
8th 6 At the end of the lesson, the learner Gathering and Evaluating Audit Quiz/Test
will be able to explain, discuss and Evidences(continuation) Discussion Multiple choice
demonstrate at a fair-level of Case study questions
Documentation: audit working papers Assignment Case Study
competence the concepts and
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COURSE CONTENT
Teaching Learning
Week Hours Learning Outcomes Topics Assessment Tasks
Activities
Teaching Learning
Week Hours Learning Outcomes Topics Assessment Tasks
Activities
Teaching Learning
Week Hours Learning Outcomes Topics Assessment Tasks
Activities
estimation sampling
MIDTERM EXAMINATION
2
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COURSE CONTENT
Teaching Learning
Week Hours Learning Outcomes Topics Assessment Tasks
Activities
Teaching Learning
Week Hours Learning Outcomes Topics Assessment Tasks
Activities
Teaching Learning
Week Hours Learning Outcomes Topics Assessment Tasks
Activities
representations(documentation,
basic elements)
2. Analytical procedures
3. Evaluating findings, formulating an
the audit process, the nature and
opinion and drafting the audit Case Study
significance of each step in the
report(making a final assessment of Group work
audit and assurance service
materiality and audit risk, evaluating project
process in the completing the Group work
audit;
the results, sufficiency and Class
project
adequacy of evidence, adequacy of participation(recit
Explain the post-audit
disclosures and conformity with ation)
responsibilities.
statutory and regulatory
requirements, evidence supporting
.
the auditor’s opinion, drafting the
audit report and other deliverables
to clients)
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COURSE CONTENT
Teaching Learning
Week Hours Learning Outcomes Topics Assessment Tasks
Activities
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Course References
Textbook Cabrera, Ma. Elenita B. Principples of Auditing and Other Assurance Services. Manila : GIC Enterprise c20114
Other References Louwers, Timothy J; Ramsay, Robert J; Sinason, David H; Strawson, Jerry R; Thibodeau, Jay C.
Ng, Mark Francis G. Auditing and Assurance Principles, Standards and Fundamentals. Manila: Rex Book Store,
c2012.
Philippine Standards on Auditing (PSAs), PSQCs Framework, PAPs, PSREs, PSAEs, PSRSs, approved as of
January 31, 2010, Auditing Standards and Practices Council and Board of Accountancy.
Salosagcol,J.G.; Tiu, M.F. and Hermosilla, Roel E. Auditing Theory. Manila: CRC-ACE, c2014
Whittington, O. Ray; Kurt, Pany. Principles of Auditing and Other Assurance Services, USA: McGraw-Hill/Irwin, Inc,
c2012
MG = 2TMG + PG
3
FINAL Grade (FG)
TFG = (FX x 40%) + (AQ3 x 40%) + (CS3 x 20%)
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FG = 2TFG + MG
3
PREPARED BY:
REVIEWED BY:
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