EAST SYTEM COLLEGES OF RIZAL

R. Palma St. San Pedro, Morong, Rizal

2nd Semester 2016-2017

COURSE SYLLABUS

I. Course Title : Internal Audit

II. Course Credit: 6 Units
III. Course Description
The course will cover internal audit from a broad perspective that includes information
technology, business processes, and accounting systems. Topics include internal auditing
standards, risk assessment, governance, ethics, audit techniques, and emerging issues. The
course covers the design of business processes and the implementation of key control
concepts and uses a case study approach that addresses tactical, strategic, systems, and
operational areas. Business improvements in the effectiveness and efficiency of business
processes and controls will be covered in the areas of operations, finance and technology.
IV. Learning Objectives
To develop knowledge and understanding of the process of carrying out assurance engagement
and its application in the context of professional regulatory framework.
IV. Course Content
Chapter Topic Period
1. Overview of the course Week 1

2. Administrative matters

3. Audit Framework and Regulation

1  Audit and Other Assurance Engagement Week 2

2  Statutory Audit and Regulations Week 3

3,4,5  Corporate Governance Week 4,5
 Professional Ethics
 Internal Audit
6,7,8  Risk Assessment Week 6,7
 Audit Planning and Documentation
 Introduction to Audit Evidence
9  Internal Control Week 8

10,11  Test of Controls Week 9,10

 Audit Procedures and Sampling
12  Non Current Asset Week 11
 Non Current Asset-Auditing Problems

13,14  Inventory Week 12

 Auditing Problems
15,16,17,18,19, 20  Receivables Week 13,14,15
 Audit of Receivables
 Cash and Bank
 Audit of Cash
 Liabilities and Capital
  Audit of Liabilities and Capital

21,22,23,24  Not for Profit Organization Week 16,17

 Audit of Not for Profit Organization
 Audit Review and Finalization
 Reporting-Reports

25  Case Studies Week 18

V. Course Methodologies
a. Cooperative Learning d. Case Study
b. Direct Explanation e. Problem Based Learning
c. Direct Instruction f. Active Listening
 VI. Course Requirements

Examinations: There will seatwork, prelim, midterm, semi-finals and finals. The date of
quizzes will be announce. Students must bring calculator.

Attendance Policy: Students are required to attend all the sessions. While mere attendance
does not guarantee passing this course, active, informed and continued presence will
significantly increase the opportunity to master the course material.

Coursework will be weighted as follows:

Quizzes and Exercises 20%

Attendance 20%

Recitation/Case Study 20%

Examinations 40%

VII. Reference
ACCA Paper F8 Audit and Assurance International, United Kingdom: BPP House Aldine Place
Fourth Edition September 2009

Prepared by:

JOUHARA G. SAN JUAN

Instructor
November 19, 2016
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