Assurance Principles, Professional Ethics and Good Governance Syllabus
Assurance Principles, Professional Ethics and Good Governance Syllabus
Governance
The course emphasizes the use of relevant knowledge, skills and professional judgment in
analyzing, evaluating, concluding and reporting on the assurance engagement other issues in
the context of the professional regulatory framework. It is intended to adequately prepare
students for analytical activities in subsequent major courses in the Accountancy Curriculum.
Course Intended After completing this course, STUDENTS SHOULD BE ABLE TO:
Learning Outcomes 1. Explain the purpose, nature, scope and ethical principles and rules governing the conduct
of auditing and assurance in the Philippines including the role, duties and responsibilities of the
auditor.
2. Apply audit concepts skills, test and techniques in obtaining audit evidence.
3. Develop and audit plans, implement audit procedures and prepare an appropriate audit
report based on the audit evidence obtained.
4. Apply auditing skills in non assurance services and on non financial informations.
5. Analyze typical and contemporary audit and assurance situations by applying conceptual
framework on auditing standards, corporate governance, professional ethics and financial
reporting.
6. Work productively as part of a team and in particular, communicate and present
information effectively in written and electronic formats in collaborative environment.
Midterm Period
Essential Learning
Wee Content Declarative Functional Intended Learning Suggested Assessment
k Standards Knowledge Knowledge Outcomes (ILO) Teaching/Learni Tasks (ATs)
ng Activities
(TLAs)
1-2 Discuss the Nature, Know the Relate review of Assigned reading: Class recitation
Fundamentals of objectives, philosophy of current publications Chapter 1,2,3,4,5 Quiz (on
Auditing and framework an audit and materials from of textbook week#3)
Assurance and elements various media with Interactive Lecture
Services Understand the the general Class discussion
Types of concept and principles of audit
assurance objective of and assurance
engagements auditing engagements.
Understand
the need for
the
professional
accountant
and develop
capabilities
and
competence
after
admission to
the profession
Know the
competency
requirements
for
professional
accountant in
(a) public
practice
(b)business
Understand
the increase
globalization
of accounting
and auditing
Be familiar
with what a
CPA may
expect in the
future
Enumerate the
activities in
the risk
Assessment
Phase
Understand
what and how
the auditor
performs the
preliminary
engagement
activities in
relation to:
Client
selection
and
retention
Planning the
audit to
develop an
overall
audit
strategy
and audit
plan
Applying the
concept of
materiality
to audit
Preparing an
audit plan
Explain
what
factors
should be
considered
in
evaluating
the
sufficiency
and
appropriate
ness of
audit
evidence
gathered
10 Discuss Audit Basic audit Understand Choose and apply Assigned reading: Graded
Sampling sampling the nature the appropriate Chapter 14-21 of seatwork on
concepts and statistical sampling textbook week #11
purpose of and other selective Interactive lecture
Factors audit test procedures Seatwork
affecting sampling
sample design
Know the
Factors rationale
affecting for audit
sample size sampling
Sample Distinguish
selection between
methods sampling
and non
Evaluation of sampling
sample results risk
Know the
nature of
non
statistical
and
statistical
sampling
Distinguish
between
attribute
and
variables
sampling
techniques
Enumerate
and explain
the factors
affecting
sample
design
Understand
the most
commonly
used
sample
selection
methods
Know the
basic
concepts of
how sample
results are
evaluated
Specify the
test of
controls
should be
performed
Describe
the steps in
the
application
of sampling
in test
controls
Use
attributes
sampling or
statistical
sampling in
test
controls
Understand
the use of
non
statistical
sampling in
test of
controls
Describe
substantive
procedures
and related
risk in
applying
substantive
test
Understand
the
variables
sampling
plan
techniques
Describe
the steps in
variables
sampling
for
substantive
test
Use
variables
sampling
plan(particu
larly the
probability
proportiona
l to Size
sampling
for
substantive
test
Understand
the
application
of classical
variables
sampling
methods.
Describe
the use of
non
statistical
sampling
for
substantive
test
Describe the
process of
reviewing
audit
working
papers
Understand
the post-
audit
responsibiliti
es of the
auditor as far
as follow are
concerned:
-subsequent
discovery of
facts existing
at report
date
Consideratio
n of omitted
procedures
after the
report date
-considered
of omitted
procedures
after the
report date
12 Discuss Reports The unmodified Describe the Prepare an Assigned reading: Graded
on Audited auditors report independent appropriate audit Chapter 24,25 of seatwork
Financial and its element auditors report based on the textbook Graded
Statements report information Interactive lecture homework
The different provided. Compare Seatwork Quiz on
types of Know the and contrasts an week#13
modified requirements unmodified opinion
auditors report relative to with the different
forming an types of modified
opinion on opinion.
the financial
an opinion on Evaluate an audit
the financial situation that has
statements gone wrong and
apply a solution
Know how to
deal with
supplementa
ry
information
presented
with the
financial
statements
Know how to
deal with
supplementa
ry
information
presented
with the
financial
statements
Procedures and Explain the Differentiate the Assigned Graded
13 Discuss Reports Reports on circumstance different tyes of reading: seatwork
on Audited special purpose s that would special reports with Chapter 24,25 Final exam
Financial audit require the standard audits of textbook on week#14
Statements engagements modifications Interactive lecture
of auditors Identify examples of Seatwork
report and special purpose
Procedure and the effect on audit engagements
reports on non the auditors and non audit
audit opinion engagements
engagements
Understand Apply the steps in
Procedures and with the form performing non
reports on non and content assurance
assurance of the engagements
engagements auditors
report when Synthesize coherent
the opinion standards pertaining
modified to related services
provided by a CPA
Know when
the emphasis Reflect on the
of matter application of
and other auditing to day to
paragraphs day activities
in the
independent
auditors
report are
used
Understand
the auditors
responsibiliti
es regarding
the
correspondin
g figures and
comparative
financial
statements
Know the
auditors
responsibility
in the
relation to
other
information
in the
documents
containing
audited
financial
statements
Extended
Readings
Course GRADING MIDTERM FINAL GRADE
Assessment SYSTEM: GRADE Midterm Grade 40%
Class Standing 30% Class Standing 15%
Quizzes 30% Quizzes 15%
Midterm Exam 40% Final Exam 30%
-------- --------
100% 100%
Course
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