Learning Diary and Reading Report

Colegio de San Gabriel Arcangel, Inc.
Founded 1993
Area E, Fatima 1, Sapang Palay, City of San Jose del Monte, Bulacan
Recognized by the Government: DepEd, TESDA and CHED
PACUCOA Accredited – Level 1 Status
 Telefax No. (044) 7600-301 /  0915-810-5686
READING REPORT in Auditing Assurance

(Subject Code & Description)
Date: Nov. 17, 2020
The title of the book/ article I have read is: Auditing Assurance
AUTHOR’S LOGIC: The author is conveying the message/idea of:
Example: “Green” branding of businesses has gone too far and no longer carries the same sort of impact it once did.
Today, so many people are concerned with the environment that many businesses try to represent themselves as being
“green.” They want to have a reputation for being environmentally conscious.
Value-added assessments, management audits, added value auditing, and continual improvement
assessment are terms used to describe an audit purpose beyond compliance and conformance. The purpose
of these audits relates to organization performance. Audits that determine compliance and conformance are
not focused on good or poor performance, yet. Performance is an important concern for most organizations. A
key difference between compliance audits, conformance audits, and improvement audits is the collection of
evidence related to organization performance versus evidence to verify conformance or compliance to a
standard or procedure. An organization may conform to its procedures for taking orders, but if every order is
subsequently changed two or three times, management may have cause for concern and want to rectify the
inefficiency.
STUDENT’S LOGIC: Provides learners with an opportunity to reflect and think about how they actually solve problems and how
a particular set of problem solving strategies is appropriate for achieving their goal. What is to be accomplished/learned?
Example: In support of the Supermarket “Green” initiatives, I bring my own shopping bags for grocery shopping and
say no to plastic bags.
A product, process, or system audit may have findings that require correction and corrective action. Since most
corrective actions cannot be performed at the time of the audit, the audit program manager may require a
follow-up audit to verify that corrections were made and corrective actions were taken. Due to the high cost of
a single-purpose follow-up audit, it is normally combined with the next scheduled audit of the area. However,
this decision should be based on the importance and risk of the finding. An organization may also conduct
follow-up audits to verify preventive actions were taken as a result of performance issues that may be reported
as opportunities for improvement. Other times organizations may forward identified performance issues to
management for follow-up.
VISION: MAN OF GOD – VIR ENIM DEI. “A leading transformational leadership institution with a unique
Gabrielian Culture of Discipline, Socially Responsible, Interdependent, Functionally Productive, Godly
Individuals and reaching the marginalized to thrive in the global community.
In aligning to the Vision and Mission of the College, I can apply what I have learned from my readings by:
Example: Being more aware about eco-friendly practices you can adopt at home so that we can make a positive difference as socially
responsible graduates.
I can connect my learning by applying it to myself it is important that me as a person have a control in life and
having a vision of a bright future by this means I need to be responsible in every action I might take because
every action will have a consequences.
Prepared by: Checked by:
ALVAREZ, HAZEL C. PROF. ADALIA BRINGAS

Student Professor/Instructor
Colegio de San Gabriel Arcangel, Inc.
Founded 1993
Area E, Fatima 1, Sapang Palay, City of San Jose del Monte, Bulacan
Recognized by the Government: DepEd, TESDA and CHED
PACUCOA Accredited – Level 1 Status
 Telefax No. (044) 7600-301 /  0915-810-5686
LEARNING DIARY in __ Auditing Assurance ________________

(Subject Code & Description)
Date: _Nov. 17, 2020_______
I learned in our prayer that Always be thankful in the blessings we received from above and appreciate
little things that may come in our life. God is always there for us.
My action today is to Is to be a responsible student listen to the discussion carefully and do your best to
understand the lesson and in also doing the task in every activity.
In our lessons for today, I have learned about:

1. I learned that the audit is the process of evaluating the accounting entries present in the financial
statement of the company
2. I learned that assurance if followed by the audit.
3. I learned that Assurance is the process of analyzing and used in the assessment of accounting
entries and financial records.
4. I learned that assurance is a process of verifying the records available in the company’s accounting
record is as per accounting standard and principle, and it also verifies that accounting record is
accurate or not.
5. I learned that the audit tells about any misrepresentation done in financial records, any misuse of
funds, any fraud, and any fraudulent activities done in a company or done by the company.
6. I learned that assurance specializes in assessing the improving the quality of the information in a
company. It helps in decision making in an organization.
7. I learned that an audit firm does assurance.
8. I learned that auditing includes making sure ethically presentation, fairly presented, accurate, and it
also checks whether financial reports are as per accounting standard and accounting principle.
9. I learned that the audit checks the accuracy of the financial reports.
10. I learned that the use of Assurance is to check the accuracy of financial reports. It also assures all the
stakeholders that there is no misrepresentation done in financial records, no misuse of funds, no
fraud, and no fraudulent activities done in a company or done by the company.
I will memorize the above learning points, explain them in my own words, and apply them in our activities.
VISION: MAN OF GOD – VIR ENIM DEI. “A leading transformational leadership institution with a unique
Gabrielian Culture of Discipline, Socially Responsible, Interdependent, Functionally Productive, Godly
Individuals and reaching the marginalized to thrive in the global community.
I can connect my learning today with the vision and mission of our school by:
I can connect my learning by applying it to myself to be a responsible student that has discipline and doing
the every task in schools because everything I do has effect on my grades. It is important that me as a
student to have control on myself that needed to priority to put first things first.
Prepared by: Checked by:
ALVAREZ, HAZEL C. PROF. ADALIA BRINGAS

Student Professor/ Instructor

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Colegio de San Gabriel Arcangel, Inc.

READING REPORT in Auditing Assurance

Prepared by: Checked by:

ALVAREZ, HAZEL C. PROF. ADALIA BRINGAS

LEARNING DIARY in Auditing Assurance ______________

Date: _Nov. 17, 2020_______

In our lessons for today, I have learned about:

Prepared by: Checked by:

ALVAREZ, HAZEL C. PROF. ADALIA BRINGAS

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