De La Salle University – Dasmariñas

COLLEGE OF BUSINESS ADMINISTRATION

AND ACCOUNTANCY

ACCOUNTANCY DEPARTMENT

COURSE SYLLABUS

COURSE CODE : ACTG 309

COURSE TITLE : Assurance Principles, Professional Ethics & Good Governance
COURSE TYPE : Lecture
COURSE CREDIT : 6 units
PRE-REQUISITES : ACTG203/ACOM321
CO-REQUISITES :
INSTRUCTOR : Mr. Sancho T. Castro
CONSULTATION : BBA305

COURSE DESCRIPTION
This course deals with the basic concepts and methodology of auditing with emphasis on financial audits
by independent CPAs. The topics covered are the responsibilities of professional accountants; the audit
process; audit objectives, evidence, procedures, auditing standards, and the elements of the independent
auditor’s report. All areas included shall apply the Philippine Standards on Auditing (PSA) and other
regulatory laws and regulations. Also discussed are basic approaches to audit of computerized records,
internal auditing and government auditing.

COURSE LEARNING OUTCOME

1. State, explain and discuss the nature of auditing and its societal role, the characteristics of accounting
as a profession, the significant provision of RA9298, and the operations of a public accounting firm.
2. Explain and discuss the nature, objectives, uses, scope and limitations of an independent audit and its
underlying theoretical foundations
3. Have a conceptual view of the audit process and be able to explain and discuss the nature and
significance of each step in the process.
4. Explain, discuss and apply with reasonable level of competence the concept and principles of internal
control and techniques used to review and evaluate an internal control system.
5. Explain, discuss, and demonstrate the concepts and methodology of statistical audit samplings, the
basic approach to auditing computerized records.
6. Appreciate the need for high standards of professional competence, integrity, and objectivity, and be
able to explain, discuss and apply the ethical and technical standards of the accountancy profession.
7. Identify the different types of audit reports and give the appropriate situations when these reports
should be rendered.
LEARNING PLAN

TEACHING-
HOURS/ LEARNING ASSESSMENT
TOPIC LEARNING
WEEK OUTCOME STRATEGY
ACTIVITY
 Define assurance  Advance  Recitation
and assurance reading of the  Topic
engagements and topic. reporting
discussing their  Gospel  Group case
elements. reading and
 Differentiate reflection. analysis
assurance  Review of past  Short
engagements lessons quizzes
according to  Discussion of  Long quiz
Fundamentals of structure and the principles per chapter
3hrs/ Wk1 according to level of and its
Assurance Services
assurance provided. application in
 Discuss the actual
meaning of practice.
assertion-based  Corroboration
through
engagements.
intuitive
 Application of questioning of
principles on short other students.
cases.  Students to
share their
 Differentiate understanding
auditing and on the
accounting principle.
 Differentiate audits,  Summary of
assertion-based topics
discussed.
engagements and
Audits of Historical assurance services
Financial 3hrs/ Wk1  Understand the
Information objective and scope
of financial
statement audit
 Appreciate the
evolution of
auditing through
history
Setting Up and 3hrs/ Wk2  Discuss the
Maintaining a requirements to set
Professional up one’s own
Accounting accounting practice
Practice
 Understand the
other considerations
in setting up an
accounting practice
 Discuss the
 reporting
responsibilities of
CPAs in case of
death, disability,
dissolution and
liquidation
 Appreciate the need
for quality controls
 Enumerate the
different elements
6hrs/ of a system of
Quality Controls quality control
Wk3-4
 Explain the purpose
of an engagement
quality control
review
 Appreciate the need
for a Code of Ethics
Code of Ethics for  Know the pertinent
3hrs/ Wk4
CPAs provisions of the
Code of
Professional Ethics
 Explain the overall
objective of an
independent auditor
 Identify major
financial statement
assertions in the
context of an audit
of financial
Overview of the statements
Financial Statement 6hrs/ Wk5
 Know the major
Audit Process
phases of the
financial statement
audit process
 Know the
procedures involved
during pre-
engagement
activities
PRELIMINARY EXAMINATION
Audit Planning 6hrs/ Wk7  State the general  Advance  Recitation
objective in reading of the  Topic
planning an audit topic. Reporting
 Understand how  Gospel  Group case
the auditor obtains reading and
reflection. analysis
an understanding of
the client and its  Review of past  Short
environment lessons quizzes
 Define analytical  Discussion of  Chapter
procedures and the principles
 explain why they and its
are important at the application in
planning stage of actual
the audit practice.
 Discuss the  Corroboration
contents of the through
audit plan and the intuitive
audit program questioning of
 Appreciate the other students.
importance of  Students to
internal control share their
systems understanding
 Know the on the
techniques that may principle.
be used to  Summary of
document the topics
Study and auditor’s discussed.
Evaluation of 6hrs/ Wk8 understanding of an
Internal Control entity’s internal
control structure
 Know how control
risk is assessed, and
the implications of
this assessment to Long quiz
the rest of the
financial statement
audit process
 Identify the
attributes of audit
evidence
 Understand the
relationships
between assertion,
audit objectives and
audit procedures
 Define audit
documentation and
Substantive Testing
6hrs/ Wk9 listing down the
and Documentation
factors which affect
the form and
content of audit
documentation
 Know the pertinent
considerations
regarding the
ownership, custody
and confidentiality
of working papers
Basic Audit 6hrs/  Explain the different
Sampling Concepts Wk14 risk considerations in
obtaining audit
evidence
 Differentiate
statistical from non-
statistical sampling
  Discuss sampling
approaches and other
means of testing
 Illustrate sampling
for test of controls
and substantive tests
 Discuss common
projection techniques
for sampling in
substantive tests

COMPREHENSIVE MIDTERM EXAMINATION

 Identifying the
different procedures
performed to
complete an audit  Advance
engagement reading of the
 Knowing the topic.
requirement of PSAs  Gospel
for the different reading and
completion reflection.
Completing the 6hrs/  Review of past
procedures
Audit Wk15 lessons
 Describing the
purpose and content  Discussion of
the principles  Recitation
of management
and its  Topic
representation letters,
management letters application in Reporting
and communications actual  Group case
with management practice. analysis
and those charged  Corroboration  Short
with governance. through
quizzes
 Describing the nature intuitive
questioning of  Chapter
and need for the Long quiz
auditor’s report other students.
 Students to
 Describing the
share their
process for deciding
understanding
the appropriate audit
on the
report
principle.
The Audit 6hrs/  Specifying the
 Summary of
Report Wk16 conditions that
topics
justify issuing the
discussed.
standard unqualified
audit report and
conditions requiring
a departure from an
unqualified audit
report
Special 3hrs/Wk1  Identifying the
Considerations 7 different
and Audits of engagements where
Summary auditors issue special
purpose audit reports
 Understanding the
 requirements of
PSAs in issuing
special reports
 Describing the
contents of special-
purpose audit reports
 Know the big firms
in the country.
 Know how the
theories learned in
this subject applied
Firm Visit in actual practice.
 Appreciate the
importance of this
career field and feel
how it is like in
actual practice.
 Identifying non-audit
assurance
engagements
commonly
performed by CPAs
 Identifying the
Non-Audit
different
Assurance
3hrs/ engagements
Engagements
Wk17 classified as related
and Related
services
Services
 Understanding the
requirements of
professional
standards in issuing
reports on related
services
COMPREHENSIVE FINAL EXAM

GRADING SYSTEM
CRITERIA PERCENTAGE
Major Exam 30%
Class Standing
Recitation 10%, Quizzes (Long and short quizzes) 60%, Assignments 5% 70%
Topic Reporting 25%
TOTAL 100%

Semestral grade = [(Prelim grade) + (Midterm grade) + (Final term grade)] / 3

COURSE POLICIES
Class Attendance: A significant portion of your learning is dependent on your participation in, and
contribution to the classroom community. You are expected to be in class, turn in all work on time, and
significantly contribute to the classroom discussion. You may be absent only (due to sickness or
extremely unavoidable circumstances), for a maximum of 22 hours, inclusive of tardiness. All absences
after that shall mean excessive absences, which merits a grade of 0.00.
 Assignments: Assignments will be due at the beginning of class unless otherwise indicated.
Assignments turned in after the due date will not be accepted. There is no provision for make up for any
missed assignment.
Seatwork: No book, no seatwork policy is to be followed for the whole semester. There is no
provision for makeup for any missed seatwork.
Quizzes and Examinations: Make up quizzes are given for approved absences only. If you missed any
quiz, you should see me during my consultation hours on the day you report to our class to schedule the
make-up quiz. You will lose the chance to take the special quiz if you fail to take such as scheduled.
Short Quizzes: Short quizzes are to be administered at the start of classes (immediately after the
Gospel reading). It will usually be in the following format: True or False, Multiple Choice
(Theory/Problem Solving), Enumeration or Identification for a minimum of 10 points and a maximum of
20 points, covering immediate past or the next lesson. There is no provision for missed short quiz. This
requirement intends to discipline you in two ways: one, ensuring that you come prepared for the class and
two, practicing punctuality in attendance.
Major Exams: There will be three Major Examinations which include a comprehensive Midterm and
Final Exams. You may take a special examination only if your failure to take such is due to an approved
absence, sickness, or extremely unavoidable circumstances. You are responsible for arranging the
schedule with your subject teacher. Special major examination is given only within one week after the
examination schedule.
Policy on Scholastic Dishonesty: Students must be honest at all times; cheating and plagiarism in any
form will merit a grade of 0.00.
Textbook: The textbook is an essential reference and learning tool. In order to succeed in this course,
you will need to spend time understanding this text in preparation for class. You should bring with you
this book every class meeting as most of the class activities will require its use.
Proper Decorum inside the Class: Cellular/Mobile phones should always be in silent mode during
class hours; the use of cellular phones is prohibited in class unless a special permission is sought. Cellular
phones cannot also be used as calculator during examination. The use of translators is strictly prohibited
during quizzes and major examinations. Civility in the classroom is expected from all members of the
class.
General Concerns: All written requirements should be completed on appropriate working papers with
your name, course/section code, date and type of course requirement. Documents should have a neat,
professional appearance and be stapled in correct sequential order. All written answers/solutions must be
prepared using correct format, grammar, punctuation and spelling. You must provide your own supplies,
including a non-programmable calculator, for use whenever necessary. Only black inked-pen is allowed.
Other Concerns Relative to the Class: Any concern that is relevant to the class should be brought to
the attention of the subject teacher before it is elevated to a higher authority or an outside party. This
would cover, for instance, complaints directed to the subject teacher (manner of teaching, grades, etc.) or
to your classmates. Special arrangements requested due to certain situations (e.g. student’s disabling
condition) may be decided or acted on a case to case basis.
Other matters not provided in the preceding policies concerning this class may be resolved within the
bound of University policy.

REFERENCES

Call Number or e-provider Reference Material

 Ireneo, J. M., Ireneo, S. C. & James, G.R.(2018). Auditing &
For immediate library
assurance principles (2018 ed.). Manila: Good Dreams
acquisition
Publishing

For immediate library Knechel, R. & Salterio, S. (2016). Auditing assurance and risk
acquisition 4th ed. New York: Routledge

William, M. Jr, Glover, S. & Prawitt, D. (2016). Auditing and

For immediate library
assurance services: a systematic approach. Vancouver:
acquisition
CaseWare Analytics

Arens, A., Elder, R. & Beasley M. (2015). Auditing and

HF 5667 .Ar33 2015 assurance services:an integrated approach 15th ed. Singapore:
Pearson Education South Asia Pte Ltd.

Cohen, J. & Simnett, R. (2015) CSR and assurance services: a

American Accounting
research agenda. AUDITING: A Journal of Practice & Theory:
Association
February 2015, Vol. 34, No. 1, pp. 59-74.

Farooq, M.B. & De Viller, C. (2017). The market for

sustainability assurance services: A comprehensive
Emerald Insight literature review and future avenues for research. Pacific
Accounting Review, Vol. 29 Issue: 1, pp.79-106,
https://doi.org/10.1108/PAR-10-2016-0093

Prepared by:

Accountancy Department
1st Semester, SY 2018-2019

Endorsed by:

Eden C. Cabrera, CPA, MBA

Chair, Accountancy Department

Approved by:

Mary Felidora Florinor M. Amparo, PhD

Dean, College of Business Administration and Accountancy
 De La Salle University - Dasmariñas
College of Business Administration and Accountancy
Accountancy Department

PROGRAM LEARNING OUTCOME - COURSE LEARNING OUTCOME

MAPPING TABLE FOR ASSURANCE PRINCIPLES, PROFESSIONAL ETHICS & GOOD
GOVERNANCE

COURSE CODE : ACTG309

COURSE TITLE : Assurance Principles, Professional Ethics & Good Governance
COURSE TYPE : Lecture
COURSE CREDIT : 6
PROGRAM : BSA

Course Learning Program Learning Outcome

Outcome PLO PLO PLO PLO PLO PLO PLO PLO PLO PLO PLO PLO
1 2 3 4 5 6 7 8 9 10 11 12

1. State, explain and discuss √

the nature of auditing and
its societal role, the
characteristics of
accounting as a profession,
the significant provision of
RA9298, and the operations
of a public accounting firm.

2. Explain and discuss the √

nature, objectives, uses, √
scope and limitations of an
independent audit and its
underlying theoretical
foundations

3. Have a conceptual view √ √

of the audit process and be
able to explain and discuss
the nature and significance
of each step in the process.

4. Explain, discuss and

apply with reasonable level
of competence the concept
and principles of internal
√
control and techniques used
to review and evaluate an
internal control system.
 5. Explain, discuss, and √ √
demonstrate the concepts
and methodology of
statistical audit samplings,
the basic approach to
auditing computerized
records.

6. Appreciate the need for √

high standards of
professional competence,
integrity, and objectivity,
and be able to explain,
discuss and apply the
ethical and technical
standards of the
accountancy profession.
7. Identify the different √
types of audit reports and
give the appropriate
situations when these
reports should be rendered.

NOTE: Provide a check mark on the areas in which the program learning outcome (PLO) is hit by the
course learning outcome (CLO)

Program Learning Outcome

1. PLO 1 Record financial transactions in compliance with generally accepted accounting standards for
sole proprietorships, partnerships, corporations, government and not-for-profit organizations.
2. PLO 2 Prepare general-purpose financial reports in accordance with generally accepted accounting
standards.
3. PLO 3 Prepare individual and corporate income tax returns and basic tax planning in compliance with
relevant legislations and regulations.
4. PLO 4 Analyze the components of an organization's governance structure and internal control.
5. PLO 5 Analyze an organization's risks and opportunities within a risk management framework.
6. PLO 6 Perform independent audit of financial statements and prepare audit reports and other reports to
management.                   
7. PLO 7 Analyze and integrate financial and nonfinancial data to provide relevant information for
managerial decision making.      
8. PLO 8 Apply techniques that will help evaluate and improve the performance of an organization.        
9. PLO 9 Conduct accounting research through independent studies of relevant literature and appropriate
use of accounting theory and methodologies.
10. PLO10 Employ technology as a business tool in capturing and processing financial and non-financial
information, generating reports and making decisions.
11. PLO 11 Apply knowledge and skills that will enable them to successfully respond to various types of
assessments such as professional licensure examinations and certifications.
12. PLO 12 Adhere to legitimate and acceptable ethical objectives of an organization and the profession
anchored on Lasallian values.