Obe Syllabus 2ex6e
This document was ed by and they confirmed that they have the permission to share it. If you are author or own the copyright of this book, please report to us by using this report form. Report 3b7i
Overview 3e4r5l
& View Obe Syllabus as PDF for free.
More details w3441
- Words: 1,637
- Pages: 8
X UNIVERSITY College of ancy Bachelor of Science in ancy Course Syllabus in Auditing Theory Review 2nd Trimester, S.Y. 2011-2012
I.
Course Code:
II.
Course Description:
Acctg30
The course is a three-unit subject intended to provide the students with concepts underlying the public ing practice and the auditor as a professional. This subject tests the candidates’ conceptual knowledge and understanding of assurance and related services performed by professional ants. Candidates should know and understand the nature of assurance and related services particularly independent audits of financial statements, the responsibilities of professional ants; the audit process; audit objectives, evidence, procedures, auditing standards, and the elements of the independent auditors’ report. In all the areas included, the candidate shall apply the Philippine Standards on Auditing (PSA) and other regulatory laws and regulations in effect at the time of examination. Credit Units Hours Prerequisites
III.
: 3 units : 50 hours, 1 meeting per week, 4 hours per meeting : ing 20/21
Course Outcomes: CO #
Description
PO1
PO2
PO3
PO4
PO5
PO6
PO7
1
State, explain and discuss the nature of auditing, the type of audit, the characteristics if ing, as a profession, the significant provisions of the Revised ancy Law, and the operations of public ing firms.
3
1
2
1
1
1
3
2
Explain and discuss the nature of audit objectives, evidences, procedures and techniques and apply the concepts and principles of internal control and techniques used to review and evaluate internal controls.
3
1
3
2
2
2
3
3
IV.
Demonstrate the concepts and methodology of statistic audit sampling and prepare audit reports under varying circumstances.
2
1
2
2
3
Course Contents: Objectives
Topics
1. Discuss the essence of auditing and assurance services in business. 2. Identify the elements of assurance engagements and cites actual examples of assurance engagements 3. Discuss the basic principles of auditing 4. Discuss the classification of audit and auditors
Fundamentals of Auditing and Assurance Services A. Introduction to assurance engagements 1. Nature, objective and elements 2. Types of assurance engagements 3. Assurance service vis-àvis attestation services B. Introduction to auditing 1. Nature, philosophy, and objectives 2. Types of audits The Professional Practice of ing A. Practice of ing profession 1. ing as a profession 2. Organizations that affect public ing a. Regulatory government agencies b. Standard-setting bodies 3. Regulation of the public ing practice a. RA 9298 b. SRC Rule 68
1. Discuss the attributes of a profession 2. Discuss the environment of the ing professions 3. Identify and discuss the impact of regulatory agencies to the exercise of ancy 4. Discuss the different standard setting bodies that affects the practice of ancy 5. Discuss the regulations set forth under the Code of Professional Ethics 6. Discuss requirement of the Philippine ancy Act of 2004
B. The A’s professional responsibilities
# of meetings
Grading Period
Prelims
Teaching Learning Activities Lecture/ PPT Presentation Problem-solving Board Exercises
Assessment Tools Assignments Seatwork Quizzes Recitations
Lecture/ PPT Presentation Problem-solving Board Exercises
Assignments Seatwork Quizzes Recitations
3 meetings Prelims
1
3
1.Philippine Standards on Auditing 2.Code of Ethics 3.Quality control 4. PSA 240 – Fraud, Error, and Noncompliance
1. Discuss the overview of the audit process. 2. Rationalize and discuss the importance of risks assessment procedures in the pre-engagement stage of the audit. 3. Discuss the elements of audit planning and its scope. 4. Discuss the importance of supervision
1. Discuss the procedures used to obtain understanding of an entity and its environment. 2. Discuss the required understanding of the entity’s internal control. 3. Discuss assessing the risks of material misstatement at the financial statement level and at the assertion level. 4. Discuss development of responses to assessed level of risks at the financial statement level and assertion level.
PRELIM EXAMINATION OCTOBER 21-22, 2011 The Financial Statements Audit –Client 1 meeting Mid Acceptance, Audit Planning, Supervision and Monitoring A. The Generally Accepted Auditing Standards (GAAS) B. Overview of the audit process C. Pre-engagement procedures D. Audit Planning Requirements 1. Planning requirements a. Knowledge of the business b. Preliminary analytical procedures c. Materiality d. Assessing and managing audit risks e. Overall audit plan and audit program f. Considerations of the work of others (experts, internal auditor, other independent auditors) 2.Direction, supervision and review PSA 315 and PSA 330 – Understanding the Entity and its Environment Including its Internal Control and Assessing the Risks of Material Misstatement A. Industry, regulatory and other external factors, including the applicable financial reporting framework B. Internal control a. Understanding and
1 meeting
Mid
Lecture/ PPT Presentation Problem-solving Board Exercises
Assignments Seatwork Quizzes Recitations
Lecture/ PPT Presentation Problem-solving Board Exercises
Assignments Seatwork Quizzes Recitations
documentation b. Assessment of control risks a) Test of controls b) Documentation C. Assessing the risks of material misstatement 1. D. Communicating with those charged with governance and management
1. Define and contrast audit objectives, 2. 3.
procedures, evidence and documentations Discuss reliability of audit evidence Discuss audit procedures and working paper documentations
1. Discuss the nature and type of sampling 2. 3. 4. 5.
6.
approaches Distinguish statistical and non-statistical sampling Discuss the application of audit sampling for test of controls Discuss the application of audit sampling for substantive tests Discuss projection and estimation of errors in a given population Discuss evaluation of sampling results
1. Discuss and identify engagement wrap-up procedures 2. Discuss the auditor’s post audit responsibilities
Audit Objectives, Procedures, Evidences and Documentation A. Nature and significance B. Evidential matters C. Audit procedures / techniques D. Audit working papers
1.5 meeting
Mid
Lecture/ PPT Presentation Problem-solving Board Exercises
Assignments Seatwork Quizzes Recitations
Audit Sampling A. Basic audit sampling concepts 1.Nature and purpose 2. Non-statistical and statistical sampling 3. Attribute and variables sampling technique 4.Sampling and non-sampling risk 5. Testing procedures which do not involve sampling B. Factors affecting sample design C. Factors affecting sample size D. Sample selection methods E. Evaluation of sample results
1.5 meeting
Mid
Lecture/ PPT Presentation Problem-solving Board Exercises
Assignments Seatwork Quizzes Recitations
Lecture/ PPT Presentation Problem-solving Board Exercises
Assignments Seatwork Quizzes Recitations
MIDTERM EXAMINATION NOVEMBER 23 – 24, 2011 Completing the Audit / Post-Audit 1 meeting Finals Responsibilities A. Completing the audit and audit report preparation B. Post-audit responsibilities 1.Subsequent discovery of facts 2. Subsequent discovery of omitted
procedures 1. Discuss the preparation of audit reports 2. Discuss the rules of modification of the audit reports 3. Distinguish issues that do not lead to modification of the opinion and those that do not 4. Discuss reporting on comparatives
Reports on Audited Financial Statements A. The unqualified auditor’s report B. Basic elements of the unqualified auditor’s report C. Modified auditor’s report 1.Matters that do not affect the auditor’s opinion 2. Matters that do affect the auditor’s opinion D. Report on comparatives
1 meeting
Finals
Lecture/ PPT Presentation Problem-solving Board Exercises
Assignments Seatwork Quizzes Recitations
1. Identify and discuss other assurance and nonassurance engagements that are provided by professional ants in practice 2. Discuss professional requirements imposed by applicable standards for each line of service
Other Assurance and Non-assurance Services A. Procedures and reports on special purpose audit engagements 1.Audit of financial statements prepared in accordance with a comprehensive basis of ing other than GAAP in the Philippines 2. Audit of a component of financial statements 3. Reports on compliance with contractual agreements 4.Reports on summarized financial statements B. Other assurance engagements: procedures and reports 1.Examination of prospective financial information 2. Engagements to review financial statements C. Non-assurance engagements 1. Agreed-upon procedures regarding financial information 2.Compilation of financial information
1 meeting
Finals
Lecture/ PPT Presentation Problem-solving Board Exercises
Assignments Seatwork Quizzes Recitations
FINAL EXAMINATION
DECEMBER 14 -17, 2011
V. Teaching-Learning Activities (TLA) TLA Description 1 Lecture presentation 2 Problem-solving 3 Board exercises
CO1 60% 30% 10%
CO2 60% 30% 10%
CO3 70% 20% 10%
CO1 10% 50% 40%
CO2 10% 50% 40%
CO3 10% 50% 40%
VI. Assessment Tools (AT) AT 1 2 3
Description Assignments and seatwork Examinations Recitations and quizzes
VII. Computation of Scores: Prelims: Prelim Grade = 10%SW/A + 40% QUIZ + 50% EXAM Mid: Raw Midterm Grade = 10% SW/A + 40% QUIZ + 50% EXAM Midterm Grade = 50% Prelim Grade + 50% Midterm Raw Score Finals: Raw Final Grade = 10% SW/A + 40% QUIZ + 50% EXAM Final Grade = 50% Midterm grade + 50% Raw Final Grade VIII. References: A. Textbook: Acl 657.450218599 P538 2008
PIA-MMR Committee on E (2008), Philippine Standards on Auditing,
Acl 657.45 R358 2010
Ricchiute, David N. Auditing and Assurance Services 7th Edition, South Western College Publishing, Cincinnati, Ohio 2010 Ireneo, Jose M., Ireneo, Shirley C., and James, George R. (2011), Auditing and Assurance Principles
Salosagcol, Jekell, Tiu, Micheal and Hermosilla, Roel, Auditing Theory and Concepts, GIC Enterprises & Co., Inc. 2008 B. Books: Acl 657.45076 B63 2008
Bobadilla, Apolinario D. and Ocampo, Reynaldo R. (2008 Edition), Reviewer in Auditing Theory, Lares Bookstore, Manila
Acl 657.45076 C112 2008
Cabrera, Ma. Elenita Balatbat, Comprehensive A Reviewer in Auditing Theory, GIC Enterprises & Co. Inc, Manila 2008
Acl 657.45076 W618 2008
Whittington, O. Ray and Delaney, Patrick R. (2008 Edition), Wiley A Exam Reviewer – Auditing and Attestation, John Wiley & Sons, Inc., Hoboken, New Jersey Code of Ethics for Professional ants in the Philippines (Effective June 30, 2008) Philippine Standards on Auditing (PSAs), Auditing and Assurance Standards Council Philippine Standards on Assurance Engagements (PSAEs), Auditing and Assurance Standards Council Philippine Standards on Related Services (PSRSs), Auditing and Assurance Standards Council Philippine Standards on Review Engagements (PSREs), Auditing and Assurance Standards Council Philippine Standards on Quality Control (PSQCs), Auditing and Assurance Standards Council Practice Statements, Auditing and Assurance Standards Council R.A. 9298 – Philippine ancy Act of 2004 (Effective May 13, 2004) Rules and Regulations for the Accreditation of ing Teachers (Effective June 20, 2008)
C. Online References: www.prboa.com www.aasc.org.ph www.pia.com.ph
Prepared by:
Evaluated by:
Approved by:
Noted by:
I.
Course Code:
II.
Course Description:
Acctg30
The course is a three-unit subject intended to provide the students with concepts underlying the public ing practice and the auditor as a professional. This subject tests the candidates’ conceptual knowledge and understanding of assurance and related services performed by professional ants. Candidates should know and understand the nature of assurance and related services particularly independent audits of financial statements, the responsibilities of professional ants; the audit process; audit objectives, evidence, procedures, auditing standards, and the elements of the independent auditors’ report. In all the areas included, the candidate shall apply the Philippine Standards on Auditing (PSA) and other regulatory laws and regulations in effect at the time of examination. Credit Units Hours Prerequisites
III.
: 3 units : 50 hours, 1 meeting per week, 4 hours per meeting : ing 20/21
Course Outcomes: CO #
Description
PO1
PO2
PO3
PO4
PO5
PO6
PO7
1
State, explain and discuss the nature of auditing, the type of audit, the characteristics if ing, as a profession, the significant provisions of the Revised ancy Law, and the operations of public ing firms.
3
1
2
1
1
1
3
2
Explain and discuss the nature of audit objectives, evidences, procedures and techniques and apply the concepts and principles of internal control and techniques used to review and evaluate internal controls.
3
1
3
2
2
2
3
3
IV.
Demonstrate the concepts and methodology of statistic audit sampling and prepare audit reports under varying circumstances.
2
1
2
2
3
Course Contents: Objectives
Topics
1. Discuss the essence of auditing and assurance services in business. 2. Identify the elements of assurance engagements and cites actual examples of assurance engagements 3. Discuss the basic principles of auditing 4. Discuss the classification of audit and auditors
Fundamentals of Auditing and Assurance Services A. Introduction to assurance engagements 1. Nature, objective and elements 2. Types of assurance engagements 3. Assurance service vis-àvis attestation services B. Introduction to auditing 1. Nature, philosophy, and objectives 2. Types of audits The Professional Practice of ing A. Practice of ing profession 1. ing as a profession 2. Organizations that affect public ing a. Regulatory government agencies b. Standard-setting bodies 3. Regulation of the public ing practice a. RA 9298 b. SRC Rule 68
1. Discuss the attributes of a profession 2. Discuss the environment of the ing professions 3. Identify and discuss the impact of regulatory agencies to the exercise of ancy 4. Discuss the different standard setting bodies that affects the practice of ancy 5. Discuss the regulations set forth under the Code of Professional Ethics 6. Discuss requirement of the Philippine ancy Act of 2004
B. The A’s professional responsibilities
# of meetings
Grading Period
Prelims
Teaching Learning Activities Lecture/ PPT Presentation Problem-solving Board Exercises
Assessment Tools Assignments Seatwork Quizzes Recitations
Lecture/ PPT Presentation Problem-solving Board Exercises
Assignments Seatwork Quizzes Recitations
3 meetings Prelims
1
3
1.Philippine Standards on Auditing 2.Code of Ethics 3.Quality control 4. PSA 240 – Fraud, Error, and Noncompliance
1. Discuss the overview of the audit process. 2. Rationalize and discuss the importance of risks assessment procedures in the pre-engagement stage of the audit. 3. Discuss the elements of audit planning and its scope. 4. Discuss the importance of supervision
1. Discuss the procedures used to obtain understanding of an entity and its environment. 2. Discuss the required understanding of the entity’s internal control. 3. Discuss assessing the risks of material misstatement at the financial statement level and at the assertion level. 4. Discuss development of responses to assessed level of risks at the financial statement level and assertion level.
PRELIM EXAMINATION OCTOBER 21-22, 2011 The Financial Statements Audit –Client 1 meeting Mid Acceptance, Audit Planning, Supervision and Monitoring A. The Generally Accepted Auditing Standards (GAAS) B. Overview of the audit process C. Pre-engagement procedures D. Audit Planning Requirements 1. Planning requirements a. Knowledge of the business b. Preliminary analytical procedures c. Materiality d. Assessing and managing audit risks e. Overall audit plan and audit program f. Considerations of the work of others (experts, internal auditor, other independent auditors) 2.Direction, supervision and review PSA 315 and PSA 330 – Understanding the Entity and its Environment Including its Internal Control and Assessing the Risks of Material Misstatement A. Industry, regulatory and other external factors, including the applicable financial reporting framework B. Internal control a. Understanding and
1 meeting
Mid
Lecture/ PPT Presentation Problem-solving Board Exercises
Assignments Seatwork Quizzes Recitations
Lecture/ PPT Presentation Problem-solving Board Exercises
Assignments Seatwork Quizzes Recitations
documentation b. Assessment of control risks a) Test of controls b) Documentation C. Assessing the risks of material misstatement 1. D. Communicating with those charged with governance and management
1. Define and contrast audit objectives, 2. 3.
procedures, evidence and documentations Discuss reliability of audit evidence Discuss audit procedures and working paper documentations
1. Discuss the nature and type of sampling 2. 3. 4. 5.
6.
approaches Distinguish statistical and non-statistical sampling Discuss the application of audit sampling for test of controls Discuss the application of audit sampling for substantive tests Discuss projection and estimation of errors in a given population Discuss evaluation of sampling results
1. Discuss and identify engagement wrap-up procedures 2. Discuss the auditor’s post audit responsibilities
Audit Objectives, Procedures, Evidences and Documentation A. Nature and significance B. Evidential matters C. Audit procedures / techniques D. Audit working papers
1.5 meeting
Mid
Lecture/ PPT Presentation Problem-solving Board Exercises
Assignments Seatwork Quizzes Recitations
Audit Sampling A. Basic audit sampling concepts 1.Nature and purpose 2. Non-statistical and statistical sampling 3. Attribute and variables sampling technique 4.Sampling and non-sampling risk 5. Testing procedures which do not involve sampling B. Factors affecting sample design C. Factors affecting sample size D. Sample selection methods E. Evaluation of sample results
1.5 meeting
Mid
Lecture/ PPT Presentation Problem-solving Board Exercises
Assignments Seatwork Quizzes Recitations
Lecture/ PPT Presentation Problem-solving Board Exercises
Assignments Seatwork Quizzes Recitations
MIDTERM EXAMINATION NOVEMBER 23 – 24, 2011 Completing the Audit / Post-Audit 1 meeting Finals Responsibilities A. Completing the audit and audit report preparation B. Post-audit responsibilities 1.Subsequent discovery of facts 2. Subsequent discovery of omitted
procedures 1. Discuss the preparation of audit reports 2. Discuss the rules of modification of the audit reports 3. Distinguish issues that do not lead to modification of the opinion and those that do not 4. Discuss reporting on comparatives
Reports on Audited Financial Statements A. The unqualified auditor’s report B. Basic elements of the unqualified auditor’s report C. Modified auditor’s report 1.Matters that do not affect the auditor’s opinion 2. Matters that do affect the auditor’s opinion D. Report on comparatives
1 meeting
Finals
Lecture/ PPT Presentation Problem-solving Board Exercises
Assignments Seatwork Quizzes Recitations
1. Identify and discuss other assurance and nonassurance engagements that are provided by professional ants in practice 2. Discuss professional requirements imposed by applicable standards for each line of service
Other Assurance and Non-assurance Services A. Procedures and reports on special purpose audit engagements 1.Audit of financial statements prepared in accordance with a comprehensive basis of ing other than GAAP in the Philippines 2. Audit of a component of financial statements 3. Reports on compliance with contractual agreements 4.Reports on summarized financial statements B. Other assurance engagements: procedures and reports 1.Examination of prospective financial information 2. Engagements to review financial statements C. Non-assurance engagements 1. Agreed-upon procedures regarding financial information 2.Compilation of financial information
1 meeting
Finals
Lecture/ PPT Presentation Problem-solving Board Exercises
Assignments Seatwork Quizzes Recitations
FINAL EXAMINATION
DECEMBER 14 -17, 2011
V. Teaching-Learning Activities (TLA) TLA Description 1 Lecture presentation 2 Problem-solving 3 Board exercises
CO1 60% 30% 10%
CO2 60% 30% 10%
CO3 70% 20% 10%
CO1 10% 50% 40%
CO2 10% 50% 40%
CO3 10% 50% 40%
VI. Assessment Tools (AT) AT 1 2 3
Description Assignments and seatwork Examinations Recitations and quizzes
VII. Computation of Scores: Prelims: Prelim Grade = 10%SW/A + 40% QUIZ + 50% EXAM Mid: Raw Midterm Grade = 10% SW/A + 40% QUIZ + 50% EXAM Midterm Grade = 50% Prelim Grade + 50% Midterm Raw Score Finals: Raw Final Grade = 10% SW/A + 40% QUIZ + 50% EXAM Final Grade = 50% Midterm grade + 50% Raw Final Grade VIII. References: A. Textbook: Acl 657.450218599 P538 2008
PIA-MMR Committee on E (2008), Philippine Standards on Auditing,
Acl 657.45 R358 2010
Ricchiute, David N. Auditing and Assurance Services 7th Edition, South Western College Publishing, Cincinnati, Ohio 2010 Ireneo, Jose M., Ireneo, Shirley C., and James, George R. (2011), Auditing and Assurance Principles
Salosagcol, Jekell, Tiu, Micheal and Hermosilla, Roel, Auditing Theory and Concepts, GIC Enterprises & Co., Inc. 2008 B. Books: Acl 657.45076 B63 2008
Bobadilla, Apolinario D. and Ocampo, Reynaldo R. (2008 Edition), Reviewer in Auditing Theory, Lares Bookstore, Manila
Acl 657.45076 C112 2008
Cabrera, Ma. Elenita Balatbat, Comprehensive A Reviewer in Auditing Theory, GIC Enterprises & Co. Inc, Manila 2008
Acl 657.45076 W618 2008
Whittington, O. Ray and Delaney, Patrick R. (2008 Edition), Wiley A Exam Reviewer – Auditing and Attestation, John Wiley & Sons, Inc., Hoboken, New Jersey Code of Ethics for Professional ants in the Philippines (Effective June 30, 2008) Philippine Standards on Auditing (PSAs), Auditing and Assurance Standards Council Philippine Standards on Assurance Engagements (PSAEs), Auditing and Assurance Standards Council Philippine Standards on Related Services (PSRSs), Auditing and Assurance Standards Council Philippine Standards on Review Engagements (PSREs), Auditing and Assurance Standards Council Philippine Standards on Quality Control (PSQCs), Auditing and Assurance Standards Council Practice Statements, Auditing and Assurance Standards Council R.A. 9298 – Philippine ancy Act of 2004 (Effective May 13, 2004) Rules and Regulations for the Accreditation of ing Teachers (Effective June 20, 2008)
C. Online References: www.prboa.com www.aasc.org.ph www.pia.com.ph
Prepared by:
Evaluated by:
Approved by:
Noted by:
Related Documents 3m3m1z
Obe Syllabus 2ex6e
November 2019 75
Wmsu Obe Syllabus Sample 32641g
November 2019 162
Obe Syllabus Mm3.doc 3r2g32
January 2022 0
Obe Syllabus Technical Writing v4p6d
December 2021 0
Tfn Obe Syllabus 413c60
November 2021 0
Proposed Obe Syllabus Format 5a6m53
December 2019 49More Documents from "Rex Banggawan" 2132p
2gerardo Espina Et Al Vs. Exec Sec Ronaldo Zamora 1h1o3k
October 2021 0
Obe Syllabus 2ex6e
November 2019 75
Erving Goffman Behavior In Public Places Pdf 424s7
November 2019 198
Golf Course Management Structure b5l4o
December 2019 51
[trading Ebook] Gann, W.d. - Forecasting By Time Cycles.pdf 2l5720
April 2023 0