COPIES ISSUED TO:

DOCUMENT:SYLLABUS COURSE: Auditing and Assurance Principles

College of Business and Accountancy
DATE OF EFFECTIVITY: 01June 2018 COURSE CODE: BAUDPRIX Learning Resource Center
Faculty

VISION CORE VALUES

We are National University, a dynamic private institution committed to nation building, 1.Integrity 2. Compassion 3. Innovation 4. Industry 5. Respect 6. Resilience 7. Patriotism
recognized internationally in teaching and research.
GRADUATE ATTRIBUTES INTENDED FOR
INSTITUTIONAL LEARNING OUTCOMES (ILOs)
MISSION NATIONALIANS (GAINs)
Guided by the core values and characterized by our cultural heritage of Dynamic Filipinism, a. Exhibit the capacity for self-reflection
National University is committed to providing relevant, innovative, and accessible quality 1. Conscientious and Reflective Leader b. Exhibit the willingness to engage in self-appraisal
education and other development programs. c. Apply moral and ethical standards in leading others
We are committed to our: 2. ICT Literate and Competent d. Express ideas effectively
Communicator e. Effectively use various ICT tools to convey ideas
STUDENTS, by molding them into ethical, spiritual and responsible citizens.
3. Socially and Community-engaged Citizen f. Participate actively in community-oriented advocacies that
FACULTY and EMPLOYEES, by enhancing their competencies, cultivating their Imbued with the Spirit of Patriotism contribute to nation building
commitment and providing a just and fulfilling work environment. g. Produce alternative solutions, processes, and approaches
ALUMNI, by instilling in them a sense of pride, commitment, and loyalty to their alma mater. h. Apply problem-solving skills
4. Innovative, Creative, and Critical Thinker
INDUSTRY PARTNERS and EMPLOYERS, by providing them Nationalians who will i. Provide solutions to challenges in respective areas of
contribute to their growth and development. specialization
5. Interculturally Competent Collaborator j. Work effectively in teams of different cultures
COMMUNITY, by contributing to the improvement of life’s conditions.
6. Life- and career-skilled Individual k. Engage in continuing personal and professional development

Program Learning Outcomes (PLO) for Bachelor of Science in Accountancy and Bachelor of Science in ILO
Accounting Information System a b c D e F g h i J K
1. Student will develop an understanding of Audits and how it is done in the corporate setting    
2. Student will develop communication skills and teamwork needed in conducting audits   
3. Student will develop an appreciation f or the practice of public accounting and other services provided by their
 
prof ession
4. Student will be able to apply their knowledge of other accounting principles in conducting audits  
5. Student will be equipped to understand the use technology in use of Auditing and Gathering data    
6. Student will be exposed to activities that help them work in group s as well as developing their own prof essional

judgement

COURSE CODE/NAME: BAUDPRIX -Auditing and Assurance Principles effective : June 2020 Prepared by: Limheya Lester Glenn R.
Page 1 of 10
COURSE DESCRIPTION

This course deals with the f undamentals of Auditing and Assurance Services, the Prof essional Practice of CPAs Code of Ethics RA 9298, and their responsibilities
towards the public. This will also go in detail in the application on what the learners have went though f rom Intermediate Accounting 1 to 3 and apply them in unique
scenarios mirroring that of an actual setting. The learners will also be given an understanding of the Audit Process, f rom deciding whether to accept or reject the client,
to evaluating the internal controls, to gathering and evaluating evidence and f inally giving their opinion through an Audit Report based on the f airness of the f inancial
statements audited.. The learners will f inish the course with a newf ound appreciation on their chosen Prof ession as well as the an idea on the dif f erent types of activities
they can provide in the f uture.

++PRE-REQUISITE(S)
BAFACR4X- Intermediate Accounting 3

COURSE LEARNING OUTCOMES (CLO)

PLO (BSA and BSAIS)

At the end of the course, the student must be able to (CLO):
1 2 3 4 5 6
1. CLO1 –Understand the environment of auditing in the corporate setting ;    
2. CLO2 – Understand, describe, and apply the principles and standards underlying the audit process whilst applying
  
prof essional skepticism and judgement in their decision making
3. CLO3 – Understand, and Distinguish the dif f erences of being an Accountant and an Auditor   
4. CLO4 – Understand, the Accounting Act of 2004 or R.A 9298   

CREDIT
3 Units

TIME ALLOTMENT
4 hours lecture every week

COURSE CODE/NAME: BAUDPRIX -Auditing and Assurance Principles effective : June 2020 Prepared by: Limheya Lester Glenn R.
Page 2 of 10
COURSE REQUIREMENTS
QUIZZES (40%) CLASS STANDING (10%) PERIODIC DEPARTMENTAL EXAMINATIONS (50%)
- Minimum of 4 major quizzes per grading period 1. Recitation
2. Others: - Midterm Departmental Examination
Midterm: Finals: i. Seatwork - Final Departmental Examination
Quiz No. 1 Quiz No. 5 ii. Attendance
Quiz No. 2 Quiz No. 6 iii. Board work
Quiz No. 3 Quiz No. 7 iv. Portfolio of Activities
Quiz No. 4 Quiz No. 8

CLASS POLICIES
1. Students are required to wear the prescribed unif orm inside the school premises f rom Mondays through Fridays except Wednesdays. Wednesdays, Saturdays and
Sundays are washdays wherein students must wear dresses allowed and/or specif ically instructed by the College Dean.
2. Students are required to always wear their school ID and assigned school ID lace inside the school premises.
3. Students must attend at least 80% of the total credit hours of the subject to be considered enrolled
4. Cellular phones and other electronic communication devices are to be switched of f or kept in silent mode during the class hours.
5. A student who f ails to take any of the two major examinations may apply f or a special examination upon establishing to the sa tisf action of the College Dean, through
supporting documents an incapacitating physical or mental condition, the death or serious illness of an immediate f amily memb er, or other exigencies.
6. Cheating in any f orm bef ore or during an examination, test or written reports is prohibited.

GRADING SYSTEM
MIDTERM GRADE COMPUTATION: TENTATIVE FINAL GRADE COMPUTATION: FINAL GRADE:
Quizzes 40% Quizzes 40%
Class standing 10% Class standing Midterm Grade = 40%
Attendance Attendance Tentative Finals Grade = 60%
Assignments Assignments Final Grade = 100%
Seatwork / Boardwork Seatwork / Boardwork 10%
Periodic Examination 50% Periodic examination 50%
Midterm Grade 100% Tentative Final Grade 100%

COURSE CODE/NAME: BAUDPRIX -Auditing and Assurance Principles effective : June 2020 Prepared by: Limheya Lester Glenn R.
Page 3 of 10
COURSE CONTENTS

COURSE
TOPIC LEARNING
WEEK LEARNING TOPICS METHODOLOGY RESOURCES ASSESSMENT
OUTCOMES OUTCOMES
1 CLO1 At the end of the session, the learners will be Goal Setting and Proper Planning » Discussion » Syllabus
CLO3 able to: - University and College » University
CLO4 1. Oriented to the school policies and the vision and mission Manual and
course. - Classroom policies Handbook
2. Explain institutional philosophies, values - Goal setting and course
and policies, examine the goal setting planning
created in the light of undertakings in this
course, and apply the institutional values
in the life–long pursuit of the professional
career.

1. Understand and Explain the Nature Topic 1: Fundamentals of Audit

Scope and Objective of Assurance and Assurance Services » Lecture » Syllabus Formative
Engagements 1. Assurance Engagements: » Discussion » Textbook Assessment:
2. Understand and Distinguish the Nature, Scope and » Video Lecture » LCD Projector » Assignment
dif f erence between Assurance and Objective » Hand-outs » Seatwork
Non-Assurance Engagements 2. Other Assurance Services » Recitation
3. Understand and identif y the key 3. Non-Assurance Services
elements that make up an A. Agreed Upon
Assurance Service Procedures Summative
B. Compilation Assessment:
C. Other Non-Assurance » Pencil – Paper
Services test (Quiz &
4. Elements of an Assurance Midterm
Service Examination)

2 CLO1 At the end of the session, the learners will be Topic 2: Introduction to Audit
CLO2 able to: 1. Nature, Purpose and » Lecture » Syllabus Formative
Scopes of Audit » Discussion » Textbook Assessment:
2. The Need for External » Video Lecture » LCD Projector » Assignment
1. Understand, and explain the Nature,
Audits Additional Hand » Seatwork
Purpose and Scope of Audits
3. Major Types of Audits – out Materials » Recitation
2. Understand and Explain the need of a. Financial Statement
External Audits in the Corporate Audit
World b. Operation Audit Summative
3. Understand and Enumerate the c. Compliance Audit Assessment:
dif f erent Major Types of Audits d. Other Audits » Pencil – Paper
test (Quiz &

COURSE CODE/NAME: BAUDPRIX -Auditing and Assurance Principles effective : June 2020 Prepared by: Limheya Lester Glenn R.
Page 4 of 10
 COURSE
TOPIC LEARNING
WEEK LEARNING TOPICS METHODOLOGY RESOURCES ASSESSMENT
OUTCOMES OUTCOMES
4. Understand and Enumerate the Midterm
dif f erent types of Auditors 4. Different types of Auditors Examination)

2 CLO1 At the end of the session, the learners will be Topic 3: The Professional
CLO2 able to: Standards » Lecture » Syllabus Formative
CLO3 1. Generally Accepted » Demonstration » Textbook Assessment:
Auditing Standards » » PSAs » Assignment
CLO4 1. Understand and Explain the Generally
2. Philippine Standards in » Video Lecture » LCD Projector » Seatwork
Accepted Auditing Standards Auditing Additional Hand – » Recitation
2. Understand and Navigate the Use of 3. Quality Control System out Materials
the Philippine Standards of Auditing
3. Understand the dif f erent Quality Summative
Control measures needed in audit f irm Assessment:
level. » Pencil – Paper
test (Quiz &
Midterm
Examination)

3 CLO1 At the end of the session, the learners will be Topic 4: CPA’s Professional
CLO2 able to: Responsibilities » Lecture » Syllabus Formative
CLO3 1. Def ine the Auditor’s Responsibility 1. Auditor’s Legal Liabilities » Demonstration » Textbook Assessment:
2. Consideration for Fraud » » LCD Projector » Assignment
and Liabilities in conducting an Audit
within the Client’s Additional Hand » Seatwork
2. Understand the Ef f ects of Fraud in
Organization – out Materials » Recitation
the Financial statements 3. Consideration for Errors in
3. Understand the Ef f ects of Errors in the Clients Preparation of
the Financial Statement Financial Statements Summative
4. Understand the Ef f ects of Non- 4. Consideration for Assessment:
Compliance in the Financial Compliance to » Pencil – Paper
Statement Government Regulations test (Quiz &
5. Know the dif f erent indicators of Fraud and its impact to their Midterm
Financial Statement Examination)
within the organization “Risk Factors”
5. Communication of matters
6. Know the best way to minimize Legal
to those Charged with
Liability towards the Client and Governance
Stakeholders 6. Minimizing Exposure to
Legal Liability

3 CLO1 At the end of the session, the learners will be Topic 5: Framework of Financial
to CLO2 able to: Statement Audits » Lecture » Syllabus Formative
4 CLO3 1. Purpose of Audit » Demonstration » Textbook Assessment:
Planning (PSA 300) » » PSA » Assignment
» PAPS » Seatwork

COURSE CODE/NAME: BAUDPRIX -Auditing and Assurance Principles effective : June 2020 Prepared by: Limheya Lester Glenn R.
Page 5 of 10
 COURSE
TOPIC LEARNING
WEEK LEARNING TOPICS METHODOLOGY RESOURCES ASSESSMENT
OUTCOMES OUTCOMES
1. Understand the overview of the Audit 2. Understanding the » LCD Projector » Recitation
Process Client (PSA 310) Additional Hand –
2. Understand and Explain the purpose 3. Understanding the out Materials
Client’s Internal Summative
of every step in the Financial Audit
Control System (PSA Assessment:
Framework
400) » Pencil – Paper
3. Understand the necessity of every 4. Assessment of Risk test (Quiz &
step in completing the audit and Materiality (PSA Midterm
4. Know the dif f erent types of Audit 320) Examination)
Procedures done throughout the 5. Application of
Audit Analytical Procedures
5. Know the ef f ects of the client’s (PSA 520)
internal control to the success of the 6. Other Critical Matters
in Engagement
Audit
Planning and
6. Know whether the Client has the
Assessment of Client’s
ability to continue as going concern ability to continue as a
7. Identif y the dif f erent transaction going concern (PSA
whether they are considered to 570)
Related Parties under PSA 550 7. Identification of
8. Appreciate the other special Related Parties (PSA
considerations done during the audit 550)
in relation to small entities 8. Special Consideration
in the audit of small
(PAPS1005) and Environmental
entities (PAPS 1005)
Matters (PAPS1010) 9. Consideration of
Environmental Matters
(PAPS 1010)
10. Risk Based Approach
5 CLO1 At the end of the session, the learners will be Topic 6: Audit Planning
CLO2 able to: 1. Understanding the Client’s » Lecture » Syllabus Formative
CLO3 business and Industry » Demonstration » PSA, PAPS Assessment:
2. Materiality » Handouts » Textbook » Assignment
1. Understand the importance of
3. Audit Risk » Text » LCD Projector » Seatwork
Understanding the Client’s Business 4. Analytical Procedures Additional Hand » Recitation
and Industry bef ore conducting the 5. Planning Documentation – out Materials
audit 6. Audit Documentation
2. Know the proper level of Materiality to (PSA230) Summative
be set up f or the Audit Engagement Assessment:
3. Apply Analytical Procedures in the » Pencil – Paper
conduct of Financial Statement test (Quiz &
Audits Midterm
Examination)

COURSE CODE/NAME: BAUDPRIX -Auditing and Assurance Principles effective : June 2020 Prepared by: Limheya Lester Glenn R.
Page 6 of 10
 COURSE
TOPIC LEARNING
WEEK LEARNING TOPICS METHODOLOGY RESOURCES ASSESSMENT
OUTCOMES OUTCOMES
4. Know the dif f erent Documentations
that should be kept f or Planning the
Audit
5. Know the dif f erent Documentation
that should be kept during the Audit

6 MIDTERM EXAMINATION

7 CLO1 At the end of the session, the learners will be Topic 7:Consideration of
CLO2 able to: Internal Controls » Lecture » Syllabus Formative
CLO3 1. Nature of Internal » Demonstration » Textbook Assessment:
Control » » PSA, PAPS » Assignment
1. Understand the nature of Internal
2. Components of » LCD Projector » Seatwork
Control System
Internal Control Additional Hand » Recitation
2. Know the dif f erent Components of – out Materials
3. Consideration of
Internal Control Internal Control
3. Assess the design and ef f ectiveness 4. Communication of Summative
of the client’s internal controls Internal Control Assessment:
4. Know who to communicate once Weakness » Pencil – Paper
weakness of internal controls has test (Quiz
been determined &Final
Examination)

CLO1 At the end of the session, the learners will be Topic 8: Gathering and » Lecture » Syllabus Formative
CLO2 able to: Evaluating Evidence » Demonstration » Textbook Assessment:
CLO3 1. Understand the dif ferent types of 1. Audit Procedures (PSA » » PSA, PAPS » Assignment
Audit Procedures 505, 510,) PAPS (1001) » LCD Projector » Seatwork
2. Audit Evidence (PSA500) Additional Hand – » Recitation
2. Understand the purpose of every out Materials
3. Relationships of Evidences
procedure throughout the audit
4. Accounting Estimates
3. Know the relationships of Audit Summative
(PSA540)
8 Evidence Assessment:
5. Evidence for Related Party
4. Know the evaluation of Accounting Transaction (PSA 550) » Pencil – Paper
Estimates as Evidence 6. Documentation of Audit test (Quiz
5. Know evidence that indicate related Working Paper (PSA 230) &Final
Party Transaction 7. Considering the Work of Examination)
6. Understand the proper custody of Internal Auditors
Audit working Papers. 8. Test of Details

CLO1 At the end of the session, the learners will be Topic 9: Audit Sampling » Lecture » Syllabus Formative
CLO2 able to: 1. Purpose of » Demonstration » Textbook Assessment:
9 CLO3 Sampling » » PSA, PAPS » Assignment
CLO4 2. Sampling Risk » LCD Projector » Seatwork
» Recitation

COURSE CODE/NAME: BAUDPRIX -Auditing and Assurance Principles effective : June 2020 Prepared by: Limheya Lester Glenn R.
Page 7 of 10
 COURSE
TOPIC LEARNING
WEEK LEARNING TOPICS METHODOLOGY RESOURCES ASSESSMENT
OUTCOMES OUTCOMES
1. Understand the concept and know 3. Sample Selection Additional Hand –
the Purpose of Sampling during Methods out Materials
Audits 4. Audit Sampling in Summative
Assessment:
2. Understand the concept and know Test of Controls
» Pencil – Paper
the Risk involved during Sampling 5. Audit Sampling in
test (Quiz &
3. Know the dif f erent types of Sample Substantive Test Midterm
Selection Methods 6. Steps in perf orming Examination)
4. Understand the concept and know Audit Sampling
Sampling f or Internal Controls 7. Documentation
5. Understand the concept and know
Sampling f or Substantive Test
6. Enumerate the Fundamental steps in
Audit Sampling
7. Know the Types of Documentations
needed during Sampling
CLO1 At the end of the session, the learners will be Topic 10: Completing the » Lecture » Syllabus Formative
CLO2 able to: Audit » Demonstration » Textbook Assessment:
CLO3 1. Def ine and know the proper 1. Subsequent Events » » PSA, PAPS » Assignment
CLO4 Classif ications of Subsequent Events 2. Litigations, Claims and » LCD Projector » Seatwork
Assessments Additional Hand – » Recitation
3. Management out Materials
2. Understand the Purpose of
Representation Letter
Management Representation Letter Summative
4. Going Concern
5. Wrap-Up Procedures Assessment:
3. Understand the dif ferent Modif ication » Pencil – Paper
of Reports Topic 11: Audit Reports on the test (Quiz
Financial Statement &Final
4. Know how to report an Audited 1. Auditor’s Report on Examination)
11 the financial
Financial Statement (Consolidation)
Statements (PSA 700)
2. Modification of the
Report
5. Know the proper procedure in
3. Report on
gathering evidence about Ligation, Consolidated Financial
Claims and Assessment Statements
4. Comparative Reports
6. Know when the client does not have 5. Special Purpose Audit
the ability to continue as a Going Engagement
Concern

7. Know the dif f erent Types of Auditors

Report

COURSE CODE/NAME: BAUDPRIX -Auditing and Assurance Principles effective : June 2020 Prepared by: Limheya Lester Glenn R.
Page 8 of 10
 COURSE
TOPIC LEARNING
WEEK LEARNING TOPICS METHODOLOGY RESOURCES ASSESSMENT
OUTCOMES OUTCOMES

8. Know Comparative Reports

9. Know the dif ferent Special Purpose

Audit Engagements
CLO1 At the end of the session, the learners will be Topic 12: Assurance Related » Lecture » Syllabus Formative
CLO2 able to: Services » Demonstration » Textbook Assessment:
CLO3 1. Def ine the dif f erent Assurance 1. Review of the Financial » » PSA, PAPS » Assignment
Statements » LCD Projector » Seatwork
CLO4 Related Services CPAs can of fer
Additional Hand – » Recitation
2. Agreed-upon Procedures
Engagement out Materials
2. Understand the distinctions of
providing Assurance Related 3. Compilation of Financial
Summative
Services Statements
Assessment:
4. Assurance Engagements » Pencil – Paper
12 3. Understand the Code of Ethics of the test (Quiz
Topic 13: The Code of Ethics and
Accountancy Prof ession &Final
R.A 9298 Examination)
1. Code of Ethics of
4. Understand R.A 9298 and apply its Professional Accounts
teachings in the Practice of the 2. RA9298 or the Philippine
Prof ession Act of 2004

FINAL EXAMINATION
13

TEXTBOOK
[1] Auditing Theory a Guide to understanding the PSA- Jekell G. Salosagcol CPA, Micheal T. Tiu CPA, & Roel E. Hermosilla CPA
[2] Auditing Theory Assurance Principles Ethics and Good Governance- Raquel Monte- Galanza BSC, CPA, MBA
[3] Auditing: A Risk-Based Approach- Leomar R. Cabarles, Raynaldo Ocampo, Rommel M.Valdez

REQUIRED RESOURCES
[4] Auditing Theory a Guide in Understanding the PSA- Jekell G. Salosagcol CPA, Micheal T. Tiu CPA & Roel E. Hermosilla CPA.

RECOMMENDEDRESOURCES
[5] Aasc.org.ph

COURSE CODE/NAME: BAUDPRIX -Auditing and Assurance Principles effective : June 2020 Prepared by: Limheya Lester Glenn R.
Page 9 of 10
 [6] Sec.gov.ph.

[7] prc.gov.ph
[6] picpa.com.ph

PREPARED BY: REVIEWED BY: NOTED BY: APPROVED BY:

Limheya Lester Glenn R. CPA Sambillo Janus CPA, MBA JEOJILYN G. NABOR, MLIS, RL MA. TERESA V. GONZALES, CPA, CAT, PhD
Faculty, College of Business and Accountancy Chair, Accountancy – CBA Senior Director, Learning Resource Center Dean, College of Business and Accountancy

COURSE CODE/NAME: BAUDPRIX -Auditing and Assurance Principles effective : June 2020 Prepared by: Limheya Lester Glenn R.
Page 10 of 10