SCHOOL OF BUSINESS AND COMPUTER STUDIES

Vision: A community of dynamic and proactive Scholars and Learners within the Asia-Pacific Region, upholding the highest
standards of excellence in education, research, and community service towards the attainment of a better quality of life.
Mission: To purposively link quality education, training and research with community service in pursuing the holistic development of
individuals through innovative programs and productive activities attuned to the needs of the global community.
Goals: St. Dominic College of Asia aims to:
Prepare the students to become competent, productive, and socially responsible professional.
Actively promote research and the utilization of new technology for the enhancement of individual competencies.
Assume leadership role in addressing the concerns of the academic community towards improving their quality of life.
CORE VALUES:

S- SERVICE

D- DYNAMISM

C- COMPETENCE

A- ACCOUNTABILITY

SDCA QUALITY OF LIFE FORMULA

1. Research & Product Development: Research & Product Development: Demonstrate ability to develop researches and to
produce scientific and entrepreneurial outputs.
2. Moral and Spiritual Accountability: Embrace moral/ spiritual values in living ones life. Apply moral/ spiritual practices in all
aspects of life.
3. Multicultural Advocacy: Demonstrate knowledge of values and beliefs of various cultures; effectively engage in a multicultural
society; interact with others; develop a global perspective.
4. Understanding the Discipline: Demonstrate a systematic and coherent understanding of an academic field of study.
5. Self- Directed Learning: work independently; identify appropriate resource; take initiative; take a lead in managing a project or
an activity through completion.
6. Information and Technology Literacy: Access, evaluate, use variety of relevant sources and produce materials of the same.
7. Critical Thinking: Identify relevant assumptions or implication; evaluate arguments; apply analytic thought to analyze coherent
arguments.

Revised as of May 20,

2015

ACC 411 ASSURANCE PRINCIPLES, PROFESSIONAL ETHICS AND GOOD GOVERNANCE

PAGE 1 OF 9

8. Communication Skills: Express ideas clearly in unity; speak articulately; use media as appropriate in order to communicate
effectively.
9. Creativity and Innovation: Demonstrate ability to work creatively and innovatively in any setting that result in a productive
output.
10. Collaboration and Community Engagement: Demonstrate responsible participation; engage in meaningful activities in the
academe, in the community, and beyond.
PROGRAM EDUCATIONAL OBJECTIVES (PEO): B.S. ACCOUNTANCY
Upon graduation, successful graduates of the BSA program will attain the following program outcomes:
1. Have acquired and developed professional competence required in local and off-shore training and development as staff
or supervisor in accounting, auditing, consulting, tax and other related works both in local and international industry.
2. Have engaged in the practice of the accountancy profession in any of the four sectors: education, public practice,
government and commerce and industry.
3. Conducted himself in a respectable manner that upholds the honor, dignity and integrity of accountancy profession by
adhering to the code of professional ethics.
4. Have actively involved/active involvement in community service towards the improvement and development of the
society.
PROGRAM OUTCOMES:
After finishing the program, the student shall have acquired and develop the following:
1. Demonstrate readiness to take and pass the CPA Licensure Examination
2. Apply organizational and business knowledge in the performance of their job assignments
3. Apply critical thinking skills in problem solving and decision- making
4. Work in groups and become an effective team player
5. Recognize the need for personal and professional development
6. Design, implement and/or evaluate a computer-based accounting system

Revised as of May 20,

2015

ACC 411 ASSURANCE PRINCIPLES, PROFESSIONAL ETHICS AND GOOD GOVERNANCE

PAGE 2 OF 9

7. Demonstrate proficiency in the international financial reporting, auditing standards and management accounting
8. Communicate effectively both oral and written form
9. Conduct and apply feasibility study and research
10. Demonstrate integrity and objectivity in the performance of duty.
11. Conduct environmental scanning in investigating the needs of a community
12. Participate in community extension programs

Revised as of May 20,

2015

ACC 411 ASSURANCE PRINCIPLES, PROFESSIONAL ETHICS AND GOOD GOVERNANCE

PAGE 3 OF 9

Course Code
Course Name
No. of Units
No. Of Hours (Lecture)
Pre- requisite

:
:
:
:
:

ACC 411
Assurance Principles, Professional Ethics and Good Governance
Six (6) Units
Six (6) Units
Financial Accounting & Reporting, Part III (ACC 322)

COURSE DESCRIPTION :
This course is designed to expose students both to the demand for and supply of the professions flagship service financial
statement audits and to the nature of the value-added assurance services which decision makers demand in the information age.
Topics include: nature of the accounting profession, auditing and assurance fundamentals: relationship among assurance, attestation,
and audit services; consulting vs. assurance services; types of attestation services ( agreed-upon procedures engagement and review
engagement); types of audits (internal, external or financial statement audits, government audit and special-purpose audits);
relationship of accounting and auditing; other services (operational audits, compliance audits, and non-attest services); professional
standards: assurance standards and attestation and auditing standards; public sector regulation of accounting practice and legal
liability; the framework of financial statements auditing: risk-based approach as audit methodology; audit evaluation and planning,
including the concept of risk and materiality; assessing internal controls, and test of controls including internal controls in computerbased business systems; performance of an audit: evidence collection, analysis, and substantive tests; reporting: reports on assurance
services, attestation services, and financial statement audits; and completing the audit including communications with board of
directors and management concerning internal control weaknesses. Also discussed in detail are the basic professional values and the
Code of Ethics for Professional Accountants and SECs Code of Corporate Governance.
COURSE LEARNING OBJECTIVES
At the end of the semester, the students must have:
1. Learn the role of the professional accountant in the economy and know the competency requirements for professional
accountants.
2. Understand the concept and objective of auditing and the different types of audit.
3. Know the law governing the practice of accountancy in the Philippines
4. Comprehend the basis and the need for professional ethics.

Revised as of May 20,

2015

ACC 411 ASSURANCE PRINCIPLES, PROFESSIONAL ETHICS AND GOOD GOVERNANCE

PAGE 4 OF 9

5. Be familiar with Philippine Standards on Auditing (PSA), PSQC,PAPSs, PSREs, PSAEs, PSRSs currently effective in the
Philippines
RELATIONSHIPS OF PROGRAM EDUCATIONAL OBJECTIVES, COURSE LEARNING OBJECTIVES, PROGRAM
OUTCOMES AND SDCA GOALS
COURSE
LEARNING
OBJECTIV
ES

B.S. ACCOUNTANCY PEO

1.

2.

3.

4.

PROGRAM OUTCOMES

SDCA GOALS

Have acquired and developed professional competence

required in local and off-shore training and
development as staff or supervisor in accounting,
auditing, consulting, tax and other related works both
in local and international industry.
Have engaged in the practice of the accountancy
profession in any of the four sectors: education,
public practice, government and commerce and
industry,
Conducted himself in a respectable manner that
upholds the honor, dignity and integrity of
accountancy profession by adhering to the code of
professional ethics,
Have actively involved/active involvement in
community service towards the improvement and
development of the society.

Revised as of May 20,

2015

ACC 411 ASSURANCE PRINCIPLES, PROFESSIONAL ETHICS AND GOOD GOVERNANCE

PAGE 5 OF 9

CONTENT OUTLINE
NUMBER OF
WEEKS
WEEK 1

WEEK 2

WEEK 3

WEEK 4

WEEK 5

Revised as of May 20,

2015

Course Content/Subject Matter

Overview of the Course
Universe of CPA services
1. Assurance Engagements
2. Non- Assurance Engagements
3. Elements of an Assurance Engagement
Introduction to Auditing
1. The nature, purpose and scope of an audit
2. Types of Audit
3. Types of Auditor
4. General Types of Audit
The Professional Practice of Accounting
1. Nature of Accounting Profession
2. Standard-setting and Regulation in
Accounting practice
3. Public Accounting profession
4. Management of Public Accounting Practice
The CPAs Professional Responsibilities
1. Philippine Standards on Auditing
2. Code of Ethics
3. SEC Code of Good Governance
The Framework of Financial Statements Audit
1. Audit Planning, Supervision and Monitoring
1.1.1. Scope and Purposes of Audit Planning
1.1.2. Audit Planning Considerations
1.1.3. Planning the Audit Work and Repeat
Engagement
1.1.4. Supervising and Monitoring the
Engagement

ACC 411 ASSURANCE PRINCIPLES, PROFESSIONAL ETHICS AND GOOD GOVERNANCE

PAGE 6 OF 9

WEEK 6
WEEK 7
WEEK 8
WEEK 9
WEEK 10
WEEK 11
WEEK 12
WEEK 13
WEEK 14
WEEK 15
WEEK 16
WEEK 17
WEEK 18

PRELIMINARY EXAMINATION
A Risk- Based Audit Approach Part 1
A RISK- BASED AUDIT APPROACH PART 2
Gathering and Evaluating of Audit Evidence
Study and Internal Control
Audit Sampling
MIDTERM EXAMINATION
Auditing in Computerized Information Systems
Environment
Audit Program Applications
Completing the Audit/ Post Audit Responsibilities
Reports on Audited Financial Statements
Nonaudit Engagements: Procedures and Reports
FINAL EXAMINATION

Textbook:
1. Cabrera, Ma. Elenita B., BBA,MBA,CPA, CMA Public Accountancy Profession 2013
References:
Philippine Standards on Auditing
Salosagcol, Jekell. Et.al.
Multimedia / Online References:
WWW. IASPLUS.COM

Course Requirements
1. PERIODIC EXAMINATIONS: (PRELIMINARY, MIDTERM, AND FINAL)
2. CLASS STANDING
1.1.1. Seatwork
1.1.2. Recitation
1.1.3. Assignment
1.1.4. Quizzes/ Long Test
Revised as of May 20,
2015

ACC 411 ASSURANCE PRINCIPLES, PROFESSIONAL ETHICS AND GOOD GOVERNANCE

PAGE 7 OF 9

1.1.5. OBE Related Output ( Portfolio of major activities in Number Theory)

Grading System
For a student to pass the course, one should get a grade of 82% in his/her final grade, which is computed from the following:
A. TERM GRADE
Class Standing
Recitation /Assignments/
Seatwork
Quizzes/ Long Test
Oral Presentation of Paper/
Projects/ OBE Related Output
Periodic Examination

60%
20%
20%
20%
40%

100%
B. SEMESTRAL GRADE
The Semestral Grade is obtained by getting the sum of the 33% of the Prelim Grade (PG), 33% of Midterm Grade (MG),
and 34% of the Final Grade (FG) for the course.
SG = (PG x 0.33) + (MG x 0.33) + (FG x 0.34)
Classroom Policies
1. All students are expected to attend their class regularly to be entitled to credit units in the course in which they enrolled.
Tardiness of more than 30 minutes is considered as absent. Three unexcused absences are considered failure in the subject or
an absence equivalent to 20% of the required hours of attendance, shall be reported/referred to the Program Chair, who shall
determine whether or not the student should be given a failing grade and given no credit for the course or subject, for reasons
considered valid and acceptable to the school. In a case the student is allowed to continue, he shall be held responsible in
keeping up with lessons and assignments and taking examinations when applicable. Excused absences (with medical certificate
/ prior approval) entitle a student for special quizzes and special exams for missed class.
2. Student should be in prescribed uniform. Where civilian or alternative clothing is applied, permission must be sought from the
DSAS.
3. Electronic gadgets or materials (cellphone, MP3, laptops, etc.) not related to learning and without prior approval from
instructors are not allowed to be used while in class.

Revised as of May 20,

2015

ACC 411 ASSURANCE PRINCIPLES, PROFESSIONAL ETHICS AND GOOD GOVERNANCE

PAGE 8 OF 9

4. Students should help in the maintenance of cleanliness and orderliness inside the classroom.
PREPARED BY:

ENDORSED BY:

APPROVED BY:

NOEL A. SERGIO, DBA

DR. NILDA W. BALSICAS

DEAN

VICE PRESIDENT FOR ACADEMICS

AND RESEARCH

MILDRED ANN E. LADAO, CPA

FACULTY MEMBER
REFERENCES REVIEWED BY:

Ms. LAILA ARIATE,MLIS

LIBRARIAN, SDCA
REVIEWED BY:

DR. ALICIA G. BANAS

PROGRAM CHAIR

Revised as of May 20,

2015

ACC 411 ASSURANCE PRINCIPLES, PROFESSIONAL ETHICS AND GOOD GOVERNANCE

PAGE 9 OF 9