ANDRES BONIFACIO COLLEGE

College Park, Dipolog City

www.abcollege.edu.ph

PRE 315 – Auditing and Assurance: Concepts and Application I

Course Title
Institutional Philosophy: ABC anchors on the values of Integrity, Industry, and Intelligence. The 3Is are the coat of arms of the Institution in its
performance toward its vision, mission and goals. Integrity is firm adherence to a code of moral and ethical principles: soundness of moral character,
honest and fair. Industry is dedication/ attitude to work hard to support the attainment of vision. All faculty members/teachers and employees should
possess the value of industry for efficiency and effectiveness in the delivery of services. Students develop love of work. Intelligence is a value which
when coupled with industry and integrity could be effective in the fulfillment of the service for the desired outcomes.

Institutional Vision: A center of excellence in instruction, research, technology, extension, athletics and the arts.

Institutional Mission: We commit to provide affordable quality education with values in industry, intelligence and integrity and undertake relevant
research and socially responsive community service using innovative technologies.

Institutional Program Goals:

1. Produce wee-rounded, competent, and competitive graduates.
2. Strengthen the quality of faculty.
3. Standardized Quality Management System.
4. Improve graduate, undergraduate and high school programs by applying relevant technologies.
5. Foster partnerships and linkages with relevant industries, agencies, academic institutions and the community.
6. Undertake applicable research and extension program.
7. Develop and enhance skills in sports and arts.

Departmental Vision: The School of Business Management Education is committed to turn out professional graduates who are equipped with stock
knowledge of the business and management courses; have sufficient exposure to real work environment; are skilled for entrepreneurial and/or
corporate employment; and have acquired the ethical values and social responsibility.

Pre-requisite: AE 217
Course Credit: 3 Units
Degree: Bachelor of Science in Accountancy

Course Title: Effectivity Date: Date Prepared: Prepared by: Date Modified: Modified by: Noted by: (Dean) Reviewed by: Approved by: Page 1 of ___
PRE 315 July 30, 2020 SENIA B. TUBAT ALEJO F. DR. JULIUS B.
ABULE BERNADETTE O. ELOPRE,
TAN MAGC
 ANDRES BONIFACIO COLLEGE
College Park, Dipolog City
www.abcollege.edu.ph

Program Educational Objectives: The Accountancy Program aims to bring students to the forefront of practice and theory in their selected areas
of study and provides students with a maximum intensity of preparedness for the CPA Board Examination and in the business world. The program
is appropriate for students wishing to pursue their professional careers in business, consultancy, management and research work.

Program Outcomes: : A graduate of BS in Accountancy should be able to:

1. Resolve business issues and problems, with a global and strategic perspective using knowledge and technical proficiency in
the areas of financial accounting and reporting, cost accounting and management, accounting and control, taxation, and
accounting information system;
2. Conduct accountancy research through independent studies of relevant literature and appropriate use of accounting theory
and methodologies;
3. Employ technology as a business toll in capturing financial and non-financial information, generating reports and making
decisions;
4. Apply knowledge and skills to successfully respond to various types of assessments; and (including professional licensure
and certifications); and
5. Confidently maintain a commitment to good corporate citizenship, social responsibility and ethical practice in performing
functions as an accountant.

Course Description: This course covers detailed approaches to problems and situations normally encountered in the independent examination of
financial statement line items, applying the transaction cycle audit. Audit objectives are identified, and internal control is evaluated so that the
auditor could formulate and apply audit procedures to each of the major accounts in the financial statements relating to the expenditure cycles,
revenue and collection cycles, and conversion cycles.

Course Requirements:
1. Cut-off grade of 2.25 for Accountancy Students; major examinations (Prelim, Mid-term, Departmental); Quizzes, Chapter
Examination; Oral Examinations and Attendance.
2. Grading System
 Prelim/Midterm/Final Exam 33.3%
 Quizzes 33.3%
 Group or individual paper, presentation, portfolio 33.4%
Course Outcome: At the end of the semester, the students can:

Course Title: Effectivity Date: Date Prepared: Prepared by: Date Modified: Modified by: Noted by: (Dean) Reviewed by: Approved by: Page 1 of ___
PRE 315 July 30, 2020 SENIA B. TUBAT ALEJO F. DR. JULIUS B.
ABULE BERNADETTE O. ELOPRE,
TAN MAGC
 ANDRES BONIFACIO COLLEGE
College Park, Dipolog City
www.abcollege.edu.ph

Identify and perform the appropriate audit procedures, prepare audit adjustments and complete working papers relating to the
audit of cash balance, expenditure cycles, revenue and collection cycles and conversion cycles, to serve as bases for the
preparation of audit reports.

Course Policy: (attendance, class participation, group reporting/presentation, quizzes, major examinations)

Learning Plan
Specific Teaching/ Learning Reference/
Outcome Objectives/ Content/ Topics Values Activities Time Allotment Evaluation Tool Resources
Competencies Integrated (Blended Learning
System)
Students can: Students must be
able:

Learn the nature 1.1Describe the 1.Overview Of Students are Power Point 18 hrs. Major Cabrera, Ma.
of auditing, the nature of the Risk-Based exposed to Presentations Examination Elenita B.,
objectives of the auditing. Audit Process different Applied
Independent 1.2Describe the ethical Quizzes Auditing, 2014
Printed
Auditor, and objectives of the standards in Ed, 2014,
modules/handout
conduct of an Independent performing all Oral Manila,
s
audit in Auditor and accounting Examination Phillipines: GIC
accordance with conduct of an and reporting Enterprises &
Philippine audit in works. Face-to-Face Attendance Co., Inc.
Standards on accordance with
Auditing (PSA). PSA.
1.3Distinguish
between the risk-
based audit
process and the
accounts-based
audit process.

Course Title: Effectivity Date: Date Prepared: Prepared by: Date Modified: Modified by: Noted by: (Dean) Reviewed by: Approved by: Page 1 of ___
PRE 315 July 30, 2020 SENIA B. TUBAT ALEJO F. DR. JULIUS B.
ABULE BERNADETTE O. ELOPRE,
TAN MAGC
 ANDRES BONIFACIO COLLEGE
College Park, Dipolog City
www.abcollege.edu.ph

Understand 2.1Explain the 2.Phase I – Risk

Audit Planning, nature, scope Assessment:
audit strategy, and benefits of Planning the
and the factors audit planning. Audit (cont’d)
to be 2.2Know the and
considered in benefits and Performance of
establishing the steps in Risk
scope of audit. establishing an Assessment
audit strategy. Procedures
2.3Explain the
other critical
matters in
engagement
planning.

Have gained 3.1Describe the 3.Phase1-Risk

adequate concept of Assessment:
knowledge on materiality as Planning the
the concept of applied to audit. audit (cont’d)
materiality. 3.2Enumerate and
the activities Performance of
involved in the Risk
Performance Assessment
Risk Procedures
Assessment
Procedures.

Learn the steps 4.1Enumerate 4.Phase II-Risk

involved in Risk and describe the Response:
Response steps involved in Designing
Phase. Risk Response Overall
Phase. Responses and
4.2Know the Further Audit
Course Title: Effectivity Date: Date Prepared: Prepared by: Date Modified: Modified by: Noted by: (Dean) Reviewed by: Approved by: Page 1 of ___
PRE 315 July 30, 2020 SENIA B. TUBAT ALEJO F. DR. JULIUS B.
ABULE BERNADETTE O. ELOPRE,
TAN MAGC
 ANDRES BONIFACIO COLLEGE
College Park, Dipolog City
www.abcollege.edu.ph

types of audit Procedures

responses.

Comprehend 5.1Describe the 5.Audit of the

the nature of the nature of the Revenue and
audit of revenue revenue and Collection
and collection collection cycle. Cycle: Tests of
cycle. 5.2Identify the Controls and
documents and Substantive
accounting Tests of
records used in Transactions
the revenue and
collection cycle.
Comprehend 6.1Describe the 6.Audit of the Power Point 18 hrs. Major
the nature of nature of the Expenditure Presentations Examination
audit of the expenditure Cycle: Tests of
Expenditure cycle. Controls and Quizzes
Printed
Cycle. 6.2Identify the Substantive
modules/handout
documents and Tests of Oral
s
accounting Transactions-I Examination
records used in
the expenditure Face-to-Face Attendance
cycle.

Gain adequate 7.1Identify the 7.Audit of the

knowledge of documents and Expenditure
controls over accounting Cycle: Tests of
payroll, records used in Controls and
production and production Substantive
inventory activities. Tests of
warehousing Transactions-II
transactions.

Course Title: Effectivity Date: Date Prepared: Prepared by: Date Modified: Modified by: Noted by: (Dean) Reviewed by: Approved by: Page 1 of ___
PRE 315 July 30, 2020 SENIA B. TUBAT ALEJO F. DR. JULIUS B.
ABULE BERNADETTE O. ELOPRE,
TAN MAGC
 ANDRES BONIFACIO COLLEGE
College Park, Dipolog City
www.abcollege.edu.ph

Learn the Describe the

objectives for auditors’
the substantive objectives for the
audit and the substantive audit
appropriate and explain the
audit nature of the
procedures to appropriate audit
accomplish the procedures to
objective for the accomplish the
audit of: objectives for the
audit of:
Cash in Bank & 8.Cash in Bank & 8.Substantive
on Hand Cash on Hand Tests of Cash

Receivables 9.Receivables 9.Substantive

and Sales and Sales Tests of
Receivables
and Sales

Inventories and 10.Inventories 10.Substantive

Cost of Goods and Cost of Tests of
Sold Goods Sold Inventories and
Cost of Goods
Sold

Prepare audit
working papers
to document the
audit procedures.

Course Title: Effectivity Date: Date Prepared: Prepared by: Date Modified: Modified by: Noted by: (Dean) Reviewed by: Approved by: Page 1 of ___
PRE 315 July 30, 2020 SENIA B. TUBAT ALEJO F. DR. JULIUS B.
ABULE BERNADETTE O. ELOPRE,
TAN MAGC
 ANDRES BONIFACIO COLLEGE
College Park, Dipolog City
www.abcollege.edu.ph

Learn the Describe the Power Point 18 hrs. Major

auditors’ auditors’ Presentations Examination
objectives and objectives for the
procedures for substantive audit Quizzes
Printed
the substantive and the nature of
modules/handout
audit of: the audit Oral
s
procedures to Examination
accomplish the
auditor’s Face-to-Face Attendance
objectives of:
Prepaid 11.Prepaid 11.Substantive
expenses and Expenses and Tests of Prepaid
deferred Deferred Expenses and
charges. Charges Deferred
Charges

Accounts in the 12.Accounts in 12.Substantive

Statement of the Statement of Tests of
Profit or Loss Profit or Loss and Accounts in the
and Comprehensive Statement of
Comprehensive Income. Profit or Loss
Income. and
Prepare audit Comprehensive
working papers Income
to document
audit procedures.

Understand the 13.1Discuss how 13.Evaluation of

need to to evaluate audit Audit Evidence
evaluate audit evidence for and Completion
evidence sufficiency and of Audit
Course Title: Effectivity Date: Date Prepared: Prepared by: Date Modified: Modified by: Noted by: (Dean) Reviewed by: Approved by: Page 1 of ___
PRE 315 July 30, 2020 SENIA B. TUBAT ALEJO F. DR. JULIUS B.
ABULE BERNADETTE O. ELOPRE,
TAN MAGC
 ANDRES BONIFACIO COLLEGE
College Park, Dipolog City
www.abcollege.edu.ph

gathered to appropriateness.
support the
conclusions for
the auditors’
report.

Learn the bases 14.1Describe the 14. Forming an

and different types of Opinion and
requirements opinions that may Reporting on
relative to be expressed on Financial
forming an the financial Statements.
opinion on the statements.
financial 14.2Describe the
statements. auditors’ report.

Course Reference: (Please follow APA format.)

Course Title: Effectivity Date: Date Prepared: Prepared by: Date Modified: Modified by: Noted by: (Dean) Reviewed by: Approved by: Page 1 of ___
PRE 315 July 30, 2020 SENIA B. TUBAT ALEJO F. DR. JULIUS B.
ABULE BERNADETTE O. ELOPRE,
TAN MAGC