University of Nueva Caceres

Naga City

COLLEGE OF BUSINESS AND ACCOUNTANCY

​GOVERNANCE, BUSINESS ETHICS,

RISK MANAGEMENT AND INTERNAL
CONTROL

Maria Carla R. Mañago, ​CPA

GOVERNANCE, BUSINESS ETHICS, RISK MANAGEMENT AND INTERNAL CONTROL
By: Maria Carla R. Mañago, CPA,

Copyright © 2021 by​ ​Maria Carla R. Mañago and the ​University of Nueva Caceres

Note that the course pack provided to you in any form, including this Study Guide, is
intended only for YOUR use in connection with the course that you are enrolled in.
LEARNING MATERIALS INCLUDED IN YOUR COURSE PACK ARE NOT FOR
DISTRIBUTION OR SALE. Permission should be obtained from your instructor for any
use other than for what it is intended.

Published in the Philippines by the University of Nueva Caceres

Office of the Vice President for Academic Affairs
JH10, JH Bldg., University of Nueva Caceres,
J. Hernandez Ave. Naga City,
Camarines Sur, Philippines

Printed in the Philippines

First printing, January 2021
 Table of Contents

Module 0 1

Study Guide 1 26

Study Guide 2 28

Study Guide 3 30

Study Guide 4 32
 University of Nueva Caceres
COLLEGE OF BUSINESS AND ACCOUNTANCY
J. Hernandez Avenue, Naga City
Tel. No. +63-054-472-6100 local 115

UNIVERSITY OF NUEVA CACERES

The University of Nueva Caceres, a private non-sectarian institution, is

Bicol’s first university.

VISION Guided by its motto, “Non-Scholae Sed Vitae” (Not of School but of Life), and
STATEMENT attuned to the demands of a highly dynamic global environment, the
University of Nueva Caceres commits itself to quality and excellent education
for all to transform the youth into entrepreneurial, productive, morally
upright, socially responsible professionals for a just, humane and
progressive society.

The University of Nueva Caceres shall be a leading exponent of academic

excellence, research, extension, and innovative technology for sustainable
MISSION development.
STATEMENT
It creates a nurturing academic environment and provides equal
opportunities in the formation of individuals into empowered leaders,
competent professionals and proactive entrepreneurs who are cognizant of
our rich cultural heritage.

1. PURSUE the nurturing and strengthening of social institutions with

empowered leaders, skilled professionals, and proactive
entrepreneurs for the development of the Bicol Region and the
Filipino nation;
UNIVERSITY
2. PRODUCE graduates who entrepreneurial, productive, morally
OBJECTIVES upright, environmentally conscious, globally responsive and socially
responsible citizens;

3. PROPAGATE the culture of excellence through a continual process of

introspection, integration and improvement of programs, facilities
and services;

Governance, Business Ethics, Risk Management and Internal Control

1
 4. PROVIDE the University personnel with the means to enhance their
personal well-being and professional skills to effectively carry out
balanced curricular and development programs.

1. We champion excellence. ​We consistently strive for excellence in

everything we do.
2. We nurture dreams. ​We passionately guide and inspire our students to
leverage their potentials and aspire for better lives.
3. We do the right things right. ​We uphold integrity in everything we do.
CORE We hold ourselves to high standards for accountability and character.
VALUES
We do things right.
4. We are dynamic and creative. ​We anticipate the forces of change. We
explore possibilities with intent and purpose.
5. We respect each other and work as a team. ​We collaboratively
maximize our talents and capabilities. We hold each other in high regard
and passionately realize our shared purpose, priorities and promises.

Ex​ - Excellence Driven

C​ - Culturally- Rooted with Multi-Cultural Understanding

Collaborative

GRADUATES Creative and Critical Thinker

ATTRIBUTES Compleat Leader (Compleat means Accomplished, Masterful, Great)

E​ - Effective Communicator

Ethically and Socially Responsible

L​ - Life-Long Learner

COLLEGE OF BUSINESS AND ACCOUNTANCY

The UNC College of Business and Accountancy envisions its graduates as

VISION leaders and active agents in nation building by entrepreneurship and by
STATEMEN honest, dedicated service in government and private entities, contributing to
T the improvement of the quality of life of the Filipino, and responsive to the
demands of the global business environment.

Governance, Business Ethics, Risk Management and Internal Control

2
 The benefits of quality and excellent business and accountancy education shall
be made accessible to the youth through the provision of rich and diverse
MISSION
curricular programs and alternative learning system that will transform
STATEMEN
individuals into competent professionals, empowered leaders, and proactive
T
managers and entrepreneurs possessing the ideals of competence, integrity,
and moral and social responsibility.

PROGRAM EDUCATIONAL OBJECTIVES

Three to five years after graduation, BSA graduates are expected to:

PEO 1 Adapt to the developments in the Accountancy profession through life-long

learning engagements

Pursue graduate or law studies

Maintain updated CPA license

Acquire Accreditation (BOA, SEC, BIR, CDA etc)

Acquire Professional Certification (CISA, CMA, CIA)

PEO 2 Adhere to the Code of Ethics in the practice of the Accountancy profession

Exercise objectivity, due care and skepticism required of the accountancy

profession.

PEO 3 Contribute to nation-building by assuming leadership responsibilities

Assume supervisory/managerial positions

Lead projects along accounting and its related fields

PROGRAM OUTCOMES
At the time of graduation, the students of the BS Accountancy program should be able to:

General

POa Communicate clearly and effectively with stakeholders both in oral and written
forms.

Governance, Business Ethics, Risk Management and Internal Control

3
POb Work effectively and independently in multi-disciplinary and multi-cultural teams
(PQF level 6 descriptor)

POc Promote “Filipino historical and cultural heritage” (based on RA 7722)

POd Act in recognition of personal and professional development

Technica
l

POe Implement business- related activities by applying the basic functions of

management and basic concepts that underlie in each of the functional areas of
business (marketing, finance, human resource, production/operation)

PO f Resolve business issues and problems, with global perspective and particular
emphasis on matters confronting financial statement preparers and users, using
their knowledge and technical proficiency in the areas of financial accounting, cost
accounting, management accounting, auditing, taxation, business laws, regulatory
framework for business transactions,accounting information systems and other
related areas.

PO g Conduct accounting research, as a tool to critically, analytically and creatively solve

problems and drive results

PO h Employ technology as a business tool in capturing financial and non financial

information, generating reports and making decisions.

PO i Apply knowledge and skills to successfully respond to various types of

assessments (including professional licensure and certifications

PO j Maintain a commitment to good corporate citizenship, social responsibility and

ethical practice in performing function as accountants

COURSE INFORMATION

Program BS Accountancy

Term, School Year 2​nd​ Semester, SY 2020-2021

Course Code AEC225k

Course Title Governance, Business Ethics, Risk Management and Internal Control

Course Description This course is designed to prepare students for a high standard of
responsibility as they enter the corporate world which continues to

Governance, Business Ethics, Risk Management and Internal Control

4
 change in dramatic ways, where demand for competency and
professionalism is always present.

It aims to prepare them to be future business leaders who will play a

central part in the management and resolution of critical issues
involving business and people. They will also be equipped with basic
knowledge and skills to thrive in different situations like economic
volatility and geo-politics, among other timely issues. Topics covered
leadership as it relates to the professional accountant, the recognition
and management of risks, concerning an enterprise, and the application
of internal control concepts and standards so as to contribute to
organizational stability and growth. Topics also include: the Revised
Accountancy Law, the Code of Ethics for Professional Accountants and
SEC’s Code of Corporate Governance.

Course Outcomes At the end of this course, you should be able to:

1. Discuss the principles of corporate governance including the

SEC Code of Corporate Governance; illustrate the application of
the principles of good corporate governance; and decide on
cases involving the provisions of the SEC Code of Corporate
Governance.
2. Differentiate ethical dilemmas and unethical business practices;
illustrate the steps in resolving ethical dilemmas; and apply the
principles on cases that involve ethical dilemmas.
3. Discuss and apply the principles of risk management; and
design recommendations for real-life cases and situations on
risk management.
4. Discuss the elements of internal control, the different kinds of
fraud and error and how they take place; provide instances on
how internal control affects assets, liabilities, and equity; and
assess the existing internal control system of various businesses
and provide recommendations to improve such systems.

Faculty In-Charge Maria Carla R. Mañago

Contact Email:​ [email protected]

Information
​Mobile Phone: ​ 09396981745

Consultation Hours 2:00-3:00 W

outside class hours

Governance, Business Ethics, Risk Management and Internal Control

5
 Granularized Course Outcomes

Intended Teaching and

Course ILO
CO Modules Learning Learning Assessment Feedback
Outcomes Level
Level Outcomes Activities Mechanism
Explain the UNC faculty to
VM and Core conduct course
Values, CBA VM orientation;
I and BSA PEO students to n/a
Explain the
review/reflect
school
on school
philosophies,
philosophies
discuss course Zoom or
Module 0 Discuss the course
requirements Google meet,
Course requirements, Faculty to
and grading I Class GC, FB
Orientati E grading system conduct course n/a
system and Messenger,
on and classroom and orientation
write the E-mail, SMS
school policies
statement of
purpose or Write a statement
of purpose or Students to
commitment
commitment to the participate in the
D essay; rubric
course and BB discussion
program forum

Discuss the Students to read 5-10-item

principles of the assigned pre-test
corporate chapter as
Discuss the pre-class work Recitation/r
governance
principles of
including the SEC esponses to
corporate
Code of Corporate discussion
governance
Governance. Faculty to give a questions in
including the
5-10-item BB and
SEC Code of Study
pre-test during the Zoom or
Corporate Guide 1:
synchronous Google Meet,
Governance; Corporat I session Class GC, FB
illustrate the e
I, E, D Messenger,
application of Governan Students to
e-mail, SMS
the principles ce answer
of good discussion
corporate questions during
governance; synchronous
and decide on sessions and in
cases involving the BB
the provisions discussion forum
of the SEC Code Business Ethics, Risk Management and Internal Control
Governance,

6
of Corporate Illustrate the Students to Responses to
Governance. application of the provide discussion
principles of good examples of best questions in
corporate corporate BB and
governance. governance during the
practices synchronous
session
Students to send
related articles
and/or videos
that show the
E best practices of
corporations
both local and
international in
terms of their
governance

Students to
attend a webinar
on the SEC Code
of Corporate
Governance
Decide on cases Students to be
involving the assigned in
provisions of the groups where
Case study
SEC Code of they will decide
involving
Corporate on actual cases
provisions of
Governance. involving the
the SEC Code
provisions of the
of Corporate
SEC Code of
Governance
Corporate
D Governance
Post-test
about
Students to
Corporate
present their
Governance
output during
and all its
synchronous
related
class
subtopics

Faculty to give
feedback on the

Governance, Business Ethics, Risk Management and Internal Control

7
 output
Differentiate Students to read Recitation/
ethical dilemmas the assigned responses to
and ethical chapter as discussion
business practices pre-class work questions in
BB and
Students to during the
answer synchronous
discussion session
questions during
synchronous Essay on the
sessions and in current
the BB corruption
Differentiate discussion forum statistics and
ethical news in the
dilemmas and Students to Philippine
unethical provide articles setting,
business that show ethical including the
practices; business advocacies Zoom or
Study
illustrate the practices of and Google Meet,
Guide 2:
steps in I entities both initiatives to Class GC, FB
Business
resolving local and foreign mitigate/ Messenger,
I, E, D Ethics
ethical eradicate it e-mail, SMS
dilemmas; and Students to
apply the submit articles
principles on and/or videos
cases that that show
involve ethical unethical
dilemmas. business
practices
employed by
different
companies

Students to
comment on
cases involving
corruption in the
Philippine
setting

Governance, Business Ethics, Risk Management and Internal Control

8
 Illustrate the steps Students to be Responses to
in resolving ethical assigned in discussion
dilemmas. groups where questions in
they will decide BB and
on actual cases during the
involving ethical synchronous
dilemmas session

E Students to
present their
output during
synchronous
class

Faculty to give
feedback on the
output
Apply the Students to be Case study
principles on cases assigned in involving
that involve ethical groups where ethical
dilemmas. they will analyze dilemmas
various risk using
management real-world
situations, and examples
recommend the
proper approach Post-test
to manage the about
D
risks involved Business
Students to Ethics and all
present their its related
output during subtopics
synchronous
class

Faculty to give
feedback on the
output
Discuss the Students to read Recitation/
principles of risk the assigned responses to
Discuss and Study Zoom or
I management. chapter as discussion
apply the Guide 3: Google Meet,
pre-class work questions in
principles of I, E, D Risk Class GC, FB
BB and
risk Managem Messenger,
management; ent Risk Management and Internal Control
Governance, Business Ethics, e-mail, SMS

9
 Students to during the
answer synchronous
discussion session
questions during
synchronous
sessions and in
the BB
discussion forum

Students to
discuss the
principles of risk
management, the
relevant risk
and design terminologies,
recommendati potential
ons for real-life approaches in
cases and managing risks,
situations on and the steps in
risk the risk
management. management
process
Apply the Students to Responses to
principles of risk individually give discussion
management. feedback on risk questions in
management BB and
E situations and during the
apply the synchronous
appropriate risk session
management
approach
Design Students to be Case study
recommendations assigned in involving
for real-life cases groups where Risk
and situations on they will analyze Management
risk management. various risk using
D management real-world
situations, and examples
recommend the
proper approach Post-test
to manage the about risk
risks involved management

Governance, Business Ethics, Risk Management and Internal Control

10
 and all its
Students to related
present their subtopics
output during
synchronous
class

Faculty to give
feedback on the
output
Study Discuss the Students to read 10-15-item
Guide 4: elements of the assigned pre-test
Internal internal control, chapter as
Discuss the
Control the different kinds pre-class work Recitation/
elements of
of fraud and error responses to
internal
and how they take Faculty to give a discussion
control, the
place. 5-10-item questions in
different kinds
pre-test BB and
of fraud and
during the Zoom or
error and how
Students to synchronous Google Meet,
they take place;
answer session Class GC, FB
provide
discussion Messenger,
instances on I
questions during Assignment e-mail, SMS
how internal
synchronous where
control affects
sessions and in students will
assets,
the BB identify the
liabilities, and I, E, D
discussion forum kind of fraud
equity; and
present in
assess the
the case, and
existing
the factor in
internal
the fraud
control system
triangle that
of various
exists in the
businesses and
situation
provide
Illustrate how Students to Assignment
recommendati
internal control answer exercises where
ons to improve
affects assets, where they will students will
such systems.
liabilities, and identify the analyze the
E
equity. specific internal
misstatement controls
that is likely to employed in
be prevented if a given

Governance, Business Ethics, Risk Management and Internal Control

11
 the control situation,
exists, a specific and they will
misstatement identify the
that could result effect of the
in the absence of presence
such control, its and/or
effect on the omission of
company's such internal
assets, liabilities, control in
and equity, and the entity's
the weaknesses assets,
and possible liabilities,
improvements and equity
that can be made
for each internal
control

Assess the existing Students to be Case study

internal control assigned in involving
system of various groups where internal
businesses and they will assess control
provide the existing system of a
recommendations internal control business of
to improve such system of actual the students'
systems. businesses, and choice
recommend
improvements Post-test
that can be made about
D to the existing Internal
controls Control and
all its related
Students to subtopics
present their
output during
synchronous
class

Faculty to give
feedback on the
output

Governance, Business Ethics, Risk Management and Internal Control

12
MODE OF DELIVERY, COMMUNICATION SYSTEM AND OTHER SUPPORT SYSTEM
This RED Learning Kit is to be delivered on a printed modular modality. This is the modality
that students may choose if they are facing either a zero internet connectivity at home, or an
unstable internet connectivity. If you have chosen this modality, you are in self-study
mode​. You are expected to ​follow the ​study guide for this course. A ​minimum of 6 hours
per week​ is required for you to work for this course or a total of 54 hours in 9 weeks.

You are expected to submit the requirements as due for better navigation of the course. For
writing and presentation requirements, you are expected to avail of grammar and spelling
checker.

Consultation with your teacher should be at ​least once a week observing the ​class hours
using these channels;
Email – [email protected]
FB messenger account – Carla Mañago

2021 AEC 225k-LPa Governance, Business Ethics, Risk Management and Internal
Control 2 SY 2020-21

2022 AEC 225k- LPb Governance, Business Ethics, Risk Management and Internal
Control 2 SY 2020-21

Collaboration with group mates and classmates should be at least once a week as scheduled
through our Group Chat or through text messaging. Hence it is important that you provide
me with your FB messenger account and your cellphone number if possible.

On the other hand, if you chose the Flexi Tech modality, it means that your internet
connectivity at home is stable, and therefore you can make use of the Learning Management
System or LMS for your learning activities at home. In this modality, you will have learning
sessions that will be done asynchronously, meaning, you will follow through the lessons,
instructions and activities using the LMS by connecting on-line. You can do this at your own
pace and time, preferably at the time that is prescribed in your schedule of classes to help
you on managing your time properly. You will also have synchronous classes with your
teacher and classmates, meaning, you will get to meet with them virtually by using
platforms such as Zoom or Google Hangouts. The schedules are provided in the class
schedule. However, whenever there are adjustments in the schedule of meetings because of
certain exigencies, you will be informed about it through a message in the Group Chat which
we will create, or through text messaging.

Governance, Business Ethics, Risk Management and Internal Control

13
 Section Day Time Google Meet Details

AEC225K-LPa TF 11:00-12:30 Meeting ID:

meet.google.com/yod-uvut-kdn

AEC225k-LPb MTH 9:30-11:00 Meeting ID:

meet.google.com/jgy-waho-sic

In a face-to-face mode of delivery, we meet during class hours at an assigned room. That has
changed in a remote set up whether flexi kit or flexi tech solutions. Instead of meeting every
week at a pre-assigned time and place, a large portion of your work will involve
independent study tasks. This means you will need to pace yourself, direct your own
learning experience, be disciplined in managing your time, and target to complete
assignments on or before the due date.

Every week, I designed a Study Guide which provides details on how you should engage
with the core topic and whether this will be supported by a live meeting via Zoom. The
lesson/topic for each week is designed following the UNC outcome-based education
delivery format. You must view these study guides at the start of the week to give you
clarity of what lies ahead and what is expected of you during the week.

COURSE REQUIREMENTS AND GRADING SYSTEM

The following shows a summary of the different assessments that we will be conducting in
relation to the course outcomes. These assessments intend to measure whether you have
reached the expectations of the course through the different lessons and learning activities
that we will have in the entire delivery of the course:

A formative assessment is an “assessment for learning”. It intends to determine what your

learning needs are and what interventions are needed to meet your learning needs and
improve your competencies and skills. A summative assessment is an “assessment of
learning”. It intends to measure whether you have already achieved the expected outcomes
of the course.

Grading System
This will be our Grading System. Take particular note of the components so that you can
strategize on how you can achieve a good final mark in this subject:
Mid-term
70% Participation
Attendance/weekly log-in/consultation 10
Participation in formative assessment 10
Graded Projects/Activities/ Summative Assessment 50
30% Midterm Exam
Final
Governance, Business Ethics, Risk Management and Internal Control

14
 70% Participation
Attendance/weekly log-in/consultation 10
Participation in formative assessment 10
Graded Projects/Activities/Summative Assessment 50
30% Final Exam

Final Grade= (Mid-term + Final)/2

Cut-off for every assessment to be marked 75% is 60%. This means that for 10-item
assessment, the student should get at least 6 correct answers to get the 75% mark.

Midterm and final exam questions will be posted in the BB for flexi-tech students,
and in the class Google drive or FB messenger for flexi-kit students.

GRADING SYSTEM

Range Numerical Grade Interpretation

99% - 100% 1.0 Excellent

96% - 98% 1.25 Very Superior

93% - 95% 1.50 Superior

90% - 92% 1.75 Very Good

87% - 89% 2.0 Good

84% - 86% 2.25 Very Satisfactory

81% - 83% 2.50 Satisfactory

78% - 80% 2.75 Fair

75% - 77% 3.0 Pass

74 and below 5.0 Fail

ASSESSMENT TOOLS

Rubrics for Case Analysis

Criteria Satisfactory Very Satisfactory Excellent

Governance, Business Ethics, Risk Management and Internal Control

15
(Inquire) I can identify most or all I can Identify most or I can clearly,
Identify and key issue/s and/or all key issue/s and/or accurately, and
define key problem/s; with have problem/s; with some appropriately
issue/s, and/or some inaccuracies or minor inaccuracies or identify key issue/s
problem/s omissions or errors that omissions that do not and /or problem/s
interfere with meaning interfere with meaning
(20pts) (20pts)
(10pts) (15pts)

(Analyze) I present some I present sufficient and I present appropriate,

Present and appropriate appropriate sufficient and credible
analyze data/ data/information. I data/information; I data/information; I
miss/ignore relevant generally analyze clearly analyze
information data/information; My data/information for information for
(20pts) analysis is limited or accuracy, relevance and accuracy, relevance,
somewhat inappropriate. validity. Minor and validity.
This may contain inaccuracies or Information clearly
inaccuracies or omissions omissions do not relates to meaning.
that interfere with interfere with analysis
analysis and/or meaning or meaning.

(10pts) (15pts) (20pts)

(Evaluate) I have somewhat I acknowledge multiple I clearly apply a

Apply a simplified position with approaches. I provide multi-dimensional
multidimensio some sense of multiple some synthesis of approach. I synthesize
nal approach / approaches. I provide perspectives; I may not various perspectives;
consider minor or vague synthesis fully acknowledge I acknowledge limits
context of perspectives; some limits of position or of position or context
acknowledgment context, but am aware
(20pts) positions may have limits. of limits or context
May not acknowledge
context
(15pts) (20pts)
(10pts)

(Solve) I can provide a reasoning I can provide a I can provide a

Demonstrate that contains elements of reasoning that is reasoning that is
sound logic and/or creative mostly logical, logical and creative,
reasoning and insight, but not fully complete and consistent, complete
conclusions resolved. May have minor consistent. I and often unique; I
inconsistencies or demonstrate some can formulate a
(20pts) omissions; I can unique or creative conclusion that is
formulate conclusion that insight; I can formulate complex and/or
Governance, Business Ethics, Risk Management and Internal Control

16
 is relevant but a conclusion that is detailed, well
abbreviated or simplified, generally complete, supported, creative,
not fully supported, and / supported, and mostly complete and relevant
or contains minor consistent and relevant
inconsistencies (20pts)
(15pts)
(10pts)

Language and My work is not well My work has better My work has an
Structure organized. It indicates structure with a logical excellent coherence
(Max. 20 pts) poor vocabulary and progression. It and progression. Its
grammar and with observes competent ideas are well
numerous errors. vocabulary and structured. There is
(10 pts) grammar but with an effective and
occasional errors. accurate use of
(15 pts) vocabulary and
grammar, very few to
no errors at all.
(20pts)

ASSESSMENT TOOLS
Rubrics for Discussion Forums
Criteria Satisfactory Very Satisfactory Excellent
Observations I give simplistic I give an adequate I give sophisticated
and Insights observations, provide degree of observations, and thoughtful
(Max. 50 pts) little or no insight, some insight and observations, high
comment or analysis. My analysis. My work is degree of insight and
work is more descriptive reflective and analysis. My work has
than reflective considered outcomes evidence that
(30 pts) but lack depth outcomes have been
processed and
(40 pts) reflected upon.
(50pts)
Comments and I rarely engage with other I engage with other I actively engage with
Discussions group members and do group members, but other group members,
(Max. 30 pts) not use relevant literature rarely use relevant and adequately use
or factors on the pertinent literature or factors on relevant literature or
issues and discussion. the pertinent issues and factors on the
discussion to support pertinent issues and
the argument with discussion to support
(20 pts) relevant evidence. the argument with
relevant evidence and
(25pts) introduce new
perspectives.
(30pts)

Governance, Business Ethics, Risk Management and Internal Control

17
Language and My work is not well My work has better My work has an
Structure organized, predominantly structure with a logical excellent coherence
(Max. 20 pts) descriptive with little progression. It uses and progression. Its
interpretation or limited interpretation ideas and
reflection. It indicates and reflections. It observations are well
poor vocabulary and observes competent structured. There is an
grammar and with vocabulary and effective and accurate
numerous errors. grammar but with use of vocabulary and
(10 pts) occasional errors. grammar, very few to
(15 pts) no errors at all.
(20pts)

COURSE SCHEDULE

Week/ Topics/ Teaching & Learning Activities

Expected
Date POs & COs Asynchronous Synchronous Output

Module 0 Reading of course Setting of expectations Statement of

guide Commitment
Week 0 Course
Orientation Self-introduction via
Setting LMS
Expectati
ons

Weeks CO 1 Study Reading the assigned Presentation and Case study

1-2 Guide1: chapter discussion of answers involving the
Corporate to case study provisions of
Governance Answering the 5-10 the SEC Code of
item pre-test Corporate
Feedback Governance
Answer in the
Blackboard
discussion forum

Preparation of Webinar
output on case study
assignment

Weeks CO 2 Study Reading the assigned Presentation and Case study

3-4 Guide 2: chapter discussion of answers applying the
Business Ethics to case study principles of

Governance, Business Ethics, Risk Management and Internal Control

18
 Answering the 5-10 business ethics
item pre-test (group output)
Feedback
Answer in the Essay on the
Blackboard current
discussion forum corruption
situation in the
Preparation of Philippines and
output on case study the advocacies
assignment and initiatives
to
mitigate/eradic
ate it
(individual
output)

Weeks CO 3 Study Reading the assigned Presentation and Case study

5-6 Guide 3: Risk chapter discussion of answers applying the
Management to case study principles risk
Answering the 5-10 management
item pre-test (group output)
Answer in the Feedback
Blackboard
discussion forum

Preparation of
output on case study
assignment

Weeks CO 4 Study Reading the assigned Presentation and Written output:

7-9 Guide 4: chapter discussion of answers analysis of the
Internal Control to case study relationship
Answering the 10-15 between
item pre-test
internal control
Answer in the Feedback and the specific
Blackboard asset, liability,
discussion forum or equity
account
Answer the (individual
assignment on the output)
effect of the presence

Governance, Business Ethics, Risk Management and Internal Control

19
 and/or omission of Case study
internal control in involving the
the entity’s assets, internal control
liabilities, and equity system of a
business of the
Preparation of students’
output on case study choice (group
assignment output)

For our class schedule, kindly refer to the official matriculation form. The university
classifies the subject into cluster 1 and cluster 2. Cluster 1 subjects will be taken in the first
nine (9) weeks of the semester while cluster 2 subjects will be taken in the last nine (9)
weeks

This course is to be taken as part of the first cluster subjects. You are expected to devote at
least ​six hours a week for this subject. This means that you have to ​double the time
specified in the matriculation form so that you will complete the learning activities and
assessments as specified in the table above.

For flexi kit class, we will have a consultation session at least once a week at the time
indicated in your matriculation form. The day of this session will be determined and
announced on our first day of classes. This meeting will be conducted via zoom or google
meet for those with internet connectivity or via call for those who do not have internet
connectivity. Announcements will be posted in our class GC. Please tune in.

For flexi-tech class, we will have a weekly synchronous session at the time indicated in your
matriculation form. The day of this session will be determined and announced on our first
day of classes. This meeting will be conducted via zoom or google meet.

In both flexi kit and flexi tech solutions, our interaction through consultation or
synchronous sessions would be approximately 2 hours out of 6 hours required by the
subject on a weekly basis. This means that in most parts of the required hours or
approximately 4 hours a week, you are on self-study mode. During this time, you are
expected to do your part as a diligent and responsible learner. Refer to this RED learning kit
as a complete guide on how to acquire the competencies and comply with the course
requirements. Though we have scheduled consultation or synchronous sessions, you can
give me a ring or send a message in our class GC for urgent concerns. I will try to respond
within the day or in 24 hours.

Aside from our interaction and your interaction with the content, you are also encouraged
to interact with your peers or classmates in this course. There are requirements that need
collaboration with your classmates. May you enjoy this activity.

These are the exam schedules. Place and manner of examinations are to be announced.

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STUDENTS’ REQUIRED SKILLS AND ENVIRONMENT IN A DISTANCE LEARNING MODE
Distance learning covering both flexible tech-driven and printed modular modalities may
sound so wonderful that some of you may start with an unrealistic vision. In reality, these
learning modalities require just as much, if not more, time, energy, motivation and
discipline as traditional classroom courses. So, it is imperative that you possess specific
skills and apply learning strategies to be successful in these learning modalities.

To better equip you for distance learning, it is highly recommended that you take and
complete a Coursera course- MINDSHIFT: Break Through Obstacles to Learning and
Discover Your Hidden Potential. Mindshift teaches the essentials of online learning. It
provides practical insights from science and certain mental tools so you can learn and do
more—far more—than you might have ever dreamed!

You can avail this course as a free course, which means no certificate will be provided to you
after completion. However, the skills and learning strategies that you will gain are helpful in
your university journey.

Aside from the Coursera course, we have the summary of skills and learning strategies that
will surely help you in this distance learning mode: I would like you to carefully read the list
and apply these in all your courses.

1. Persistence
Persistence is perhaps the biggest key to succeed in distance learning. This means that you
should have the willingness to tolerate technical problems, initiative to seek help when
needed, discipline to work daily on every class, and motivation to persist through
challenges.

You should understand that you will run into challenges, but keep trying and ask for help.
You have to set up a manageable study schedule and stick to it. You are expected to log in
and make progress every day. Have that discipline, stick to your schedules even after the
novelty of going to distance learning starts to wear off! Keep going! Your daily little progress
when sums up will be surely of significant value at the end of this course.

2. Effective Time-Management Skills

Next, time management. You must be able to manage your time well. This flexibility is one of
the great benefits of distance learning. But, it can also be a drawback if you procrastinate,
unable to stick to a routine study schedule, or is not able to complete assignments without
daily reminders from your teacher.

Effective time-management skills don't just happen. You have to learn this by practice. Once
you do, you will benefit from it throughout your life. So, follow the tips below to develop
yours:

● You are encouraged to review the syllabus for each of the courses. You must develop
a comprehensive plan for completing the course requirements and assessments.
● Make a daily "To Do" list. And have fun checking things off the list as you complete
them.

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21
It takes time to develop good habits. But, at the end, you will surely gain satisfaction from
being well-organized and in accomplishing your tasks.

3. Effective and Appropriate Communication Skills

Another is about communication. This skill is vital in distance learning because you must
seek help when you need it. We, your teachers are willing to help you, but we are unable to
pick up on non-verbal cues, such as a look of confusion on your face. You are advised to
follow these tips:

● Use the tools provided by your courses as channels for communication. Our
school and your program provide several ways for us to communicate. These might
include e-mail, discussion groups, chat room office hours, cell phones, and even text
messaging. We want to help you to succeed in your classes and will surely answer
your questions.

You may feel awkward to talk with your teachers this way, but these channels aim to
bridge the communication gaps in distance learning. So, go ahead and see the
channels specified in this course.

● Use appropriate style and language for school.​ When communicating with your
teachers and other staff, you should write in full, grammatically correct sentences
and ​with a respectful tone.​ While many of you are used to a very informal style of
writing in chat rooms, blogs, text messages, and so forth, for academic training in
UNC along English Immersive Environment (EIE), you are encouraged to be mindful
of your language and sentence construction .

Because of the distance, it's tempting for some of you to say things out of anger or
frustration that you would never say to your teacher in person. We, your teachers in
distance learning are both professionals and persons. We expect to be treated with respect
and courtesy in the same way that you do in a physical classroom; and with persons whom
you encounter every day like your family. Let us always remember the UNC Core Value: We
Respect Each Other and Work as a Team.

4. Basic Technical Skills

The fourth skill is about technology. You as learners need basic technical skills to succeed.
These include your ability to create new documents, use a word processing program,
navigate the internet and the learning management system, and download software and
files. We will have an orientation on how to use the learning management system and other
online tools.

If you lack basic computer skills, we are encouraging you to find an online tutorial and learn
from there. You may also want to check the UNC’s main website for its hardware and
software requirements to see the compatibility of your own gadgets

5. Reading and Writing Skills

Another is about reading and writing as the main ways to communicate in distance learning
modality. Although some hard copies of textbooks might be required, you should be
comfortable reading a lot of documents on a computer screen and able to type.
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22
Though some tests and quizzes have multiple choice questions, many of your assignments
will involve writing short or long answers. So appreciate these learning activities to
improve your writing skills.

6. Motivation and Independence

The sixth skills are about motivation and independence. To be successful, ​you must want to
succeed​. Distance learning requires independence, internal motivation, responsibility, and a
certain level of maturity.

Kindly reflect on these questions:

What are your reasons for attending school?

Are you determined and self-motivated to succeed in school?

Your answers are worthwhile reasons to work hard in school. In the future, it will give you a
greater level of personal satisfaction with your career. Perhaps it would be simply a
personal pride in your accomplishments.

7. A Good Study Environment

The last but not the least is having a good study environment. This is a critical factor in
distance learning. Refer to the helpful tips below:

● Get some peace and quiet.​ You will need a quiet place to work without distractions
from things like television, family, or roommates.
● Avoid games.​ Consider uninstalling any computer games to avoid temptation. Or
keep the games on a different computer in the house.
● Turn off mobile phone devices.​ Let your friends and family members know the
hours that you will be "at" school.
● Beware surfing​ the black hole of the Internet. It is easy to lose track of the time as
you wander from site to site.
● Consider ergonomics.​ Adjust the height of your chair, keyboard, and screen so that
you will be comfortable. Forearms and thighs should be level and parallel to the
floor. Wrists should not be bent while typing.
● Set up good lighting and comfortable seating.​ Lighting in the room should be at
least as bright as the computer screen to avoid eye strain.

Go back to the above list from time to time to be reminded of helpful tips to succeed in distance
learning or probably in life in general.

OTHER COURSE POLICIES

General Requirements

Each student is expected to perform in a number of positive ways so as to develop and/or

enhance both tangible and intangible competencies and appreciation. As a facilitator of learning
in these areas, the following expectations must also be met:

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23
 1. Thoroughly read and submit all course requirements by the due dates.
2. Communicate with the faculty via LMS, email, class GC or mobile phone number.
3. Conduct yourselves in a professional manner.
4. Check the LMS and class GC regularly.
5. For submission of large files, use the class Google drive

Feedback Mechanism

Correct answers to pre-tests and objective-type quizzes are automated; that is, they will
be shown after submission of the answers, except when there are students who have not taken
the assessment yet, in which case, correct answers will be provided when everyone in the class is
done. Feedback to assignments will be given during synchronous class. The faculty may provide
individual feedback using the feedback feature of Blackboard, or through Messenger or email.

Written Works: Accuracy and Attribution

Individual submitted work may be handwritten or word-processed, while group outputs

must be word-processed, following the format recommended by the APA (American
Psychological Association) citation guidelines (6th Edition). The faculty will adhere to all
university policies regarding the originality of work, examination protocols and behavior, and
grading practices. Students are expected to be familiar with them. Individual and group work
submitted by students must be original. Using other works ​not properly referenced​, especially
long passages, may result in a grade reduction or other appropriate actions as required by the
severity of the situation, including reporting the infraction to the Dean of the School of Graduate
Studies. Accurate and complete referencing will avoid any and all problems in this regard. If you
use a reference from the Internet, the complete URL is required in your bibliography per APA
citation standards (6th Edition).

Honor Code
We uphold the UNC Core Values and this is our commitment with respect to academic integrity.

I am an advocate of academic integrity. I commit to be transparent in acknowledging the work of

others. I commit not to cheat on exams, plagiarize or misrepresent the ideas of someone else as my
own, falsify data and engage in the instances that tainted academic integrity.

I commit to UNC Core Values of Doing the Right Things Right!

Keeping Second Copies of Your Work

Students should retain second copies of all material submitted to the faculty. All written
work submitted to the LMS must contain the student’s name.

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24
Course and Faculty Evaluation by Students

Students will be provided with an opportunity to evaluate the course and the faculty, as
well as relevant materials and activities used in the course delivery. Student feedback is welcome
any time. The best avenue is LMS, email, faculty or mobile phone number.

Prepared by:

Maria Carla R. Mañago

Instructor I

Reviewed and Approved by:

Cerila C. Sanchez
Dean, College of Business and Accountancy

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 Study Guide 1: Corporate Governance
Week/Date: Weeks 1-2

Checklist for Weeks 1 -2

Done? Learning Tasks ILO Assessment Target Date Assessment

level Estimated of Result
Duration Completion
Study Guide 0 I Statement of 1 Day 1 of
purpose or week 1
commitment; Jan 25 or 26
rubric
LT 1: Reading I Discussion 3 hrs Week 1
assignment Forum; rubric; Jan 30
pre-test
LT 2: Best E Discussion 4 hrs Week 1-2
corporate forum; class
governance discussion Feb 6
practices during
synchronous
session
LT 3: Case study D Case study 4 hrs Week 2
involving Feb 6
provisions of the
SEC Code of
Corporate
Governance

Intended Learning Outcomes

By the end of weeks 1 to 2, you should be able to:

I Discuss the principles of corporate governance including the SEC Code of Corporate
Governance.
E Illustrate the application of the principles of good corporate governance.
D Decide on cases involving the provisions of the SEC Code of Corporate Governance.

Module 0
Learning Task 0
Write your statement of purpose or commitment and submit either in BB discussion
forum or in the class Google drive

Study Guide 1
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26
Learning Task 1

READ:
Chapters 1 to 4, Cabrera and Cabrera (2019). ​Corporate Governance, Business Ethics,
Risk Management, and Internal Control. ​ Manila: GIC Enterprises & Co., Inc.

Assessment: Answer the 5-10-item pre-test on Introduction to Corporate

Governance

Learning Task 2

Best corporate governance practices​. Submit related articles and/or videos that
show the best practices of corporations both local and international in terms of their
governance. Sharing will be through the discussion board of Blackboard, and
recitation and discussion will be conducted during the synchronous session

Synchronous session: Recitation/discussion of assignment; Webinar on SEC Code of

Corporate Governance

Learning Task 3

Case study.​ You will be assigned in groups where they will decide on actual cases
involving the provisions of the SEC Code of Corporate Governance

Assessment: Case study output

Synchronous session: Discussion of output

Reference

Cabrera and Cabrera (2019). ​Corporate Governance, Business Ethics, Risk

Management, and Internal Control. ​ Manila: GIC Enterprises & Co., Inc.

Note:
Synchronous sessions are intended for those who availed of the tech-driven modality. However,
students who opted for RLK are highly encouraged to attend these sessions.

As part of supervised learning, students who opted for RLK should report for weekly
consultation using either FB messenger or SMS.

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27
 Study Guide 2: Business Ethics
Week/Date: Weeks 3-4

Checklist for Weeks 3 to 4

Done? Learning Tasks ILO Assessment Estimated Target Assessment

level Duration Date of Result
Completion
LT 1: Reading I Discussion 2 hrs Week 3
assignment Forum; rubric; Feb 13
pre-test
LT 2: Ethical and E Discussion 3 hrs Week 3, 4
unethical business forum; class Feb 13
practices discussion
during
synchronous
session
LT 3: Essay E Essay on the 3 hrs Week 4
corruption Feb 20
situation in the
Philippines and
the advocacies
and initiatives to
mitigate it
(individual
output)
LT 4: Case study D Case study 4 hrs Week 4
involving ethical Feb 20
dilemmas (group
output)

Intended Learning Outcomes

By the end of weeks 3 to 4, you should be able to:

I Differentiate ethical dilemmas and ethical business practices

E Illustrate the steps in resolving ethical dilemmas.
D Apply the principles on cases that involve ethical dilemmas.

Learning Task 1

READ:
Chapters 5 to 8, Cabrera and Cabrera (2019). ​Corporate Governance, Business Ethics,
Risk Management, and Internal Control. ​ Manila: GIC Enterprises & Co., Inc.
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28
 Assessment: Answer the 5-10-item pre-test on Introduction to Ethics and Business
Ethics

Learning Task 2

Ethical and unethical business practices. Submit related articles and/or videos
that show the best practices that of both local and international companies that
exemplify business ethics. Also submit articles and/or videos of unethical business
practices. Sharing will be through the discussion board of Blackboard, and recitation
and discussion will be conducted during the synchronous session

Synchronous session: Recitation/discussion of assignment

Learning Task 3

Essay (individual output).​ Prepare an essay discussing the corruption situation in

the Philippines and the advocacies and initiatives to mitigate it. Guide questions will
be posted in Blackboard, and answers must not be less than 500 words. Please see
rubrics in the first part of this Study Guide.

Assessment: Essay output

Learning Task 4

Case study.​ You will be assigned to groups where you will decide on actual cases
involving ethical dilemmas, and how they can be resolved following the principles of
business ethics.

Assessment: Case study output

Synchronous session: Discussion of output

Reference

Cabrera and Cabrera (2019). ​Corporate Governance, Business Ethics, Risk

Management, and Internal Control. ​ Manila: GIC Enterprises & Co., Inc.

Note:
Synchronous sessions are intended for those who availed of the tech-driven modality. However,
students who opted for RLK are highly encouraged to attend these sessions.

As part of supervised learning, students who opted for RLK should report for weekly
consultation using either FB messenger or SMS.
Governance, Business Ethics, Risk Management and Internal Control

29
 Study Guide 3: Risk Management
Week/Date: Week 5-6

Checklist for Week 5-6

Done? Learning Tasks ILO Assessment Target Date Assessment
level Estimated of Result
Duration Completion
LT 1: Reading I Discussion 2.5 hrs Week 5
assignment Forum; rubric; Feb 27
pre-test
LT 2: Principles of E Discussion forum; 4.5 hrs Week 5,6
risk management class discussion
during Feb 27
synchronous
session
LT 3: Case study D Case study 5 hrs Week 6
involving risk
management Mar 6
principles (group
output)

Intended Learning Outcomes

By the end of weeks 3 to 4, you should be able to:

I Discuss the principles of risk management.

E Apply the principles of risk management.
D Design recommendations for real-life cases and situations on risk management.

Learning Task 1

READ:
Chapters 11to 12, Cabrera and Cabrera (2019). ​Corporate Governance, Business
Ethics, Risk Management, and Internal Control. ​ Manila: GIC Enterprises & Co., Inc.

Assessment: Answer the 5-10-item pre-test on Introduction to Ethics and Business

Ethics

Governance, Business Ethics, Risk Management and Internal Control

30
Learning Task 2

Principles of risk management. Answer the discussion questions in Blackboard

regarding various risk management situations, and apply the appropriate risk
management approach.

Synchronous session: Recitation/discussion of assignment

Learning Task 3

Case study.​ You will be assigned in groups where you will decide on actual cases
involving risk management. The group must design recommendations on how these
risks can be mitigated or eradicated.

Assessment: Case study output

Synchronous session: Discussion of output

Reference

Cabrera and Cabrera (2019). ​Corporate Governance, Business Ethics, Risk

Management, and Internal Control. ​ Manila: GIC Enterprises & Co., Inc.

Note:
Synchronous sessions are intended for those who availed of the tech-driven modality. However,
students who opted for RLK are highly encouraged to attend these sessions.

As part of supervised learning, students who opted for RLK should report for weekly
consultation using either FB messenger or SMS.

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31
 Study Guide 4: Internal Control
Week/Date: Week 7-9

Checklist for Week 7-9

Done? Learning Tasks ILO Assessment Estimated Target Assessment
level Duration Date of Result
Completion
LT 1: Reading I Discussion 5 hrs Week 7
assignment Forum; rubric; Mar 13
pre-test
LT 2: Fraud and E Discussion 4.5 hrs Week 7
Error forum; class Mar 13
discussion during
synchronous
session
LT 3: Internal control E Discussion 4.5 Weeks 8-9
affecting assets, forum; class Mar 20
liabilities, and equity discussion during
accounts synchronous
session
LT 3: Case study D Case study 4 hrs Week 9
involving risk Mar 27
management
principles (group
output)

Intended Learning Outcomes

By the end of weeks 3 to 4, you should be able to:

I Discuss the elements of internal control, the different kinds of fraud and error and
how they take place.
E Illustrate how internal control affects assets, liabilities, and equity.
D Assess the existing internal control system of various businesses and provide
recommendations to improve such systems.

Learning Task 1

READ:
Chapters 13 to 17, Cabrera and Cabrera (2019). ​Corporate Governance, Business
Ethics, Risk Management, and Internal Control. ​ Manila: GIC Enterprises & Co., Inc.

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32
 Assessment: Answer the 10-15-item pre-test on Overview of Internal Control and
Fraud and Error

Learning Task 2

Fraud and Error. Answer the exercises on Blackboard. These questions will require
you to identify if the practice is fraud or error, discuss the elements of the fraud
triangle that are present in the situation, and provide suggestions on how these can
be prevented.

Synchronous session: Recitation/discussion of assignment

Learning Task 3

Internal control affecting assets, liabilities, and equity accounts. Answer the
exercises on Blackboard. These questions will require you to identify the specific
misstatement that is likely to be prevented if the control exists, a specific
misstatement that could result in the absence of such control, its effect on the
company's assets, liabilities, and equity, and the weaknesses and possible
improvements that can be made for each internal control

Synchronous session: Recitation/discussion of assignment

Learning Task 4

Case study.​ You will be assigned in groups where you will assess the existing
internal control system of actual businesses, and recommend improvements that
can be made to the existing controls.

Assessment: Case study output

Synchronous session: Discussion of output

Reference

Cabrera and Cabrera (2019). ​Corporate Governance, Business Ethics, Risk

Management, and Internal Control. ​ Manila: GIC Enterprises & Co., Inc.

Note:
Synchronous sessions are intended for those who availed of the tech-driven modality. However,
students who opted for RLK are highly encouraged to attend these sessions.

As part of supervised learning, students who opted for RLK should report for weekly
consultation using either FB messenger or SMS.

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33
No Reading Materials. With prescribed Textbook.

Cabrera and Cabrera (2019). ​Corporate Governance, Business Ethics,

Risk Management, and Internal Control. ​ Manila: GIC Enterprises & Co.,
Inc.

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