Uploaded by Christian Miles Felicilda

ACCE 311 Syllabus (1)

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9UM
•
The University of Mindanao
COURSE INFORMATION
1. Course Number
2. Course Name
3. Course Description
4.
5.
6.
7.
8.
College of Accounting Education
ACCE 311- Course Outline
: ACCE 311
: Operations Auditing
: This course is designed to explore and examine the duties and
responsibilities of an auditor in conducting a systematic and independent
evaluation of organizational activities. It covers the scope, importance and
elements of internal audit that emphasizes on operations audit. Also
discussed in detail are the evolution of and development of audit services,
internal auditing functions and activities, code of ethics among internal
auditors, corporate governance, fraud, risk and risk management, internal
control, audit planning and strategy, audit testing and sampling, working
papers and audit reporting. The main purpose of the course is to provide
students with the necessary knowledge to understand the wide scope of
internal auditing with the dynamics of operations auditing.
Pre-requisite
Co-requisite
: None
Credit
: 3.0 units
Class schedule
: 6 hours per week
Program Educational Objectives (PEO) of __:
Five years after graduation, the BSA T graduates are expected to:
A. Engage in the field of accounting or entrepreneurial undertaking that provides employment in the
community;
B. Pursue graduate studies related in the field of business, or obtain international certification, or
advancement in technology; and
C. Demonstrate ethical responsibility in the practice of profession and in the community.
9. Student Outcomes (SO) and their links to Program Educational Objectives (PEO)
Student Outcomes (SO)
Upon completion of the program, the UM Accountancy student will have the ability:
• A. Articulate and discuss the latest developments in the practice of Accountancy;
B. Effectively communicate orally and in writing using both English and Filipino;
C. Work effectively and independently in multi-disciplinary and multi-cultural teams;
D. Act in recognition of professional, social, and ethical responsibility;
E. Preserve and promote "Filipino historical and cultural heritage";
F. Describe the basic functions of management such as planning, organizing, leading and controlling;
G. Identify and describe the basic concepts that underlie each of the functional areas of business
(marketing, finance, human resources management, production and operations management, information
technology, and strategic management) and employ these concepts in various business situations;
*H. Select the proper decision-making tools to critically, analytically and creatively solve problems and drive
results;
I. Express clearly and communicate effectively with stakeholders both in oral and written forms;
J. Apply information and communication technology (ICT) skills as required by the business environment;
K. Work effectively with other stakeholders and manage conflict in the workplace;
L. Organize and lead groups to plan and implement business related activities.
M. Demonstrate corporate citizenship and social responsibility;
N. Exercise high personal moral and ethical standards.
0. Resolve business issues and problems, with a global and strategic perspective using knowledge and
technical proficiency in the area of financial accounting and reporting, cost accounting and management
ACC 31 I - Operations
Auditing
Date Revised:
August I, 2021
Revision No. I
Date Effective:
I" Sem, SY 20212022
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PEO
2
3
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Page I of 13
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e>UM
College of Accounting Education
ACCE 311- Course Outline
The University of Mindanao
accounting and control, taxation, and accounting information systems;
P. Conduct accountancy research through independent studies of relevant literature and appropriate use of
accounting theory and methodologies;
Q. Employ technology as a business tool in capturing financial and non-financial information, generating
reports and making decisions;
*R. Apply knowledge and skills to successfully respond to various types of assessments, and (including
professional licensure and certifications);
S. Confidently maintain a commitment to good corporate citizenship, social responsibility and ethical
practice in performing functions as an accountant; and
T. Graduates of universities participate in the generation of new knowledge or in research and development
program.
Note:
y
y
y
y
y
* SO be111g addressed i11 t/11s course
10. Course Outcomes (CO) of ACCE 311 and their links to Student Outcomes (SO)
C01
CO2
C03
At the end of the course,
the student has the ability
to:
Explain the key concepts,
principles and activities of
operations audit
Explain internal control,
risk management and
corporate governance in
organizational context
and setting
Prepare audit plan
Legend: I
E
D
ACC 311 - Operations
Auditing
A B C D E F G H I
J
Student Outcomes (SO)
K
L
M
N
0
p
R
Q
E
E
E
E
E
E
E
E
E
s
T
Upon attainment of this CO, students will have been imroduced to the SO.
Upon attainment of this CO, students wiLI have enabled themselves to attain the SO.
Upon attainment of this CO, students will have demonstrated partly or fully the SO.
Date Revised:
August I, 2021
Revision No. I
Date Effective:
I" Sem, SY 20212022
Page 2 of 13
eUM
The University of Mindanao
College of Accounting Education
ACCE 311- Course Outline
Program Educational Objectives (PEO)
Vision: By 2022, a globally recognized institution
providing quality, affordable and open education.
I.
Mission: Provide a dynamic and supportive academic
environment through the highest standards of
instruction, research and extension in a non-sectarian
institution committed to democratizing access to
education.
2.
Core Values: Excellence, Honesty and Integrity,
Innovation and Teamwork.
Core Competency: "Quality affordable open education"
3.
Engage in the field of accounting or
entrepreneurial undertaking that
provides employment in the
community.
Build and sustain a successful career in
accounting through pa1ticipation or
involvement in continuing Professional
Development Programs (CPDP) of the
profession or pursue advance studies in
other related area of specialization.
Show leadership and ethical
responsibility in the practice of
profession or in the community.
Student Outcomes (SO) as Applied to this Course
Course Outcomes (CO)
• A. Articulate and discuss the latest developments
in the practice of Accountancy;
*H. Select the proper decision-making tools to
critically, analytically and creatively solve problems
and drive results;
• R. Apply knowledge and skills to successfully
respond to various types of assessments, and
(including professional licensure and certifications);
CO I. Explain the key concepts, principles
and activities of operations audit
CO2. Explain internal control, risk
management and corporate governance in
organizational context and setting
CO 3. Prepare audit plan
ACC 311 - Operations
Auditing
Date Revised:
August I, 2021
Revision No. I
Date Effective:
I" Sem, SY 20212022
Page 3 of 13
e>UM
College of Accounting Education
ACCE 311- Course Outline
The University of Mindanao
CO and Assessment Task Alhmment
Course Outcomes
Assessment Task
Theory-Based
Practice-Based
Assessment
Schedule
Coverage
First Exam
*Overview of operations
audit
*Code of ethics
• International Standards
for the professional
Practice of Internal
Auditing
Multiple Choice
Questions
Second Exam
*Corporate Governance
*Fraud
Multiple Choice
Questions
Third Exam
* Risk and Risk
Management
*Internal Control
• Audit Planning
• Audit Testing and
Sampling
*Working papers
• Audit Reporting
1. Explain the key concepts,
principles and activities of
operations audit
Multiple Choice
Questions
2. Explain internal control,
risk management and
corporate governance in
organizational context and
setting
1. Explain the key concepts,
principles and activities of
operations audit
2. Explain internal control,
risk management and
corporate governance in
organizational context and
setting
3. Prepare audit plan
Multiple Choice
Questions
Preparation of
Audit Plan
Fourth Exam
*Final assessment will be a comprehensive examination (from first topic to the last) in a Multiple Choice
Questions
Assessment Task Details (Theory and Practice-Based)
Coverage
Assessment Task
Assessment
Schedule
First Exam
*Overview of internal
auditing.
*Overview of operations
audit.
*Code of ethics
• International Standards
for the professional
Practice of Internal
Auditing
ACC 311 - Operations
Auditing
Date Revised:
August 1, 2021
Multiple Choice
Questions/Short
Answer
(100% of the exam}
(Theory-Based}
Revision No. 1
Details
You are expected to show knowledge on the
nature and definition of internal auditing
and external auditing, scope, importance,
and elements of internal audit, evolution
and development of audit services, internal
auditing functions, activities, phases of
operations audit, code of ethics of internal
auditors and internal audit standards. This
includes research articles required for you to
read and theories related to the topics
mentioned. You are also expected to
critically analyze the contribution of various
topics in understanding internal audit
profession.
Date Effective:
1" Sem, SY 20212022
Page 4 of 13
e>UM
The Unjversity of Mindanao
College of Accounting Education
ACCE 311- Course Outline
11. COURSE OUTLINE AND TIME FRAME
TIME FRAME
TOPICS FOR FIRST EXAMINATION
► Orientation on Classroom and University
Week1 to
Week3
Policies as well as Grading System
► Discussion of PEO, SO, and CO
*Overview of operational auditing.
• Definition of internal audit
• Audit professionalism and hallmarks
• Internal versus external audit
• Scope, importance, and elements of
internal audit
• Evolution and development of audit
services
• Internal auditing functions and
activities
• Managing an internal audit activity
*Code of ethics
• Principles of Institute of Internal
Auditors Code of Ethics
• Ethical behavior and rules of
conduct
* International Standards for the professional
Practice of Internal Auditing
• Definition and purposes of Internal
Audit Standards
• Attribute and Performance
Standards
TLA
► Lecture
► Research Article
reading/discour
se
► Oral Recitation
► Concept
Mapping
► Cooperative
Learning
Required Readings
Tusek, B. (2015). The
influence of the audit
committee on the internal
audit operations in the
system of corporate
governance - evidence
from croatia: Znanstvenostrucni casopis
znanstveno-strucni
casopis. Ekonomska
lstrazivanja, 28(1), 187203.
doi:http://dx.doi.org/10.1
080/1331677X.2015.1028
245
Wimoonard, T.,
Ussahawanitichakit, P., &
Janjarasjit, S. (2015).
STRATEGIC INTERNAL
AUDIT EXCELLENCE AND
ORGANIZATIONAL
SURVIVAL: A CONCEPTUAL
MODEL. Allied Academies
INDUSTRY INTEGRATION: Seminar on
Internal Audit Standards and Code of Ethics
by Industry Practitioner
International
Conference.Academy of
Accounting and Financial
Studies.Proceedings, 20(2)
, 185-201. Retrieved from
https://search.proquest.c
om/docview/1764886803
?accountid=31259
FIRST EXAMINATION
Week4 to
Weeks
ACC 311 - Operations
Auditing
*Corporate Governance
• Corporate Governance: Definition
and function
• Principles of Corporate Governance
• The Agency Concept
• Cadbury and Greenbury Code
• Manual of Corporate Governance
(The Code)
Date Revised:
August 1, 2021
► Group
dynamics
► Concept
mapping
► Write-shop on
FS analysis
report
► Research article
Revision No. 1
Date Effective:
1" Sem, SY 20212022
Corporate Governance in
the Philippines
Source:
htti;i:LLwww.dlsu.edu.i;ihL
researchLcentersLcberdL
i;idfLbus focusL
Cori;iorate Governance.i;id
f (Baltazar 2015)
Page 8 of 13
e>UM
The University of Mindanao
College of Accounting Education
ACCE 311- Course Outline
Source:
http://wwwbfs.ucsd.edui'.blinki'.
ocbfs/acci'.
UnderstandlC.pdf
THIRD EXAMINATION
Week8
to
Week9
• Audit Planning
• Audit Plan
• Audit Assignment
• Roles of Audit Manuals
• Planning Approaches
• Audit Testing and Sampling
• Definition of Audit Testing
• Testing process
• Types of audit test
• Testing techniques
• Sampling
• Statistical sampling process
• Sampling techniques and
parameters
*Working papers
• Attributes of audit evidences
• Functions of working papers
• Characteristics and types of working
papers
• Audit Reporting
• Definition, functions and objectives
• Audit reporting process
• Internal audit report samples
► Lecture
► Oral recitation
► Concept
Mapping
► Cooperative
Learning
Iverson, A. R. (2018).
PLAN AUDITS: What is
that auditor
thinking? Journal of
Pension Benefits, 25(2),
40-43. Retrieved from
https://search. proquest.
com/docview/19894965
87?accountid= 31259
Teodorescu, 5., &
Dumitru, A. P. (2019).
PRACTICAL METHODS OF
SELECTION AND
CALCULATION OF SAMPLE
SIZE FOR AUDIT
SAMPLING. Challenges of
the Knowledge Society,
1129-1133. Retrieved
from
https://search.proquest.c
om/docview/2263227242
?accountid=31259
Protecting internal audit
work papers from
discovery
Source:
INDUSTRY INTEGRATION: AUDIT REPORT
PREPARATION
h1m.;LL
www.cluteinstitute.com1'.
ojsi'.index.phpi'.JABRi'.
articlei'.viewFilei'.
58495923
Audit Working Papers I
Importance I Objectives
Contents
Source:
http://
accountlearning.com/
audit-working-papersimportance-objectivescontents/
ACC 311 - Operations
Auditing
Date Revised:
August 1, 2021
Revision No. 1
Date Effective:
1" Sem, SY 20212022
I
Page 11 of 13
e>UM
College of Accounting Education
ACCE 311- Course Outline
The University of Mindanao
Audit quality and financial
reporting
Source:
htt12s:[j_www.k12mg.comL
CaLenLservicesLAuditL
DocumentsL5523-ICDarticle-re12rints-ThesbergV3-web.12df
FOURTH EXAMINATION
12. TEXTBOOK :
*
*
International Standards for Professional Practice of Internal Auditing downloadable from
https://na.theiia.org/standards-guidance/mandato01-guidance/pages/standards.aspx#:-:text=Stand,irds
%2Q,ir!;l%2QRrinQiRl!;l%2DfQQ!.!S!;ld%2Q,ing,th!;l%2Q!;lff!;lQtiv!;ln!;lss%2QQf%2Qits%2QR!;lrfQrm,inQ!;l.
Tan, J. (2015). Internal Audit: Concepts, Theories and Applications. Davao City: EDS Books Publication
References:
a.
b.
C.
d.
e.
f.
g.
h.
13.
Vallabhaneni, S.(2020). Wiley CIAexcel exam review 2018. Part 1 Internal audit practice. New Jersey:
John Wiley & Sons
Vallabhaneni, S.(2020). Wiley CIAexcel exam review 2018. Part 2 Internal audit knowledge elements.
New Jersey: John Wiley & Sons
Vallabhaneni, S.(2020). Wiley CIAexcel exam review 2018. Part 3 Internal audit basics. New Jersey:
John Wiley & Sons
Doxey, C. (2019). Internal controls toolkit. Hoboken, NJ: Wiley
AICPA (2019). Audit risk alert: 2019-20 general accounting and auditing developments. USA: Wiley
Johnstone, K., Gramling, A., and Rittenberg, L. (2019). Auditing: a risk-based approach. 11'h edition.
Australia: Cengage.
Recommended Guidance downloadable from httRs://na.the i ia. org/standards-g uidance/recommendedgyig,i nQ!;l/P,ig!;ls/StrQngl'l,-R!;lQQmm!;)ng!;)g-�yig,inQ!;l.<!SRX
Position Papers downloadable from https://na.theiia.org/about-us/about-ia/Pages/Position-Papers.aspx
COURSE EVALUATION
Assessment Methods
Weights
EXAMINATIONS
A.
B.
Exam 1- 3
Final Exam
MCQ/Short Answer - 50%
Competency Assessment - 50%
-·
-- -
""�""'--'
D.
t.'
1-,.-..,
-•-a-•-
,,,, I l\..11 r, I
14. ,C..,_,_ 011in<><
30%
30%
10'1{,
1:---
lS'V,,
RequTrement - Preparation of Au(lit Plan
lU'.o
l�MRon frnm thP first rpm,l�r rl�ss mPPlin<>
I . F. A vali8atigfl�filt identification card must alwavs be worn bv all student s while attending clasi�.
c. Tdtla�ating is strictly prohibited. Any form of academic dishonesty shall be dealt with ac ordingl\l�ve offen es such
as plagiarism and outsourcing of major requirements, final requirements, theses, dissertations, capstones, designs
and similar others, are automatically elevated to OSA/SCC/USCC for disciplinary action.
d. Valid examination permits are necessary in taking the examinations as scheduled. PRESCRIBED PRC CALCULATORS
ACC 311 - Operations
Auditing
Date Revised:
August 1, 2021
Revision No. 1
Date Effective:
1" Sem, SY 20212022
Page 12 of 13
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