Learning Environment

Date Learning Outcomes Topics Assessment

Synchronous Asynchronous Total Time
Week 1a Determine how to achieve Freshman Orientation Provide multiple-choice pop-up 90 mins 90 mins
the LOs of the course  School vision and mission, Institutional outcomes, General education learning question to determine the
outcomes, Course syllabus, Course Learning Outcomes, Schedule students understanding of the
 Effective Use of Reference and Resources course.
 How to Ask Questions
Advise attendees to use the
 Webinar guidelines
CHAT BOX, RAISE/ LOWER
 House Rules/ Class Policies HAND QA Tools of the webinar
1. Plagiarism to assess learning outcome
2. Cheating
3. Fabrication
4. Late and Absences
5. Submission of writing papers
6. Notebook for Most Significant Learning (MSL)
7. Class Performance (Thinking and Expression)
8. Asking questions
9. No Cell phone policy
10. Email
11. Discussion groups
12. Going out of class
Course Orientation
 Quiz Rules
 Exam Rules
 Grading System
 Books and other resources
Week 1b To understand the RA IRR RA 9298: The Philippine Accountancy Act of 2004 90 mins 90 mins
9298.
URL Reference:
https://aasc.org.ph/downloads/P
SA/publications/glossary-of-
terms.php
Self-learning Materials:
1. Preface to International Standards and Philippine Standards https://aasc.org.ph/downloads/P
2. Glossary of Terms SA/publications/iaasb
3. IAASB Interim Terms %E2%80%93interim-trms-of-
reference-august-2004.php
Week 2a To explain the importance Chapter 1 Auditing: Integral to the Economy 90 mins
of audit and other
assurances to the  Introduction
 economy.  Changes in the Profession: Increased Demand for Accountability
 Scope of Services
 Requirements to Enter the Public Accounting Profession
 The Providers of Assurance Services Short quiz 30 mins 120 mins
 Professional and Regulatory Organizations
 Philippine Framework for Assurance Engagements
 PSAE 3000 Revised: Assurance Engagements other than Audits or Reviews of
Historical Financial Information
Week 2b To determine the Quiz 1: RA 9298 RA 9298 50 items 60 mins
students’ understanding
of the topic. Review of Quiz 1 30 mins 90 mins
Week 3a To define the role of Chapter 2 Corporate Governance and Audit 90 mins
corporate governance to
the entity and understand  Corporate Governance and Auditing
the audit.  Audit Standard Setting
 Overview of the Audit Process: A Standard-Based Approach
1. PSA 120: Framework of Philippine Standards on Auditing
2. PSA 200 Revised and Redrafted: Overall Objectives of the Short quiz 30 mins 120 mins
Independent Auditor and the Conduct of an Audit in Accordance with
Philippine Standards on Auditing URL Reference:
3. PSA 260 Revised: Communication with those Charged with https://aasc.org.ph/downloads/P
Governance SA/publications/psa-260-
revised-redrafted.php
Week 3b Self-learning / Catch-up Activity 90 mins 90 mins

Week 4a To determine the Quiz 2: Assurance Assurance 50 items 60 mins

students’ understanding
of the topic. Review of Quiz 2 30 mins 90 mins
Week 4b To determine the Quiz 3: Corporate Governance and Audit Corporate Governance and 60 mins
students’ understanding Audit 50 items
of the topic. Review of Quiz 3 30 mins 90 mins
Week 5a To understand the PSQC Redrafted: Quality Control for Firms that Perform Audits and Reviews of 90 mins 90 mins
necessary quality control Financial Statements, and Other Assurance and Related Services Engagements
for assurance URL Reference:
engagements. PSA 220 Redrafted: Quality Control for An Audit of Financial Statements https://aasc.org.ph/downloads/P
SA/publications/psa-220-
redrafted.php
Week 5b To determine the Quiz 4: Quality Control Quality Control 50 items 60 mins
students’ understanding
of the topic. Review of Quiz 4 30 mins 90 mins
Week 6 Prelim Examination Prelim Examination 70 items
150 mins 150 mins
Week 7a Review of Prelim Examination Prelim Examination 70 items 90 mins 90 mins

Week 7b To understand and exhibit IFAC 2018 Code of Ethics for Professional Accountants: Part I, Part III and Part IV 90 mins 90 mins
the provisions of Code of
Ethics for Professional
Accountants.
Week 8a Demonstrate proper Chapter 3 Judgmental and Ethical Decision-Making Frameworks and Associated 90 mins
judgment and ethical Professional Standards
decision-making.
 Introduction
 A General Decision- Making Framework
 The Sarbanes-Oxley Act of 2002 as a Reaction to Ethical Lapses
 Approached to Professional Code of Ethics Short quiz 30 mins 120 mins
 Further Considerations Regarding Auditor Independence
Chapter 17 Professional Liability
 The Legal Environment
 Basic Legal Concepts
 Legal Precedence
 Minimizing Liability Exposure
Week 8b To determine the Quiz 5: Judgment, Ethics, and Professional Liability Judgment, Ethics, and 60 mins
students’ understanding Review of Quiz 5 Professional Liability 50 items
of the topic. 30 mins 90 mins
Week 9a To understand and Chapter 4 Audit Risk, Business Risk, Audit Planning 90 mins 90 mins
explain the risk affecting
audit.  Nature of Risk URL Reference:
 Managing Engagement Risk through Client Acceptance and Retention https://aasc.org.ph/downloads/P
Decisions SA/publications/psa-330-
1. PSA 210 Redrafted: Agreeing the Terms of Audit Engagement redrafted.php
 Managing Audit Risk
1. PSA 320 Revised and Redrafted and PSA 450: Materiality in Planning
and Performing an Audit, and Evaluation of Misstatements Identified
during the Audit
2. PSA 330 Redrafted: The Auditor’s Response to Assessed Risk
Week 9b To properly design and  Planning the Audit using the Audit Risk Model 90 mins
plan an audit. 1. PSA 300 Redrafted: Planning an Audit of Financial Statements
2. PSA 315 Redrafted: Identifying and Assessing the Risk of Material
Misstatements through Understanding the Entity and its Environment
 Preliminary Financial Statement Review: Using Analytical Techniques to
Identify Areas of Heightened Risk
Short quiz 30 mins 120 mins
 1. PSA 520 Redrafted: Analytical Procedures
 Other Factors that affects the Audit URL Reference:
1. PSA 240 Redrafted: The Auditor’s Responsibilities Relating to Fraud https://aasc.org.ph/downloads/P
in an Audit of Financial Statements SA/publications/psa-240-
2. PSA 250 Redrafted: Consideration of Laws and Regulations in an redrafted.php
Audit of Financial Statements
3. PAPS 1010: The Consideration of Environmental Matters in the https://aasc.org.ph/downloads/P
Audits of Financial Statements SA/publications/psa-250-
redrafted.php

https://aasc.org.ph/downloads/P
APS/publications/paps-
1010.php
Week 10a Self-learning / Catch-up Activity 90 mins 90 mins

Week 10b To determine the Quiz 6: Audit and Business Risk Audit and Business Risk 50 60 mins
students’ understanding items
of the topic. Review of Quiz 6 30 mins 90 mins
Week 11a To determine the Quiz 7: Audit Planning Audit Planning 50 items 60 mins
students’ understanding
of the topic. Review of Quiz 7 30 mins 90 mins
Week 11b Rest Day / Contingency Time

Week 12 Midterm Examination Midterm Examination 70 items

150 mins 150 mins
Week 13a Review of Midterm Examination Midterm Examination 70 items 90 mins 90 mins

Week 13b To understand the Chapter 7 A Framework for Audit Evidence 90 mins
framework for audit
evidence.  Overview of the Audit Model
 Assertion Model for Financial Statement Audits
 Gathering Sufficient, Appropriate Evidence
 Audit Programs and Documenting Audit Evidence
1. PSA 230 Redrafted: Audit Documentation Short quiz 30 mins 120 mins
2. PSA 500 Redrafted: Audit Evidence
3. PSA 501 Redrafted: Audit Evidence – Specific Considerations for URL Reference:
Selected Items https://aasc.org.ph/downloads/P
 Auditing Account Balances Affected by Management’s Estimate SA/publications/psa-501-
1. PSA 540 Revised and Redrafted: Auditing Accounting Estimates, redrafted.php
Including Fair Value
https://aasc.org.ph/downloads/P
 SA/publications/psa-540-
revised-redrafted.php
Week 14a To determine the Quiz 8: Audit Evidence Audit Evidence 50 items 60 mins
students’ understanding
of the topic. Review of Quiz 8
30 mins 90 mins
Week 14b To use appropriate tools Chapter 8 Tools Used in Gathering Audit Evidence 90 mins 90 mins
in gathering audit
evidence.  Overview of Approaches to Gathering and Evaluating Audit Evidence
1. PSA 530 Redrafted: Audit Sampling
2. PSA 510 Redrafted: Initial Audit Engagements – Opening Balances
 Testing Control Effectiveness and Compliance
Week 15a To select appropriate  Sampling to Test for Account Balance Misstatements 90 mins
sample in gathering audit  Using Generalized Audit Software to Perform Substantive Tests
evidence.  Analytical Procedures as a Substantive Test
1. PSA 520 Redrafted: Analytical Procedures

Short quiz 30 mins 120 mins

Week 15b Self-learning / Catch-up Activity 90 mins 90 mins

Week 16a To determine the Quiz 9: Audit Sampling Audit Sampling 50 items 60 mins
students’ understanding
of the topic. Review of Quiz 9
30 mins 90 mins
Week 16b To determine the Quiz 10: Tools Used in Gathering Audit Evidence Tools Used in Gathering Audit 60 mins
students’ understanding Evidence 50 items
of the topic. Review of Quiz 10
30 mins 90 mins
Week 17a Grades and Target Score, and Final Coaching Individual Advisory 90 mins 90 mins

Week 17b Rest Day / Contingency Time

Week 18 Final Examination Final Examination 70 items

150 mins 150 mins
Week 19 Review of Final Examination Final Examination 70 items 90 mins 90 mins

Week 20 Removal Examination Removal Examination 70 items

150 mins 150 mins