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MINDANAO STATE UNIVERSITY – ILIGAN INSTITUTE TECHNOLOGY

COLLEGE OF BUSINESS ADMINISTRATION AND ACCOUNTANCY

Department of Accountancy
Bachelor of Science in Accountancy
Course Syllabus, 1st Semester, SY 2021-2022

Course No./Title: ACT 140 Governance, Business Ethics, Risk Management and Internal Control

Course Credit: 3

Delivery Mode: Asynchronous (remotely supervised)

Course Description: This course is designed to prepare students for a high standard of responsibility as they enter the corporate world which continues to
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 businesses and people.
They will also be equipped with basic knowledge and skills to thrive in difficult situations like economic volatility and geo-politics,
among other timely issues. Topics covered include 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. Also discussed in detail are the Professional Code of Ethics and the Revised Accountancy Law.

Learning Culminating By the end of this course, the student is able to

Outcome: ● Identify the professional standards that are expected from a professional accountant in order to ensure the benefit of all
stakeholders.
● Assess risk in the enterprise and set up of internal controls
● Develop risk management strategies
● Perform internal audit process
● Identify measures for quality assurance for continual improvements.

Prerequisite: None

Co-requisite: None

Name of MOLE Classroom: ACT140

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Program Outcomes (HEIs)

1. Articulate and discuss the latest developments in the specific field of practice.
2. Effectively communicate orally and in writing using both English and Filipino
3. Work effectively and independently in multidisciplinary and multicultural teams
4. Act in recognition of professional, social, ethical and environmental responsibility
5. Preserve and promote “Filipino historical and cultural heritage”
6. Advocate for peace in multicultural settings

Business and Management Discipline

7. Demonstrate an understanding of the basic functions of management such as planning, organizing, leading and controlling.
8. 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.
9. Select the proper decision-making tools to critically, analytically and creatively solve problems and drive results.
10. Express clearly and communicate effectively with stakeholders both in oral and written forms.
11. Apply information and communication technology (ICT) skills as required by the business environment.
12. Work effectively with other stakeholders and manage conflict in the workplace.
13. Plan and implement business-related activities.
14. Demonstrate corporate citizenship and social responsibility.
15. Exercise high personal, moral and ethical standards.

Bachelor of Science in Accountancy Program

16. 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.
17. Conduct accounting research through independent studies of relevant literature and appropriate use of accounting theory and methodologies and collaborate with others in the conduct of
project feasibility studies and other researches and in the performance of other various tasks.
18. Employ technology as a business tool in capturing financial and non-financial information, generating reports and making decisions.
19. Apply knowledge and skills that will successfully respond to various types of assessments (including professional licensure and certifications)
20. Confidently maintain a commitment to good corporate citizenship, social responsibility and ethical practice in performing functions as an accountant.
21. Demonstrate high competence in accounting and other business related discipline by being an initiator, critical-thinker, ethical worker and knowledge-transfer facilitator.

Additional Program Outcome for Universities

22. Participate in the generation of new knowledge or in research and development projects.
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Course Goals: PROGRAM OUTCOMES

Higher Education Institution Business and Management Discipline BS Accountancy Program

A B C D E F G H I J K L M N O P Q R S T U V

Identify the professional standards that ✔ ✔ ✔ ✔ ✔ ✔ ✔

are expected from a professional
accountant in order to ensure the benefit
of all stakeholders

Assess risk in the enterprise and set up of ✔ ✔ ✔

internal controls

Develop risk management strategies ✔ ✔ ✔ ✔ ✔

Perform internal audit process ✔ ✔ ✔ ✔

Identify measures for quality assurance ✔ ✔ ✔ ✔ ✔

for continual improvements

Course Schedule of Course Requirements

Time Topic Intended Learning Teaching and Learning Learning Assessment Evidence of Due Date
Allotment Outcome Activities Resources Strategies/Tools Outcome

1.5 hr. INTRODUCTION At the end of each topic, Online (MOLE) Course Syllabus Not applicable Not applicable Not
● Vision and Mission of the the student should be able applicable
institute, Goals of the to: Virtual Meeting via Pdf files
College ● Recite the vision and Google Meet: The
● Objectives of the BSA mission of the institute, instructors will conduct a Web Sources:
program goals of the college virtual orientation on the 1. Institute
● Course Topics and objective of the classroom policy, course VMGO and
● Grading system BSA program Core Values:
https://www.ms
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● Classroom policies ● Explain the subject coverage, and grading uiit.edu.ph/abo

content, grading system. ut/facts/core-v
system and classroom alues.php
policies Read: Students click on 2. Netiquette:
the link provided in https://www.ra
MOLE and read the smussen.edu/s
topics inside the tudent-experie
Module. nce/college-life
/netiquette-gui
Offline (Learning delines-every-
Packet) online-student-
needs-to-know
Open the Course /
Overview and
Introduction folder and
read the files provided.

3hrs Introduction to Corporate At the end of each topic, Online (Learning Online: Assignment Grades on Aug.
Governance the student should be able Packet): ● Recorded submitted output 24,2021
1. What Is Governance? to: Lecture of assigned topics
2. Characteristics of Good ● Describe what 1. Click the link for relating to or cases
Governance? governance Module 1 in MOLE and the topic
3. Corporate Governance: An involves follow the learning ● Powerpoint
Overview ● Enumerate the activities provided. View presentatio
4. Purpose of Corporate different contexts in the recorded lecture and n
Governance which governance study the powerpoint
5. Objectives of Corporate can be applied presentation provided. Offline:
Governance ● Name and explain 2. The students can ● Chapter 1
the characteristics work simultaneously in of the
of good their google docs file for suggested
governance their assigned individual reference
● Explain the tasks in the module ● Downloade
meaning, purpose outcome. d ppt
and objectives of relating to
corporate Offline: this topic
governance
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● Know and describe Read Chapter 1 of the

the principles of suggested reference.
effective corporate
governance
● Understand how
the principles of
good corporate
governance can be
applied

3 hrs Corporate Governance At the end of each topic, Online (Learning Online: Answer review Grades of Aug.
Responsibilities and the student should be able Packet): ● Recorded questions and submitted output 27,2021
Accountabilities to: Lecture exercises
1. Introduction ● Explain the 1. Click the link for relating to
2. Relationship between relevance of good Module 2 in MOLE and the topic
Shareholders/Owners and Other governance to both follow the learning ● Powerpoint
Stakeholders large publicly-listed activities provided. View presentatio
3. Parties involved in Corporate companies and the recorded lecture and n
Governance SMEs study the powerpoint
● Shareholders ● Know the presentation provided. Offline:
● Board of Directors relationship 2. The students can ● Chapter 2
● Non-executive or between work simultaneously in of the
Independent Directors shareholders or their google docs file for suggested
● Management owners and other their assigned individual reference
● Audit Committees stakeholders tasks in the module ● Downloade
● Regulators Board of ● Identify the parties outcome. d ppt
Accountancy involved in relating to
● External Audit Corporate Offline: this topic
● Internal Audit Governance Read Chapter 2 of the
● Describe the suggested reference.
respective broad
rate and specific
responsibilities of
the different parties
in a corporate
setting
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6 hrs Securities and Exchange At the end of each topic, Online (Learning Online: 1. Answer 1. Grades of Sept.
Commission Code of Corporate the student should be able Packet): ● Recorded review submitted 16,2021
Governance to: Lecture questions output
● Understand the 1. Click the link for relating to and 2. Peer
The Board’s Governance need for the Code Module 3 in MOLE and the topic exercises evaluation
Responsibilities of Governance for follow the learning ● Powerpoint 2. Group
Principles 1 to 7 publicly-listed activities provided. View presentatio discussion
Disclosure and Transparency companies the recorded lecture and n
Principles 8 to 11 ● Describe the 3 study the powerpoint
Internal Control System and Risk aspects of the presentation provided. Offline:
Management Framework Code, namely 2. The students can ● Chapter 3
Principle 12 ○ Principles work simultaneously in and 4 of
○ Recommen their google docs file for the
dations their assigned individual suggested
○ Explanation tasks in the module reference
s outcome. ● Downloade
○ Understand how the d ppt
ethical behavior of Offline: relating to
the board can be Read Chapter 3 and 4 this topic
strengthened of the suggested
reference.

3 hrs Introduction to Ethics At the end of each topic, Online (Learning Online: Answer review Grades of Sept.
the student should be able Packet): ● Recorded questions and submitted output 21,2021
1. Introduction to: Lecture exercises
2. Characteristics and values ● Define Ethics 1. Click the link for relating to
associated with Ethical ● Enumerate and Module 4 in MOLE and the topic
Behavior describe the basic follow the learning ● Powerpoint
3. Why is Ethical Behavior characteristics and activities provided. View presentatio
Necessary? values associated the recorded lecture and n
4. Why do People Act with ethical study the powerpoint
Unethically? behavior presentation provided. Offline:
5. Categories of Ethical ● Appreciate why 2. The students can ● Chapter 5
Principle ethical behavior in work simultaneously in of the
6. The Need for Professional personal, their google docs file for suggested
Ethics professional and their assigned individual reference
● Downloade
d ppt
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business dealings tasks in the module relating to

is necessary outcome. this topic
● Understand the
reasons why Offline:
people act Read Chapter 5 of the
unethically suggested reference.
● Give and explain
the categories of
ethical principles
● Explain why
professional ethics
is important and
why a code of
conduct should be
adopted

3hrs Business Ethics At the end of each topic, Online (Learning Online: Answer review Grades of Sept.
1. Basic Concept of Business the student should be able Packet): ● Recorded questions and submitted output 24,2021
Ethics to: Lecture exercises
2. Purposes of Business ● Explain the 1. Click the link for relating to
Ethics Module 5 in MOLE and the topic
business ethics is
3. Main Purpose follow the learning ● Powerpoint
● Discuss the presentatio
4. Special Purpose activities provided. View
purposes of n
5. Scope and Impact of the recorded lecture and
Business Ethics business ethics study the powerpoint
6. Economic Impact ● Describe the scope presentation provided. Offline:
7. Social Impact and impact of 2. The students can ● Chapter 6
8. Environmental Impact work simultaneously in of the
business on
9. Impact on Business their google docs file for suggested
○ the reference
Managers economy their assigned individual
10. Ethical Challenges in tasks in the module ● Downloade
○ society d ppt
Today’s World outcome.
○ environment relating to
○ business Offline: this topic
managers Read Chapter 6, of the
suggested reference.
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● Explain the ethical

challenges in
today’s world

3hrs Common Unethical Practices of At the end of each topic, Online (Learning Online: Answer review Grades of Sept.
Business Establishments the student should be able Packet): ● Recorded questions and submitted output 28,2021
1. Misrepresentation and over to: Lecture exercises
persuasion 1. To familiarize 1. Click the link for relating to
2. Direct Misrepresentation yourself of the Module 6 in MOLE and the topic
3. Deceptive packaging common unethical follow the learning ● Powerpoint
4. Misbranding or mislabeling practices of activities provided. View presentatio
5. False or misleading business the recorded lecture and n
advertisement establishments study the powerpoint
6. Adulteration 2. Describe how direct presentation provided. Offline:
7. Weight understatement misrepresentation 2. The students can ● Chapter 7
8. Measurement is committed by work simultaneously in of the
understatement business firms their google docs file for suggested
9. Quantity understatement 3. Describe how their assigned individual reference
10. Indirect Misrepresentation indirect tasks in the module ● Downloade
11. Caveat emptor misrepresentation outcome. d ppt
12. Deliberate withholding of is don by business relating to
information firms Offline: this topic
13. Passive deception 4. Describe how Read Chapter 7, of the
14. Over Persuasion over-persuasion suggested reference.
15. Corporate Ethics becomes unethical
16. Unethical Practices of
Corporate Management
17. Board of Directors

3hrs Ethical Dilemma At the end of each topic, Online (Learning Online: Answer review Grades of Oct 5,2021
1. Introduction the student should be able Packet): ● Recorded questions and submitted output
2. Resolving Ethical Dilemmas to: Lecture exercises
3. Ethical Issue ● Explain what 1. Click the link for relating to
4. Who is Affected and How is ethical dilemma is Module 7 in MOLE and the topic
each Affected follow the learning
5. Bert’s Available Alternatives activities provided. View
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6. Consequences of Each ● Describe the steps the recorded lecture and ● Powerpoint
Alternative in resolving ethical study the powerpoint presentatio
dilemma presentation provided. n
● Apply the steps in 2. The students can
resolving ethical work simultaneously in Offline:
dilemma their google docs file for ● Chapter 8
their assigned individual of the
tasks in the module suggested
outcome. reference
● Downloade
Offline: d ppt
Read Chapter 8 of the relating to
suggested reference. this topic

3hrs Advocacy against Corruption At the end of each topic, Online (Learning Online: Answer review Grades of Oct 8,2021
the student should be able Packet): ● Recorded questions and submitted output
1. What is Corruption? to: Lecture exercises
2. What does Corruption Look ● Understand what 1. Click the link for relating to
Like? corruption is Module 8 in MOLE and the topic
3. Why and how does a ● Know how follow the learning ● Powerpoint
Person Become Corrupt? corruption may look activities provided. View presentatio
4. Ill Effects of Corruption like the recorded lecture and n
5. Characteristics of ● Know why and how study the powerpoint
Corruption does a person presentation provided. Offline:
6. The Philippine Corruption becomes corrupt 2. The students can ● Chapter 9
Report ● Explain the ill work simultaneously in and 10 of
7. Judicial System effects of corruption their google docs file for the
8. Police their assigned individual suggested
9. Public Services tasks in the module reference
10. Prevention of Corruption outcome. ● Downloade
11. Initiatives to improve d ppt
business ethics and reduce Offline: relating to
corruption Read Chapter 9 and 10 this topic
of the suggested
reference.
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6 hrs Risk Management At the end of each topic, Online (Learning Online: Answer review Grades of Oct
1. Introduction the student should be able Packet): ● Recorded questions and submitted output 12,2021
2. Risk Management to: Lecture exercises
3. Basic Principles of Risk ● Explain why there 1. Click the link for relating to
Management is a need to Module 9 in MOLE and the topic
4. Process of Risk improve business follow the learning ● Powerpoint
Management ethics activities provided. View presentatio
5. Elements of Risk ● Explain why a the recorded lecture and n
Management Code of Conduct is study the powerpoint
6. Relevant Risk necessary presentation provided. Offline:
Terminologies ● Define risk 2. The students can ● Chapter 11
7. Potential Risk Treatments management work simultaneously in and 12 of
8. Areas of Risk Management ● Explain briefly the their google docs file for the
9. Risk Management basic principles of their assigned individual suggested
Framework risk management tasks in the module reference
10. Practical Insights in ● Elements of risk outcome. ● Downloade
Reducing management d ppt
● Explain the areas Offline: relating to
of risk management Read Chapter 11 and this topic
● Know the basic 12, of the suggested
approach in reference.
reducing
enterprise-wide
risks
● Understand how to
apply the analytical
process in
managing risks in a
business enterprise
● Understand how to
apply the basic
approach in
managing financial
risk
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3hrs Overview of Internal Control At the end of each topic, Online (Learning Online: Answer review Grades of Oct
1. Nature and Purpose of the student should be able Packet): ● Recorded questions and submitted output 14,2021
Internal Control to: Lecture exercises
2. Internal Control System ● Explain what 1. Click the link for relating to
defined internal control is Module 10 in MOLE and the topic
3. Elements/Components of ● Describe the nature follow the learning ● Powerpoint
Internal Control and purpose of activities provided. View presentatio
internal control the recorded lecture and n
system study the powerpoint
● Define internal presentation provided. Offline:
control system 2. The students can ● Chapter 13
● Explain the work simultaneously in of the
elements of internal their google docs file for suggested
control their assigned individual reference
tasks in the module ● Downloade
outcome. d ppt
relating to
Offline: this topic
Read Chapter 13 of the
suggested reference.

6 hrs Fraud and Error At the end of each topic, Online (Learning Online: Answer review Grades of Oct
1. Introduction the student should be able Packet): ● Recorded questions and submitted output 21,2021
2. Types of Misstatements to: Lecture exercises
3. Fraud triangle ● Explain what fraud 1. Click the link for relating to
4. Risk Factors arising from means Module 11 in MOLE and the topic
Misappropriation of Assets ● Explain the major follow the learning ● Powerpoint
5. Risk Factors arising from types of activities provided. View presentatio
Fraudulent Financial misstatements the recorded lecture and n
Reporting ● Explain the study the powerpoint
6. Responsibility for the elements of fraud presentation provided. Offline:
Prevention and Detection of triangle 2. The students can ● Chapter
Fraud ● Understand errors work simultaneously in 14 and 15
and frauds that their google docs file for of the
may be committed their assigned individual suggested
in the business tasks in the module reference
processes, namely outcome. ● Downloade
d ppt
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○ Sales and relating to

Collection Offline: this topic
Cycle Read Chapter 14 and
○ Acquisition 15 of the suggested
and reference.
Payment
Cycle
○ Payroll and
Personal
Cycle

6 hrs Internal Control At the end of each topic, Online (Learning Answer review Grades of submitted
1. Cash transactions the student should be able Packet): questions and output
2. Financial Investments to: exercises
3. Receivables and Revenue ● Describe the 1. Click the link for
4. Cost of Goods Sold internal control over Module 12 in MOLE and
5. Payable the major follow the learning
6. Debts components of activities provided. View
7. Equity assets of a the recorded lecture and
business enterprise study the powerpoint
● Understand the presentation provided.
potential 2. The students can
misstatements of work simultaneously in
the asset accounts their google docs file for
and how weakness their assigned individual
in internal control tasks in the module
increases the risks outcome.
of misstatements
● Describe the Offline:
internal control over Read Chapter 16 and
liabilities and equity 17 of the suggested
accounts reference.
● Understand the
potential
misstatements due
to error or fraud
and how weakness
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in internal control
increases the risks
of misstatements

In addition to the above time allotment, 4.5 hours is allotted for major exams, quizzes are embedded.

References:
Cabrera, M., Cabrera, G, Cabrera, B. (2021). Corporate Governance, Business Ethics, Risk Management and Internal Control.

Grading System:
Assignment/Seatwork/Class Participation – 5%
Quizzes - 35%
Prelim 20%
Midterm 20%
Final 20%
Grade 100%
Teacher:

Name: Faith P. Regadio, CPA

Consultation Hours: MTh: 7:30 – 9:00; MTh: 10:30 – 12:00; W: 1:00 – 5:00
Class Schedule: MTh 9:00 – 10:30
MTh 4:30 – 6:00

EXPECTATIONS FROM STUDENT:

It is the responsibility of the student to keep track of the course resources and requirements. The student is expected to login to the MSU-IIT Online Learning Environment
(MOLE) using his/her university email and check for resources and activities at least every class schedule. S/he is also responsible for taking all examinations on the date
scheduled and submitting assignments and other tasks on or before the deadline. The student should read, watch, or listen to the directions and work carefully. S/he may also
ask for help and explanations from the instructor when necessary and discuss work with other students when appropriate. If the student is having difficulty submitting or
accessing the learning materials, he/she should contact the instructor through her university email. But please be aware that the timeliness of the email responses may vary.

CLASSROOM POLICIES
1. Attendance is not based on “seat time,” but instead is based on course activity. Activities that represent online attendance in this course include reading, completing
problem sets, constructive contributions to discussions, and openly reflecting on the learning process.
2. Observe proper netiquette (network etiquette).
a. REFRAIN FROM USING ALL CAPS. IT IS CONSIDERED SHOUTING when communicating online.
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b. Respect others' opinions. If you disagree with what another has said, post your thoughts in an objective, respectful manner.
c. Do not make remarks that can be taken personally. Reflect upon the text you have entered before posting.
d. Keep the discussion within the scope of the course material.
e. Communication should be grammatically correct.
f. Adhere to correct sentence structure, grammar, and spelling conventions.
g. Before you respond to a threaded message, read all the messages related to that message so that you understand the background of the message.
3. Make-up policy – Exam and/or unsubmitted requirements on the due date may be made up, with a legitimate acceptable valid excuse, at an agreed time.
4. Consultation must be done with prior appointment or during consultation hours. All questions to the instructor must be done within Mondays to Fridays and through
(official) university email or MOLE only. The instructor will ensure to reply within two (2) working days. Please send follow up messages/queries only after the two (2)
working days are over.
5. Academic Integrity – Cheating during exams is not tolerated. For other requirements, students are expected to do their own work. Copying from other students or
plagiarizing from published materials or from the Internet is subject to removal from the class and will receive a grade of 5.0 or failure.
6. For late submission of requirements, the concerned students must write a formal e-letter to the official email of the faculty as to the reason(s) of late submission. An
extension of time to complete a requirement may be granted if the reason(s) is(are) valid.
7. The professor reserves the right to modify the syllabus when necessary and demanded by the situation. If a change is made, an e-mail will be sent to all students.

Prepared by: Recommending Approval: Approved by:

August 20, 2021
FAITH P. REGADIO, CPA JESSA MAE S. BANSE, CPA DR. MARIA RIZALIA Y. TEVES
Faculty Department Chairperson College Dean

LEARNING CONTRACT

I have read the course syllabus and I understand that I have to comply with the requirements of the course and the expectations from me as a student of ____________, during the 1st Semester,
AY 2021 - 2022. I am fully aware of the consequences of non-compliance with the above mentioned requirements and expectations.
JADE ANGELIE B. FLORES
_______________________________________
Printed Name and Signature of Student
Date: _____________________
8/26/21