APPLIED AUDITING

1. What is the most important knowledge you were able to generate from
taking Applied Auditing? Please explain.
Applied Auditing is a comprehensive subject of FAR. While taking this subject,
I was able to learn theoretical knowledge such as how the elements of the
financial statements affect other elements and the financial statements as a
whole, technical skills such as preparing bank reconciliation, proof of cash,
aging of receivables, and PPE schedule, and acquire soft skills like being keen
to details and in analyzing.
2. Did the subject meet your expected learning outcomes? Why/why not?
The subject was able to meet my expected learning outcomes because: (1) it
was able to polish my knowledge in financial accounting and auditing theory,
(2) the process how professionals conduct an audit and the necessary audit
procedures, among others, were discussed, and (3) I was able to learn
necessary knowledge which are very critical to master for the upcoming CPA
licensure examination and which I will be able to use in my future work.
3. Were the contents/scope of the subject relevant to your objective? (e.g.
to become CIA, CPA, ACCA etc.) Why/why not?
Yes. As auditing, which composes applied auditing and auditing theory, is a
subject in the CPA licensure examination, learning the contents of the subject
is very important in order to pass. Also, the knowledge we learned on this
subject will be very useful when I take the Certified Internal Auditing
examination in the future.

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4. Did the subject develop your competencies? Why or why not?
a) Critical Thinking: Yes, as this was honed when I analyze auditing
problems, specially the control deficiency in a client and on what auditing
procedures are most appropriate in a given situation.
b) Problem Solving: Yes, because we were able to solve complicated
problems which necessitate careful analyzation as every situation has
different ways on how to solve it.
c) Intellectual Curiosity: Yes, because when we studied the subject,
professional skepticism is important as each problem, most of the time,
looks simple and easy but requires deep understanding and analyzation.
5. Did the subject encourage the students’ active involvement in learning?
Why/why not?
Applied Auditing promotes effectiveness and efficiency in practicing how to
answer different types of questions correctly in a short span of time, so that
student will have mastery of the subject. The subject encouraged active
involvement in learning, requiring students to engage with others to understand
and discuss topics.