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3225_6_Hadji Azis_Our study will use semi-structured interviews with experts from the Economic Governance of Bogo City to explore various aspects of the city's economic development, governance practices, and the challenges faced by local authorities, particularly in relation to fiscal responsibility_Fuzzy DEMATEL Theory

3225_6_Hadji Azis_Bardon_Our study will adopt a pragmatism philosophy, emphasizing the practical application of knowledge to explore how the sub-areas of Economic Governance in Bogo City contribute to fiscal responsibility_We opt to use the mixed-method approach in gathering datas.

3225_6_Hadji Azis_Bardon_What are the activities under the Agriculture Sector of Bogo City that contributes to fiscal responsibility_To know the interrelationship between economic governance and fiscal responsibility.

3223_5_Jabel_Pepito_Our study will utilize modified survey questionnaires adapted from reliable instruments and a 5-point Likert Scale _Structural Equation Modeling(SEM)

3223_2_Villasurda_Rances_Our study will use a survey questionnaire to collect data from Filipino external auditors. The survey will include two main sections: one measuring Pakikisama levels using Schwartz’s Portrait Values Questionnaire (PVQ-RR) and the other assessing auditor independence (both in fact and in appearance) with a self-developed scale based on IESBA 2020 standards. And employ purposive random sampling_Analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) through JASP software.

3224_2_Villasurda_Rances_ Positivism is the chosen research philosophy, focusing on observable and measurable data. It emphasizes objectivity and uses empirical evidence to understand the influence of Pakikisama on auditor independence. _ Our study follows a quantitative and deductive approach.

3224_2_Villasurda_Rances_ How does Pakikisama influence the independence of external auditors, both in fact and in appearance, within the context of auditing practices in the Philippines?_To examine the impact of Pakikisama on the independence of external auditors in the Philippines.

3223_2_Villasurda_Villasurda_Our study will use a modified and self-developed survey questionnaire which will be rated on a 6-point Likert scale_Structural Equation Modeling

3223_2_Villasurda_Villasurda_Our study will adopt a positivist research philosophy as we aim to explore the impact of Filipino cultural value, Pakikisama, on auditor independence_Mono Method_Quantitative

3223_2_Villasurda_Villasurda_What are the specific effects of pakikisama on auditors' ability to maintain independence when deciding whether to disclose irregularities or errors in audits involving familiar individuals or organizations?_To explore the effects of the four dimensions of basic human values for measuring Pakikisama on auditor independence.

3222_7_Yurag_Azarcon_What factors in deciding to avail the income tax incentive for BMBEs weigh more into the decision making process of BMBEs who availed and who did not avail?_To understand on how BMBEs weigh the benefits and costs in their decision-making process in availing the income tax exemption and ranking the cost and benefit in accordance to their perceived bearing or importance.

3222_7_Yurag_Azarcon_Saaty's Pairwise Comparison Questionnaire (on-site)_Analytical Hierarchy Process

3225_7_Mabuyo_Temporada_The study employed adapted Likert-scale survey questionnaires, derived from validated measurement instruments_Structural Equation Modelling (SEM)

3225_7_Mabuyo_Temporada_We employ a positivist approach to examine how corporate risk management influences tax compliance, using measurable and objective data_Mono Quantitative Method

069_ Accountants are required to maintain professional conduct and refrain from actions that could damage the profession's reputation. Although marketing or advertising accounting services is allowed in the Philippines, it is subject to stringent regulations to prevent any content or statements that could undermine other accountants or firms.

041_The Code of Ethics establishes behavioral standards for professional accountants, particularly those in public practice, to uphold integrity and trust with the public.

041_ There are three audit procedures that are commonly performed: (1) Inquire of management, TCWG, and legal counsel (2) Read minutes (3) Review management’s procedures to identify subsequent events.

147_ The main distinction between error and fraud is that the intention behind the act. Error is simply a mistake committed while fraud is intentional to do what is not just and right.

147_In the transition to PSQM 1 & 2 and PSA 220, the integration of a Risk Assessment Process represents a significant enhancement in quality management. This addition mandates that firms systematically identify, evaluate, and mitigate risks that could impact product safety and quality. By incorporating proactive risk management strategies, organizations can better anticipate potential issues.

_147 A Code of Ethics is crucial for CPAs because it ensures professionalism, integrity, and accountability in their work. It helps maintain public trust, guides ethical decision-making, ensures compliance with legal and regulatory standards, and protects both clients and the profession from misconduct.

078_Management is the primary source of information and also primary responsible of the financial statements

137_Confidentiality is one of the core ethical principles in auditing, emphasizing the obligation of auditors to maintain the privacy of all information they encounter, both during and after the audit process. Auditors must refrain from disclosing sensitive data unless they have explicit authorization or a legal requirement. This principle ensures that trust is upheld and that the integrity of the audit process is preserved by safeguarding the information provided by clients.

065_The responsibility for the prevention of fraud, error and non compliance rests with the management and those charged with governance. The only thing that the auditor is responsible with is the detection of material fraud, error and non compliance.

062_Fraudulent Financial Reporting is also called Management fraud since its is the management that has the ability to make changes to the Financial statements, but it does not mean they are incapable of misappropriating assets (Employee Fraud).

062_Part 3 of the Code of Ethics emphasizes the need for auditors to avoid circumstances that may actually impair their independence and circumstances where a reasonable third person may conclude the same.

062_Under the new PSQM 1, & 2; The firm are now required to integrate some of the components of internal control, specifically, the risk assessment process (specifically on quality risks), and the information and communication system.

079_ Pressure/Incentive, Opportunity, and Attitude/ Rationalisation are elements that consist of the Fraud Triangle

079_ Here are the 5 fundamental ethical principles 1. Integrity 2. Professional Competence & Due care 3. Professional Behaviour 4. Confidentiality 5. Objectivity

079_ In related party transaction, it is assumed, that certain favourable agreements exist between the parties as compared to external ones. Thus, the idea of arms length transaction does not exist in related party transactions

079_Subsequent events can be any of the two: 1st is the type 1 wherein adjustments are needed and type 2 wherein no adjustments are needed, only disclosures. The main criteria to look at is if the condition causing the event existed before the balance date, it needs adjustment. If it happened after, then it is a type 2 where only disclosure is required

053_ Misappropriation of assets is usually attributed to employee fraud, but may aslo be commited by management.

053_Professional accountants will be exposed to sensitive information that’s why it is his responsibility to respect the confidentiality. It exist even after the end of the engagement. However, it is not privilege because there are legal or professional requirements which will force the accountant to divulge the sensitive or vonfidential information.

027_The completion phase is crucial for ensuring all audit elements are thoroughly addressed before finalizing the report. Auditors evaluate management’s assessment regarding going concern status, focusing on material uncertainties that may affect financial stability. This process is essential for stakeholder confidence.

082_Fraud and error differ primarily in intent. Fraud is intentional, while error is not; thus, making it crucial for auditors to apply professional skepticism and judgment to detect material misstatements, while management holds ultimate responsibility for preventing these issues.

082_The Code of Ethics 2020 edition emphasizes the importance of applying a conceptual framework where professional accountants must identify, evaluate, and address threats to ethical principles like integrity and objectivity, making it clear that there's no one-size-fits-all rulebook but a responsibility to exercise judgment in maintaining ethics.

082_The shift from ISQC to ISQM focuses on managing risks to quality proactively instead of just controlling them, with ISQM 1 introducing a firm-wide risk assessment process and ISQM 2 focusing specifically on engagement quality reviews.

006_material mistatement comes from fraud, error and non comoliance. What differentiates the tthree is that error and fraud are differentiated withthe intent.however Non compliance may be Intential or Unintentional.

006_ Under the 5 fundamental ethical Principles is the confidentiality. As professionals in accounting field we are most likely to get exposed or handle confidential matters or information. We are reminded that at all time even durinf social situations or after engagement, we still have a duty of confidentiality. However, few instances can also move the confidentialy principle for example whrn their a legal duty to disclosed such info.

006_ Under PSQM 1, PSQM 2 and PSA 220 there are additional Component to the system of quality management which are part of internal control system namely: Risk assessment process and Infomation& communication. In the Risk assesment process, it is implicitly stated that a FIRM must design a RAP about its quality manangement. While imformation& communication is about obtaining, communicationg information whether it is outbound or inbound similar to internal conteol system

053_ECQR must have the necessary technical expertise, competence, and objectivity. ECQR should not be part of the engagement team being reviewed.

132_Five common threats to auditor independence and objectivity include self-interest, self-review, advocacy, familiarity and intimidation threats, which can compromise audit quality and reliability.

132_With regard to business, fraud does not solely apply to employees but also to management. Management can embezzle funds through journal entry manipulation, ledger tampering and may it be through misrepresenting financial performance or position.