On November 25, 2023, the School of Business Administration and Accountancy (SBAA) hosted a webinar entitled “Cracking the Audit Code: A Deep Dive into Assurance Practices” via Zoom to delve into the intricacies of this crucial field that addresses the United Nations Sustainable Development Goal No. 8 – Decent Work and Economic Growth among the student attendees, a majority of whom were interns. A total of 98 participants, composed mainly of accountancy and business administration students, took part in the webinar.
During the opening remarks, the significance of auditing in safeguarding the organization’s financial integrity and operational efficiency was emphasized. Following this importance of auditing, an institution must aim for a peaceful but effective organization
Mr. Villanueva commenced his discussion by introducing the concept of an organization and the fundamental framework for understanding the flow of business activities within an organization. Moving forward, Mr. Villanueva elaborated on the lines of defense within an organization, explaining that internal auditing plays a crucial role as the third line of defense. He distinguished between assurance and non-assurance engagements, outlining the different types of assurance engagements. To address the evolving nature of business, Mr. Villanueva advocated for auditors to acquire proficiency in both IT audit and traditional audit, enabling them to adapt to the diverse needs of their clients (SDG 8 Decent Work and Economic Growth). At 11:30 AM, he concluded his presentation by revisiting the pre-registration questions and providing comprehensive answers, ensuring the participants gained a thorough understanding of the key concepts.
In a gesture of appreciation, a certificate of appreciation was given to Mr. Rodel P. Villanueva, as awarded by one of the organizers, expressing gratitude for his outstanding contribution as the guest speaker.
To conclude the webinar, the moderators expressed appreciation to the participants, guest speaker, Accountancy program chair Dr. Candido Perez, UB chapter of Junior Philippine Institute of Accountant (JPIA) officers and members, and co-organizers for their contributions to the event’s success. Lastly, the organizers shared an evaluation form with the participants, which will be the basis for giving the certificate of participation.
Written by Julianne Mary Cabo & Cherry Ann Guitoc
