I consider my experience in Commission on Audit on Leyte Normal University strenuous

yet conducive on my chosen career path.

Taking up this course subject THESIS 2 (On-the-Job Training), Saint Paul School of
Professional Studies gave us the opportunity to work with actual employees serving in the
government, I get to have a glimpse on how they do their work and all the technicalities
involved and also the opportunity to work with seasoned professionals who taught me how to
easily grasp complex situations and at certain times, how to roll with the punches in order to
achieve certain objectives. There may be times when we get to do a small job, but there is no
small or big job for a determined learner. I make sure that before I depart from the office, I
have learned something that will improve my working skills.

Reading and familiarizing the different Fund Clusters and what account titles they use
are some the things I did during the first week. It is imperative to be familiar with the different
fund clusters because they, the employees, most of their job like making Financial Statements
and Audit Report boils down with these clusters. They serve as their source documents in
coming up with the amounts in the Financial Statements and serves as a basis on forming an
objective opinion on the fairness of other Financial Statements given by the Palompon Institute
of Technology (PIT). Focusing on the custody and administration of public funds, COA-LNU uses
different kinds of account titles that they use in classifying, analyzing and communicating all
transactions within the LNU, thats why it is significant to understand the nature and how to
account them.

Leyte Normal University and Palompon Institute of Technology also request audits. An
audit involves evaluating all of their financial information- bank statements, accounting records
and so forth. I summarize different kinds of reports like Report on Disbursement Account
(RADAI), Report of Checks Issued (RCI) and Report on Liquidation for Fund Cluster 01 or the
General Fund to be able to arrive with the proper amounts in their Financial Statement. As an
aspiring accountant it is very helpful for me to know these things, how the technicalities work,
the flow of approving certain projects, analyzing bank statements, accounting records by
tracing them from their source documents. Accountants are an integral part of the budget and
financial declaration process, agencies and even universities depend on their accountants as
they plan their activities over a given fiscal year, quarter or other specified period. Accountants
also make a report on how agencies fund are allocated and many of these reports are open to
potential and existing users like investors, other creditors, public, customers, employees and
suppliers who are interested on how the government spends its money. Their reason for these
reports depends on what kind of user they are although some are interested on these reports
because they contain information pertaining to national security.
Commission on Audit under Leyte Normal University (LNU) serves as the best training ground
for an aspiring government employee like me. They provide strenuous workload but very
essential in developing my working experience. Their accounting and audit process is quite
complex and challenging which is very well-matched with my career path. They provide step by
step instruction on their flow of accounting process and while instructing they explain the
importance and significance of those particular documents thatll serve as a guide in making
detailed Financial Statement.

Their audit process is what Im most interested of. Audit is when your provide an objective
opinion on the fairness of the Financial Statement, fairness in a way that will help the users of
their Financial Statement without bias and free from error. COA-LNU provides the most
important supervision in needed to be able to know these things. They taught me how to
formulate an objective opinion- in a scratch, but substantial for me. Somewhat I get to know
the feeling what its like to be an auditor which is a very tiresome job to say the least. They also
taught me that being an auditor is more of an observer but you have to be skeptic. Above all
the ethical behavior, you apply professional skepticism.

The management flow in COA-LNU is very smooth-flowing in a way that although their process
is very complex, they have a way to explain it to me in a way that I can understand it in a very
simple way in my level of knowledge. COA-LNU is composed of three members, one audit
leader Maam Arlene Manatad their Audit leader and two audit members Maam Ester who is
assigned to balancing accounts and others and Maam Roby who is in charge with the
technicalities in the whole office, from posting, tracing, footing up to preparing the Financial
Statement to be passed to the Regional Office for confirmation. Proper separation of duties is
what I observed in COA-LNU. They have separate person who are assigned in authorization of
documents like proposed construction project for the school, the bidding of prices, materials
and everything there is to authorize in proposing a project. They also have a distinct person
assigned in recording transactions and a separate person for the custody of documents, the
receiving of documents. It is imperative that these duties are separated to avoid conflict and
fairness of documents is achieved. Assigning different people the responsibilities of authorizing
transaction, recording transactions, and maintaining custody of assets is intended to reduce the
opportunities to allow any person to be in a position to both perpetrate and conceal errors or
fraud in the normal course of the persons duties. Examples of segregation of duties include
reporting, reviewing and reconciliations, and approval and control of documents.