The Office of the Vice President (OVP) received the highest audit rating from the Commission on Audit (COA) for the year 2018.
In a report transmitted to the OVP on Thursday, May 23, the COA rendered an “unqualified opinion” on the fairness of the presentation of the office’s financial statement for the said fiscal year.
An unqualified opinion is considered the best opinion that a government agency can get from state auditors.
“In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the OVP as of December 31, 2018, and its financial performance, statement of cash flows, statement of changes in net assets/equity, statement of comparison of budget and actual amounts for the year then ended, and notes to the financial statements, including a summary of significant accounting policies in accordance with Philippines Public Sector Accounting Standards (PPSASs),” read the Independent Auditor’s Report signed by supervising auditor Edna Salaguban.
Under the leadership of Vice President Leni Robredo, the OVP has observed not only the rules and regulations set by oversight agencies, but also its own internal controls, as it aims to observe a more prudent spending of public funds.