Office of the Vice President gets highest audit rating from COA for 2018

ABS-CBN News

Posted at May 25 2019 07:06 PM

Office of the Vice President gets highest audit rating from COA for 2018 1
The Office of the Vice President cited a Commission on Audit report giving an “unqualified opinion” in the OVP's fairness in presenting its 2018 financial statement. File/Jonathan Cellona, ABS-CBN News

MANILA—The Office of the Vice President on Saturday said it received the highest audit rating from the Commission on Audit (COA) for 2018.

The OVP, in a statement, cited a COA report giving an “unqualified opinion” in the OVP's fairness in presenting its 2018 financial statement

An unqualified opinion is considered the highest opinion that state auditors could give government agencies.

“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),” the report signed by supervising auditor Edna Salaguban read.

The OVP said it aims to "observe a more prudent spending of public funds" under the helm of Vice President Leni Robredo.