Office of the VP gets highest audit rating from COA for 2018

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

Citing a COA report, the OVP said, state auditors 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, the OVP said in a statement.

“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 state auditor’s report signed by supervising auditor Edna Salaguban.

Under the leadership of Vice President Leni Robredo, the OVP said it 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. —Ted Cordero/LBG, GMA News