Robredo: COA finds OVP financial statement above board for fourth straight year

The Commission on Audit (COA) has granted an unqualified opinion on the financial statement of the Office of Vice President for the fourth straight year, Vice President Leni Robredo said Wednesday.

"We were granted an unqualified opinion by the Commission on Audit for the fourth straight year!" Robredo said in a statement, referring to years 2018 to 2021.

The COA issues an unmodified opinion or unqualified opinion when the state auditor "concludes that the financial statements are prepared, in all material respects, in accordance with the applicable financial reporting framework."

"What a fitting exclamation point to our six years at the OVP. We really tried our hardest to make the OVP a model office. On COA, we really worked to make the process compliant to get an unqualified opinion," Robredo pointed out in a separate interview with reporters.

"Hindi naman ‘yun perpekto kasi meron ding siyempre mga comments ‘yung COA pero nagiging unqualified siya kapag ‘yung comments sa COA o recommendations hindi siya gano’n kalaki para ma-taint ‘yung, parang ‘yung rating ng COA," she added.

(We were not perfect, COA also had comments and recommendations, but it did not reach a point wherein it will taint our good COA rating.)

The COA, however, only issues an unqualified or qualified opinion on the Financial Audit part of the Annual Audit Report on government agencies, including the Office of the Vice President.

Other parts of the Annual Audit Report include Performance Audit and Compliance Audit.

The auditor’s evaluation of the Financial Audit aspect, under COA policy, includes due consideration on quantitative and qualitative materiality established based on the prescribed COA’s audit guidelines.

In a statement on its website, COA clarified that an audit opinion “should not be viewed as a rating, score or grade, with ranking of lowest to highest,” stressing that it only pertains to the financial audit done by state auditors on the agencies.

“It is important to note that the financial statements represent only a facet of an agency and that an audit opinion does not provide any conclusions on the agency’s level of compliance with laws, rules and regulations, nor the application of the principles of economy, efficiency, and effectiveness in the agency’s operations. Such matters are covered by the compliance and performance audits, respectively, which are conducted by the COA in addition to financial audit,” COA said.

Robredo earlier said that she will be leaving the OVP with a legacy of turning the office to an advocacy-driven unit that transforms communities for the better led by its anti-poverty unit Angat Buhay.—AOL, GMA News