BOC gets clean audit remark from COA

The Bureau of Customs (BOC) said Friday it received an “unqualified opinion” on its financial statements for 2022 from state auditors.

In a statement, the BOC said the audit opinion from the Commission on Audit (COA) indicated “strong internal controls and ensuring the accuracy and integrity of the financial statements.”

“This recognition demonstrates the BOC's full compliance with the International Public Sector Accounting Standards,” the Customs said.

An “unmodified opinion,” also referred to as “unqualified opinion,” is issued by the COA when the state auditors conclude that the financial statements are prepared, in all material respects, in accordance with the applicable financial reporting framework.

Customs Commissioner Bienvenido Rubi said that "after more than two decades, we have been recognized for our audit compliance.”

The BOC said specific recognition was given to the bureau’s Accounting Division of the Internal Administration Group (IAG), the Revenue Accounting Division of the Revenue Collection Monitoring Group (RCMG), and the Collection Districts for their diligent work.

Rubio likewise acknowledged the COA’s Observation Memoranda and audit findings, which provided valuable guidance and served as reminders of the BOC's responsibility for the proper management of public funds and resources.

“The Bureau of Customs remains steadfast in upholding strong financial controls and delivering exceptional services to the public. This recognition from the COA reinforces the BOC's unwavering commitment to transparency, accountability, and responsible stewardship of public resources,” said Rubio. — DVM, GMA Integrated News