OVP scores 'unmodified opinion' from COA for 2024

The Office of the Vice President (OVP) has received an "unmodified opinion" from the Commission on Audit (COA) for the third consecutive year.

In its 2024 annual audit report, the COA stated that the financial statements of Vice President Sara Duterte's office present "fairly, in all material respects, the financial position of OVP as of December 31, 2024."

The state auditors also said that the OVP's "financial performance, cash flows, changes in net assets/equity, and comparison of budget and actual amounts for the year then ended, and notes to the financial statements, including a summary of significant accounting policies are in accordance with International Public Sector Accounting Standards."

The OVP, for its part, said that the COA's unmodified opinion for 2024 highlights its "continuing commitment to transparency, accountability, and the judicious use of public funds, as well as compliance with the principles of good governance and sound financial administration upheld by state auditors."

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."

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 OVP. 

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

The COA has 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.

To recall, the House of Representatives impeached Duterte on February 5, with over 200 lawmakers endorsing the complaint. On June 10, the Senate impeachment court convened, with the trial proper expected to begin in the 20th Congress. 

Among the seven articles of impeachment against Duterte was the alleged malversation of P612.5 million in confidential funds with questionable liquidation documents.  Duterte denied the allegations. —LDF, GMA Integrated News