May 30, 2024

Bicol Express News

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Vice President Leni receives report card from COA audit: Good!

Relief distribution of the Office of the Vice President. Photo from FB

Vice President Leni Robredo received a good report card from the Commission on Audit (COA), but it did not say “with honors”.

The Office of the Vice President received the highest audit rating from COA for third straight year.

Almost all Government institutions have negative issues discovered by COA audit teams.

According to reports, COA auditors awarded the OVP an “unqualified opinion” rating for “fairly presenting its financial report for fiscal year 2020.”

The rating means the OVP’s financial statements adhere to generally accepted accounting principles, and fairly represent the Office’s financial account.

“The said rating recognizes our organized recording of the office’s finances. We also consider this as the fruit of our hard work in making sure that OVP adheres to the rules and regulations of oversight agencies, and to internal controls to ensure the proper spending of the country’s money,” said a statement from OVP, adding it will take note of COA’s recommendations.