Published: 22 June 2022
Given the misconception that the use of the phrase “highest COA audit rating” may cause and its potential impact to decision makers and the public, the Commission on Audit (COA) would like to clarify again that an audit opinion should not be viewed as a rating, score or grade, with ranking of lowest to highest.
An audit opinion pertains only to the financial audit conducted regularly by COA auditors on the agencies within its jurisdiction. It may be unmodified or modified, depending on whether an agency’s financial statements are prepared, in all material respects, in accordance with the applicable financial reporting framework.
An unmodified opinion (also referred to as unqualified opinion) is issued when the auditor concludes that the financial statements are prepared, in all material respects, in accordance with the applicable financial reporting framework. Meanwhile, a modified opinion – includes qualified, adverse and disclaimer of opinion - is issued when the auditor concludes that, based on the audit evidence obtained, the financial statements as a whole are not free from material misstatement; or is unable to obtain sufficient appropriate audit evidence to conclude that the financial statements as a whole are free from material misstatement.
The Philippine Commission on Audit (COA) was voted as a member of the Asian Organization of Supreme Audit Institutions (ASOSAI) Governing Board in New Delhi, India.
The 16th Assembly of the ASOSAI gathered key representatives from across Asia to discuss important audit issues and set the direction for the organization. The ASOSAI is a key regional entity under the International Organization of Supreme Audit Institutions (INTOSAI). Founded in 1979 with 11 members, ASOSAI has since grown to include 47 Supreme Audit Institutions (SAIs) from across Asia.
COA Commissioner Roland Café Pondoc, who headed the Philippine delegation to the Assembly, said that being elected as a member of the ASOSAI GB is one of the highlights of the Assembly, which involved filling seven vacant posts for the GB. Other countries elected to the GB together with the Philippines were Azerbaijan, Kazakhstan, Korea, Malaysia, Pakistan and the United Arab Emirates.
Commissioner Roland C. Pondoc and Assistant Commissioner Alexander B. Juliano lead the groundbreaking ceremony for the Provincial Satellite Auditing Office in Siquijor. Joining them are Siquijor Governor Jake Vincent S. Villa, Atty. Jielsen Dale L. Bababaran, GSO Director Amelia P. Valdez, EBMD GSO OIC-Division Chief Ar. Emiterio C. Nolasco, COA Region VII Director Visitacion Q. Mendoza, Assistant Director Eva P. Cabrera, and Engr. Christopher Y. Ursal.
The Commission on Audit (COA) held a groundbreaking ceremony for the new COA Provincial Satellite Auditing Office (PSAO) in Siquijor recently. COA Commissioner Roland C. Pondoc with Assistant Commissioner Alexander B. Juliano, COA Region VII Director Visitacion Q. Mendoza, Assistant Director Eva P. Cabrera and COA General Services Office Director Amelia P. Valdez led the ceremony. Honorable Governor Jake Vincent S. Villa and the Municipal Mayors of Siquijor also graced the event.
As Senior Commissioner of the Commission on Audit (COA), Commissioner Roland Café Pondoc is set to lead the COA delegation to the 16th Assembly of the Asian Organization of Supreme Audit Institutions (ASOSAI) in New Delhi, India from September 21 to 27, 2024. The Assembly will gather key representatives from across Asia to discuss important audit issues and set the direction for the organization.
The ASOSAI is a key regional entity under the International Organization of Supreme Audit Institutions (INTOSAI). Founded in 1979 with 11 members, ASOSAI has since grown to include 47 Supreme Audit Institutions (SAIs) from across Asia.
Commissioner Pondoc, who is the incumbent President of the Philippine Institute of Certified Public Accountants (PICPA), in his article under the PICPA Talks column recently published in the Manila Bulletin, emphasized that COA has been an active member of ASOSAI for many years. He further mentioned that COA has signified its intention to be elected as a member of the ASOSAI Governing Board (GB). The election, as one of the highlights of the Assembly, will involve filling seven vacant posts for the GB and two vacant posts for the Audit Committee. As stipulated in the Association of Supreme Audit Institutions of the ASEAN (ASEANSAI) Executive Committee Work Plan for 2024-2025, COA will represent as the incumbent Chair of the ASEANSAI. On behalf of COA Chairperson Gamaliel A. Cordoba, Commissioner Pondoc’s guidance will be pivotal in representing the Philippines and advocating for the country's interests within ASOSAI’s framework.
COA Chairperson Gamaliel A. Cordoba (seated, center) with Commissioners Roland Café Pondoc and Mario G. Lipana join Assistant Commissioner Martha Roxana C. Sese and the new Board of Trustees of the Association of National Government Sector Auditors, Inc. after the oath taking ceremony at the COA Commission Proper Boardroom on 31 July 2024.
Commission on Audit (COA) Chairperson Gamaliel A. Cordoba recently administered the oaths of office to newly elected members of the board of trustees of the Association of National Government Sector Auditors, Inc. (ANGSAI).