Published: 17 September 2021
Commission on Audit (COA) Chairperson Michael G. Aguinaldo discussed the constitutional mandate of the COA as guest speaker at the 9th General Membership Meeting of the Financial Executives Institute of the Philippines (FINEX) held on 15 September 2021 via Zoom.
FINEX recently spearheaded strong support for the Commission and called to uphold the audit independence of COA.
Chairperson Aguinaldo’s presentation included the history of the COA, its major functions, the types of audits that COA conducts, the constitutional mandate and duties of COA, and myths and misconceptions about the Commission.
A panel discussion with FINEX Vice President Atty. Euney Marie Mata-Perez as the moderator and Ms. Corazon S. Dela Paz-Bernardo, Honorary President of the International Social Security Association and Mr. Eduardo H. Yap, President and CEO of Clairmont Group, as panelists were held after the Chairperson’s presentation.
Subjects discussed included how COA conducts its audits during the lockdown period, the issues involving the audit of government agencies such as the Department of Health and non-government organizations such as the Philippine Red Cross, how auditors are protected when audit reports become controversial, and other issues that the COA is facing during this time.
Chairperson Aguinaldo shared that COA auditors need a lot of support not only through lip service but also, most importantly, in action. A simple call asking how they are and assuring them of support mean a lot to them.
FINEX President Atty. Francisco Ed. Lim called the meeting to order while former FINEX President Mr. Edwin V. Fernandez acted as host. After the panel discussion, Atty. Lim presented Chairperson Aguinaldo with a Plaque of Recognition.
Also during the meeting, FINEX welcomed newly inducted members Mr. Cliff Cabungcal of PJ Lhuillier Group of Companies, Ms. Vivian Sta. Maria of Generika Drugstore, and Mr. Laurence Tiquia of Toyota Sta. Rosa, Laguna. #