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Manila Bulletin

Philippines

COA cites Parañaque LGU for transparency in financial statement report

Philippines

COA cites Parañaque LGU for transparency in financial statement report

By Jean Fernando

The Commission on Audit (COA) cited the Parañaque city government for its fair and transparent financial statement report on Tuesday, June 21.

Mayor Edwin Olivarez and City Administrator Fernando Soriano. (Photo from Parañaque PIO)

Mayor Edwin Olivarez thanked National Capital Region (NCR) COA Director IV Atty. Maria Carmina Paulita Jaguilon- Pagayawan for naming Parañaque City as one of the local government units with fair and transparent financial statement report.

Olivarez received a letter from Pagayawan dated June 16 stating: the “auditor rendered an unmodified opinion on the fairness of the presentation of the city’s financial statements in view of the significance of the exceptions in the audit as stated in the Independent Auditor’s Report.”

The mayor explained the audit observations and the recommended courses of action with the concerned management officials and staff on May 17.

Olivarez said the COA acknowledged the support and cooperation extended by city government officials to the audit team in facilitating the submission of the report.

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fair and transparent financial statement report COA

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