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Manila Bulletin devider Philippines devider Metro Manila devider Parañaque LGU receives high marks from COA

Parañaque LGU receives high marks from COA

Published May 21, 2024 11:07 am

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Mayor Eric Olivarez (Photo from Parañaque PIO)

The Parañaque city government, for the third time, has received the unmodified opinion from the Commission on Audit (COA) which is the highest rating given to a local government unit (LGU) by the agency.

Parañaque City Mayor Eric Olivarez said the rating given by COA showed that the city government's financial statement was fairly evaluated in accordance with the financial reporting frame work, defined as a set of criteria used to determine measurement, recognition, presentation and disclosure of all material items appearing in the financial statement.

Olivarez said the audit report findings showed that there were no significant incorrect in the declaration and all financial transactions are well accounted.

He then thanked City COA Auditor Noel Jacob, Accounting Office head Malou Tanael, and all department heads for their hard work to achieve the rating for the third time.

 

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