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Manila Bulletin devider Business devider The Stock Market devider SEC gets COA good housekeeping stamp for 7 years under Aquino

SEC gets COA good housekeeping stamp for 7 years under Aquino

Published Jun 5, 2025 02:25 pm
The Securities and Exchange Commission (SEC) boasts of a seven-year streak in receiving a good housekeeping mark from the Commission on Audit (COA), with unmodified opinions for its financial statements, under the leadership of Chairperson Emilio B. Aquino.
The Commission on June 2 received confirmation that the COA rendered an “unmodified opinion,” also known as an “unqualified opinion,” on the fairness of the presentation of the Commission’s 2024 financial statements.
An unmodified opinion is given when auditors conclude that the financial statements as a whole are free from material misstatements, which could arise from either error or fraud, according to the International Public Sector Accounting Standards.
“As corporate registrar and capital market regulator, it is only fitting that the SEC uphold the highest standards of transparency and accountability in the management of public funds,” said Aquino, who is the first certified public accountant and lawyer to serve as SEC chairperson.
He added that, “This affirms our steadfast commitment to transparency, accountability, and sound fiscal management in serving the public trust. We hope that by leading by example, the corporate sector is able to follow suit in exercising sound fund management in their overall operations.”
The SEC also received an unqualified opinion on the fairness of presentation of its financial statements for the years starting 2018 to 2023. This stands as the longest streak of unqualified opinions the Commission has received over the past decade.
The SEC has continuously advocated for good governance and transparency in handling funds to build and maintain public trust in the institution.
Following the nomination of COA, the SEC was named an Outstanding Accounting Office by the Association of Government Accountants of the Philippines twice in 2021 and 2023.
Aquino was likewise given the Accountancy Centenary Award of Excellence during the accountancy profession’s 100-year anniversary this year.
In May, the SEC received the 3G Leadership Award for Advocacy and Commitment to Corporate Governance from London-based Cambridge International Finance Advisory.

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Securities and Exchange Commission Emilio B. Aquino
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