- Affirms financial records submitted by VP Sara Duterte are accurate
By Ivy Tejano
DAVAO CITY – The Office of the Vice President (OVP) under Vice President Sara Z. Duterte has once again obtained the highest audit rating from the Commission on Audit for 2024, marking its third consecutive year of receiving an unmodified opinion on its financial statements.
In its latest annual audit report, the COA confirmed that the financial documents of Vice President Duterte’s office were accurate, complete, and fully compliant with existing laws, regulations, and accounting standards as of December 31, 2024.
The state auditors said the OVP’s financial performance and reporting—including cash flow, net assets or equity changes, budget execution, and accompanying notes—complied with the International Public Sector Accounting Standards.
“We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our unmodified opinion,” the report stated, adding that the financial statements “present fairly, in all material respects.”
The COA also noted that the OVP achieved an 85.55 percent budget utilization rate under the 2024 General Appropriations Act. According to auditors, this reflects prudent fiscal management amid expanded operations and growing public service requirements.
An unmodified opinion from COA indicates that the financial records adhere to the International Public Sector Accounting Standards and the International Standards of Supreme Audit Institutions, showing no material misstatements or discrepancies.
The OVP welcomed the audit outcome, emphasizing that the recognition reaffirms its ongoing commitment to transparency, accountability, and efficient use of public funds, as well as compliance with the principles of good governance and sound financial administration upheld by state auditors.
COA clarified that its issuance of an unmodified or qualified opinion applies solely to the financial audit component of the agency’s Annual Audit Report, such as in the OVP case.
The full report also includes separate sections on performance and compliance audits, which are evaluated independently of the financial audit.
COA emphasized that an audit opinion should not be interpreted as a rating, score, or grade, nor should it be used to rank agencies. Instead, it strictly reflects the outcome of the financial audit conducted by state auditors.
