Makati gets highest rating from COA
Credit to Author: besguerra| Date: Tue, 02 Jul 2019 21:02:48 +0000
MANILA, Philippines — For the second year in a row, the Makati City government has gotten an “unqualified opinion” from the Commission on Audit (COA) which examined its 2018 financial statements.
In a transmittal letter dated June 25, COA director Adelina Concepcion Ancajas said it “rendered an unmodified opinion on the fairness of presentation of the [city’s] financial statements.”
An unmodified or unqualified opinion is the highest audit rating that can be attained, meaning the audited financial statements were presented fairly and in conformity with generally accepted accounting principles.
“I am deeply heartened by this good news from the [COA],” Mayor Abby Binay said in a statement on Tuesday. “This second unmodified opinion shows that we have remained on course in espousing the principles of good governance, including transparency and accountability.”
She attributed the feat to the implementation of reforms at city hall to enhance efficiency and transparency.
These included the “no-contact” policy when transacting business at city hall, particularly in the processing and renewal of business permits, in addition to the elimination of fixers.
Last year, COA gave the city its first-ever unqualified opinion when it looked into Makati’s 2017 financial statements.