Makati earns COA’s ‘unmodified opinion’ anew
Makati Mayor Abby Binay on Tuesday announced that the city obtained for the second straight year an “unmodified opinion” from the Commission on Audit in its Annual Audit Report on the city’s financial statements for 2018.
In her letter of transmittal dated June 25, COA director Adelina Concepcion Ancajas said the auditor “rendered an unmodified opinion on the fairness of presentation of the financial statements of the city.”
An “unmodified opinion,” also called “unqualified opinion,” is the highest audit rating that can be rendered by an auditor after concluding that the financial statements of the audited entity are presented fairly and in conformity with generally accepted accounting principles.
Binay expressed her elation over the positive audit rating of the city for 2018, and thanked the COA for its fair evaluation.
“I am deeply heartened by this good news from the Commission on Audit. This second unmodified opinion shows that we have remained on course in espousing the principles of good governance, including transparency and accountability,” she said.
The mayor also thanked the various departments and offices of the city government for their support and cooperation in ensuring full compliance with laws on the disbursement of government funds and implementation of programs and projects.
“Getting an unmodified opinion for two years in a row is a rare achievement, and I am proud to share the honors with my fellow city officials and public servants of the City of Makati,” Binay said.
For the past three years, the city government has implemented reforms aimed to enhance transparency and efficiency in the systems and operations at City Hall.