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COA flags P710M given to execs, workers in gov’t firms

/ 05:35 AM October 31, 2018

The Commission on Audit (COA) has questioned at least P710 million in employee benefits paid by government-owned and controlled corporations (GOCCs) in 2017 without legal basis.

In its 2017 Annual Financial Report for GOCCs, the COA flagged the unauthorized payment of P593 million to trustees, directors, officers, employees and contractual workers of 17 state-owned companies.

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The COA said the companies should have secured the approval of the Office of the President or the Governance Commission for GOCCs and discontinued payments that lacked legal basis or authority.

The National Irrigation Administration, the Land Bank of the Philippines and the moribund Intercontinental Broadcasting Corp. led the list with P250 million, P196 million and P48 million in questionable payments.

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Also called out by the COA were Government Service Insurance System, P22 million; National Home Mortgage Finance Corp., P22 million; National Electrification Administration, P20 million; Philippine Center for Economic Development, P10 million; People’s Television Network, P10 million; APO Production Unit Inc., P3.7 million; Philippine National Construction Corp., P2.6 million; National Dairy Authority, P2.5 million; and Trade and Investment Development Corp. of the Philippines, P2 million.

The COA also questioned the payment of P117 million in representation and transportation allowances, telephone and gasoline expenses and overtime.

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TAGS: COA, Commission On Audit, GOCCs, IBC, Intercontinental Broadcasting Corp., Land Bank of the Philippines, National Irrigation Administration, NIA, unauthorized employee benefits
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