PDEA gets highest COA rating – chief | Inquirer News

PDEA gets highest COA rating – chief

By: - Reporter / @zacariansINQ
/ 05:39 PM June 13, 2022

PDEA gets highest COA rating – chief

This file photo shows PDEA Director General Wilkins Villanueva during a hearing at the Senate. INQUIRER FILE/ MARIANNE BERMUDEZ

MANILA, Philippines —  The Philippine Drug Enforcement Agency (PDEA) on Monday said it received the highest audit rating from the Commission on Audit (COA), citing the fair presentation of its financial reports and records.

According to PDEA. the COA gave them an “unmodified opinion” since their financial statements were presented “fairly and in accordance with the International Public Sector Accounting Standards (IPSASs).”


“It is the highest audit opinion that the COA can render to a government agency. It means that all our financial records are in order and in accordance with their auditing rules and procedures,” PDEA Director General Wilkins Villanueva said in a statement.


“Having been IPSASs-compliant – a set of accounting standards issued by the IPSAS Board for use by the public sector entities around the world in the preparation of their financial statements, PDEA is truly a top-notch organization when it comes to the preparation of financial statements,” he also said.

The PDEA said COA obtained audit evidence based on the financial position of the agency as of December 31, 2021 – which comprised statements of financial performance; cash flows; changes in net assets/equity; comparison of budget, and actual amounts for the year then ended; and notes to the financial statements, including a summary of significant accounting policies. These, the PDEA noted, were sufficient and appropriate to provide a basis for an “unmodified opinion.”

“The recognition is a true reflection of PDEA’s commitment to serving the public with the same core values ingrained in our cultural cornerstones: professionalism, dynamism, excellence, and accountability,” Villanueva said.


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TAGS: audit report, COA, PDEA

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