Mandaluyong gets highest COA rating
MANILA, Philippines — The city of Mandaluyong received the highest rating from the Commission on Audit (COA), said its local government on Tuesday.
According to the local government of Mandaluyong in a statement, the city received an “Unmodified/Unqualified Opinion” based on the city’s Annual Audit Report for Calendar Year 2021.
The local government said the rating was based on the statement of financial position of the city government as of December 31, 2021, as well as the statement of financial performance, statement of changes in net assets or equity, and statement of cash flows for the years then ended, and notes to the financial statements which include a summary of significant accounting policies.
“We are grateful to have satisfied the requirements of the auditors,” said Mayor Carmelita Abalos.
“This assures that the city’s financial statements are well managed so that basic services to constituents are delivered effectively and efficiently despite the second year of the pandemic,” she added.
An unmodified or unqualified opinion is the highest mark issued by the COA after its auditors conclude that the financial statements submitted by a local government unit (LGU) or agency follow the International Public Sector Accounting Standards (IPSAS).
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