COA gives Quezon province recognition for best audit rating

Quezon Gov. Helen Tan FILE PHOTO

LUCENA City — The Provincial Government of Quezon has achieved the highest “Audit Rating” bestowed by the Commission on Audit (COA) for the first time in its history.

The “Audit Rating,” known as an “unqualified opinion” or “unmodified opinion,” represents the highest recognition given to a government agency following an extensive examination and investigation conducted by COA. Quezon Province earned this prestigious recognition for its financial statement for the fiscal year 2022.

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Quezon Provincial Governor, Dr. Helen Tan, expressed her deep appreciation for the acknowledgment from COA, emphasizing that the province’s exemplary audit rating attests to its responsible management and meticulous handling of public funds.

According to COA’s letter addressed to Gov. Tan’s office on May 2, 2023, “an unmodified opinion, also referred to as an unqualified opinion, is conferred when the state auditor determines that the financial statement submitted by an agency is accurate and complies with the applicable financial reporting framework.”

Conversely, a modified or qualified opinion is issued when the auditor identifies instances where the financial statement as a whole contains “material misstatement.” Consequently, the auditor must include a remark indicating a “qualified, adverse, and disclaimer of opinion” in the audit report.

The Audit Team meticulously prepared the Annual Audit Report (AAR) for the accounts and operations of the Quezon Provincial Government, covering the period ending on December 31, 2022. The team, led by Christopher H. Perez, OIC-Supervising Auditor, and Audit Team Leader, included April Abbey, Joy C. Luces, and Fernando T. Barretto.

In addition to scrutinizing agencies’ financial statements, the AAR encompasses an evaluation of the provincial government’s performance for a year. This evaluation includes an assessment of its compliance with relevant laws and adherence to principles of efficiency, effectiveness, and economy in implementing programs, projects, and significant transactions, including procurements.

Moreover, the Independent Auditor’s Report, sent by COA to Gov. Tan’s office on April 5, 2023, and signed by Christopher Perez, OIC-Supervising Auditor and Audit Team Leader, confirms that the audit was conducted following the International Standards of Supreme Audit Institutions (ISSAIs).

The Independent Auditor’s Report provides further insight into the basis for granting Quezon the highest Audit Rating by COA.

“Our responsibilities under those standards are described in the Auditor’s Responsibilities for the Audit of the Financial Statement sections of our report. We are independent of the agency in accordance with the ethical requirements that are relevant to our audit of the financial statement, and we have fulfilled our ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.”

Governor Tan expressed her delight with this outstanding rating and her hope that Quezon Province will continue to strive for excellence and maintain this achievement in the years to come.