Makati receives seventh consecutive highest audit rating from COA

INQUIRER FILE PHOTO

Makati City has received an “unmodified opinion” from the Commission on Audit (COA) for the seventh year in a row.

Mayor Abby Binay on Thursday welcomed the distinction and thanked the COA for its fair assessment of the city’s auditing and financial declarations.

“We did it again! The COA opinion validates our unwavering commitment to good governance and its hallmarks, particularly transparency and accountability,” she said.

“This latest achievement is largely a result of the collective effort of all sectors comprising the city government organization. I would like to thank everyone for giving their full cooperation to the Finance sector to ensure that everything, including program implementation and service delivery, is above board,” she added.

According to the COA, local government units can be given an unmodified opinion when the “auditor concludes that the financial statements are prepared in all material respects, in accordance with the applicable financial reporting framework.”

READ: Makati gets highest rating from COA

Binay also attributed the highest audit rating to the city’s technological innovations that aid payments and transactions. The local government also plans to establish an Accounting Information System that supports operations and promotes transparency in financial transactions.

READ: Financial management info system to enhance transactions with gov’t offices

“We have effectively utilized online payment platforms for transactions with various clients. These include payments for taxes and fees, distribution of cash incentives and assistance, and payment of salaries and bonuses of city hall personnel, among others,” she said.

Makati was also recently awarded its second Excellence Award from the Philippine Association of Local Government Accountants.