MANILA, (PIA) — Makati City announced its receipt of an unmodified opinion from the Commission on Audit (COA) for the seventh consecutive year, attributing the achievement to advancements in technology that have improved financial transparency and efficiency.
“This COA opinion validates our unwavering commitment to good governance and its hallmarks, particularly transparency and accountability,” Mayor Abby Binay said Thursday.
An unmodified opinion is the highest audit rating an LGU can receive, indicating that its financial statements are presented fairly and in accordance with accounting standards.
Binay commended all sectors within the city government for their cooperation, particularly the finance department, for ensuring proper program implementation and service delivery.
The mayor highlighted the crucial role of technological advancements in achieving this milestone. Makati City has implemented online payment platforms for various transactions, including tax payments, social program disbursements, and employee salaries.
This year, the city is set to launch an Accounting Information System (AIS) designed to further streamline accounting processes, enhance transparency, and generate real-time financial reports for better decision-making.
Makati City’s commitment to financial excellence extends to its personnel. The city holds the distinction of being the first LGU in the country accredited by the Professional Regulation Commission (PRC) as a Continuing Professional Development (CPD) provider for accountants.
This accreditation ensures that city government employees with accounting backgrounds stay updated on the latest policies and regulations, contributing to a more qualified and efficient workforce.
Binay also credited the CPD program for attracting and retaining Certified Public Accountants (CPAs) within the city government.
Moreover, Makati City’s strong financial management has garnered recognition beyond the COA opinion. The city recently received its second Excellence Award from the Philippine Association of Local Government Accountants (PhALGA) and has been acknowledged by the Association of Government Accountants of the Philippines (AGAP) for the past six years.
These accolades solidify Makati City’s position as a leader in responsible financial management and transparency within the Philippine local government landscape. (JEG/PIA-NCR)
