OVP Secures Unmodified Opinion from COA for Fiscal Year 2024
MANILA, Philippines — The Office of the Vice President (OVP) has received an unmodified opinion from the Commission on Audit (COA) for fiscal year 2024, despite ongoing allegations regarding the misuse of confidential funds (CFs). This unmodified opinion confirms that the OVP’s financial statements fairly represent its financial position in accordance with established reporting standards.
An unmodified or unqualified opinion means the auditor believes the financial reports are free from material misstatements and comply with applicable frameworks. The COA’s thorough audit covered the OVP’s financial statements, including revenues, expenses, cash flows, changes in net assets, and budget comparisons as of December 31, 2024.
COA’s Detailed Audit and Findings
In a formal letter addressed to Vice President Sara Duterte, the COA stated, “In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of OVP as at December 31, 2024.” The commission emphasized that their audit followed the International Standards of Supreme Audit Institutions, providing a strong foundation for their unmodified opinion.
However, COA also clarified that an unmodified opinion does not imply the absence of any misstatements or uncorrected errors at year-end. This nuanced explanation highlights the complexity of government audits and the importance of ongoing oversight.
Past Audits and Controversies
The OVP had similarly received unmodified opinions from the COA in both 2022 and 2023. In 2022, former Vice President Leni Robredo led the office until Vice President Duterte assumed the role in June of that year. The continuous issuance of unmodified opinions shows consistent compliance with audit standards over multiple years.
Despite these audit results, Vice President Duterte’s office faced intense scrutiny last year over the alleged rapid spending of confidential funds in 2022. The House of Representatives’ committee on good government and public accountability launched investigations into the matter. Notably, Marikina 2nd District Representative Stella Quimbo revealed that the P125 million confidential fund allocated to the OVP was spent within just 11 days—a much shorter period than earlier reported.
Financial Overview and Future Outlook
The COA’s audit report for 2023, released in December, showed that the OVP’s confidential fund expenditures exceeded P375 million—triple the amount spent the year before, according to sources. This sharp increase continues to fuel public discussion about the management of government funds.
While the unmodified opinion signals that the OVP’s financial statements meet audit standards, the ongoing debates and investigations remind the public and officials alike of the need for transparency and accountability in handling public resources.
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