MANILA – The Department of Human Settlements and Urban Development (DHSUD) has snatched for the first time an unmodified opinion from the Commission on Audit (COA), attesting to the fair and transparent presentation of the Department's financial position - a milestone to its commitment to the Bagong Pilipinas brand of governance.
In a letter dated July 30, 2024, COA transmitted its Annual Audit Report on DHSUD for 2023.
The report includes the Independent Auditor’s Report, Audited Financial Statement, Observations and corresponding Recommendations, and the Status of Implementation of Prior Year’s Audit Recommendations.
This comprehensive report provides a detailed overview of DHSUD’s financial activities and the effectiveness of its financial management practices.
“We are proud of this achievement as this opinion attests to the fair and transparent presentation of the Department’s financial position, aligning with President Ferdinand Marcos Jr.’s Bagong Pilipinas brand of governance," DHSUD Secretary Jose Rizalino Acuzar said in a news release on Thursday.
"It also underscores DHSUD’s commitment to maintaining high standards of financial integrity and transparency,” he said.
In its Independent Audit Report, COA’s opinion read “the accompanying financial statements present fairly, in all material respects, the financial position of DHSUD as [of] December 31, 2023, and its financial performance, cash flows, and changes in net assets/equity for the year then ended, and notes to the financial statements, in accordance with International Public Sector Accounting Standards.”
The audit checked the accuracy and reliability of DHSUD’s financial reporting.
Last year's audit was done to ascertain the DHSUD's level of assurance that may be placed on the management's assertion on the financial statements and to determine the propriety of transactions and extent of compliance to applicable laws, rules and regulations. It also intended to recommend the agency's improvement opportunities and to determine the extent of implementation of prior year's audit.
COA has expressed its appreciation for the invaluable support and cooperation that DHSUD has extended to the audit team, as it facilitated a smooth and effective audit process.
Acuzar touted the unmodified opinion from COA as a testament to DHSUD’s efforts to uphold the principles of good governance.
“Isa po itong matibay na patunay na ang aming mga transaksyon at serbisyo ay tapat at mahusay. Naniniwala po kami na mahalaga ang ulat na ito upang lalong tumibay pa ang trust and confidence ng taumbayan sa DHSUD (This is a solid proof that our transactions and services are honest and efficient. We believe that this report is important to further strengthen the trust and confidence of the people in DHSUD),” he said.
He said DHSUD’s commitment to the Bagong Pilipinas brand of governance is evident in its pursuit of financial transparency and accountability.
By adhering to international accounting standards and ensuring the accuracy of its financial reporting, Acuzar hopes to set a positive example for other government agencies.
“Apart from our dedication to financial transparency, accountability and good governance, this milestone is a testament to the hard work and commitment of DHSUD’s management and staff in ensuring the integrity of our overall performance,” he said.
"I commend all DHSUD staff members and officials, especially the Finance Service under the management and supervision of Undersecretary Randy Escolango, for this accomplishment. Let's build up on this win and sustain the momentum to better serve Filipinos," he said. (PR)
