BOC earns first COA top evaluation in 20 years

0
375
BOC earns first COA top evaluation in 20 years
Customs commissioner Bienvenido Rubio receives the evaluation rating from officials of the Commission on Audit. Photo from the Bureau of Customs.
  • The Bureau of Customs receives ‘unmodified opinion’ from Commission on Audit for its financial statements
  • This is the highest evaluation granted by COA to government agencies, indicating strict internal controls and ensuring the accuracy and integrity of the financial statements
  • The rating is in line with BOC’s full compliance with the International Public Sector Accounting Standards
  • This is the BOC’s highest audit compliance in two decades

The Bureau of Customs (BOC) earned its first top Commission on Audit (COA) evaluation in 20 years.

The bureau in a statement said it received an “unmodified opinion,” also known as an “unqualified opinion,” from the COA on its financial statements. This is the highest evaluation granted by COA to government agencies, indicating strict internal controls and ensuring the accuracy and integrity of the financial statements.

The rating is in line with BOC’s full compliance with the International Public Sector Accounting Standards.

Unqualified opinion is issued by COA when the auditor government concludes that the financial statements are prepared, in all material respects, following the applicable financial reporting framework, according to commission.

Customs Commissioner Bienvenido Rubio commended the performance of BOC personnel saying, “After more than two decades, we have been recognized for our audit compliance.”

The BOC leadership cited the accounting division of the Internal Administration Group, the revenue accounting division of the Revenue Collection Monitoring Group, and the collection districts for their “diligent work.”

Rubio thanked the COA auditors for their partnership in “effecting meaningful change” within the BOC. He also lauded their audit observation memoranda and audit findings, as a guide for the bureau’s proper management of public funds and resources.

BOC said it remains steadfast in upholding strong financial controls and delivering exceptional services to the public.

“This recognition from the COA reinforces the BOC’s unwavering commitment to transparency, accountability, and responsible stewardship of public resources,” the bureau said.

RELATED READ: BOC “inappropriately” tags 48,000 consumption entries: COA audit

RELATED ARTICLESMORE FROM AUTHOR