Quezon City has once again earned the highest audit rating from the Commission on Audit (COA), marking the sixth consecutive year the city has achieved this distinction. The COA issued an 'Unmodified Opinion' on the city's financial statements, signifying that the records are accurate, complete, and compliant with accounting standards.
What the Unmodified Opinion Means
According to the COA, an Unmodified Opinion indicates that the financial statements of a local government unit are fairly presented and adhere to prescribed accounting standards. This rating reflects sound fund management, strengthened internal controls, and proper use of public funds.
Quezon City Mayor Joy Belmonte attributed the achievement to the discipline and hard work of city employees in managing the funds entrusted by QCitizens. 'This recognition is a result of the dedication and integrity of our workforce,' she said.
Challenge to Improve Further
The mayor added that the rating serves as a challenge for the city to further enhance its systems and improve public service delivery. The city government emphasized that the result demonstrates its commitment to transparency and accountability in handling public finances.
