• 07/17/2019
  • 12:19 PM
League Online News
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MAKATI LGU BAGS HIGHEST AUDIT RATING ANEW



MAKATI CITY – Makati City Mayor Abigail Binay announced that the local government bagged again an “unmodified opinion” – or the highest audit rating – from the Commission on Audit (COA) in its Annual Audit Report on the city’s financial statements for 2018.

In her transmittal dated June 25, 2019, COA Director Adelina Concepcion Ancajas rendered an unmodified opinion on the fairness of presentation of the financial statements of the city.

An “unmodified opinion”, also called “unqualified opinion,” is the highest audit rating that can be rendered by an auditor after concluding that the financial statements of the audited entity are presented fairly and in conformity with generally accepted accounting principles.

The mayor expressed her elation over the positive audit rating gained by the city for 2018, and thanked COA for its fair evaluation.

“I am deeply heartened by this good news from the Commission on Audit. This second unmodified opinion shows that we have remained on course in espousing the principles of good governance, including transparency and accountability,” Binay said.

The mayor also thanked the various agencies of the city government for their support and cooperation in ensuring full compliance with laws on the disbursement of government funds and implementation of programs and projects.

“Getting an unmodified opinion for two years in a row is a rare achievement, and I am proud to share the honors with my fellow city officials and public servants of the City of Makati,” she added.

For the past three years, the city government has implemented reforms aimed to enhance transparency and efficiency in the systems and operations at the city hall, including a Business One-Stop Shop (BOSS) at the ground floor of Makati City Hall Building II that has served as a common site to process applications and payments and issue licenses, clearances and permits.

The city is also pursuing a ‘no-contact’ policy being pushed by the mayor to eliminate fixers and curtail corruption and abusive practices, particularly in the processing of permits.

Currently being developed is an enhanced business permit and licensing system or e-BPLS, a computerized system that will provide easy access to business permits through different platforms.

Binay’s first term had been marked with other notable achievements, including posting a two-digit increase in revenue collections in 2017 for the first time after 12 years of one-digit gains. The city has also consistently surpassed its revenue targets for the past three years.

After several years, Makati reclaimed its title as the country’s richest local government unit after its assets reached P196.57 billion, making it the first LGU to breach the P100-billion mark.

 

The city Accounting Department was named one of the Most Outstanding Accounting Offices by the Association of Government Accountants of the Philippines. .(JL/LON)

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