Home lending agency Pag-IBIG Fund recently
earned its 4th straight unqualified opinion from state auditors, a first in the
agency’s 35-year history.
“We in Pag-IBIG are elated to get the
fourth consecutive unqualified opinion from COA. We are truly honored to
receive another unqualified opinion for our financial statement for 2015. This
validates our pursuit of excellence and discipline in our operations. In the
last few years, we have always strived to show our now 16.2 million members
that their money is being managed professionally and with due regard for good
governance” said Pag-IBIG President and CEO Atty. Darlene Marie B. Berberabe.
On Friday (June 30), the Commission on
Audit (COA) transmitted a copy of the Annual Audit Report on Pag-IBIG Fund for
2015 and 2014. In the attached Independent Auditor’s Report penned by
Supervising Auditor Julia Ella Moreno, she stated that “in our opinion, the
financial statements presented fairly, in all material respects, the financial
position of the Home Development Mutual Fund (Pag-IBIG Fund) as
of December 31, 2015 and 2014, and of its
financial performance and its cash flows for the year then ended in accordance
with Philippine Financial Reporting Standards.”
An Unqualified Opinion is the best opinion
that the agency can get. According to COA’s Guidelines on the Preparation,
Submission, and Transmittal of the Annual Audit Report, an Unqualified Opinion
is given when the auditor is satisfied in all material respects, such that: the
financial statements have been prepared using acceptable accounting bases and
policies, which have been consistently applied; the statements comply with
statutory requirements and relevant regulations; the view presented by the
financial statements is consistent with the auditor’s knowledge of the audited
entity; and there is adequate disclosure of all material matters relevant to
the financial statements.
COA’s latest unqualified opinion for
Pag-IBIG’s financial statement is the sixth overall unqualified opinion
received by the state-owned housing agency in recent years. In 2007 and 2008,
it received back-to-back unqualified opinions, then for four consecutive years
since 2012.
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