MANILA, Philippines — For the first time, the Department of Human Settlements and Urban Development (DHSUD) received an unmodified opinion from the Commission on Audit (COA) for being transparent in its financial position.
“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 Rizalino Acuzar said in a statement.
Acuzar credited the agency’s high mark to its dedicated and competent officials and employees especially from its Finance Service Division.
In a letter dated July 30, 2024, COA transmitted its Annual Audit Report on DHSUD for 2023, containing audited financial statements, observations and corresponding recommendations and the status of implementation of prior year’s audit recommendations.
It also provides a detailed review on DHSUD’s financial activities and the effectiveness of its financial management practices.
In its report, COA said the “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.”
Last year’s audit was conducted to ascertain the agency’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.
“Let’s build up on this win and sustain the momentum to better serve Filipinos,” Acuzar said.
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