Philstar.com
October 26, 2024 | 12:00pm
MANILA, Philippines — The Commission on Audit (COA) and the World Bank held a meeting last October 23 to forge stronger collaboration in enhancing accountability processes in government and showcasing COA’s best audit practices globally.
COA chairperson Gamaliel Cordoba led the COA delegation in a meeting with World Bank senior financial management specialists led by Patrick Piker Umah Tete.
Cordoba said he was looking forward to stronger collaboration with the World Bank especially in the area of digitalization in the conduct of audit. COA assistant commissioners Alexander Juliano, Adela Dondonilla, Roy Ursal and Lito Martin, and director Haide Espuelas also participated.
The World Bank acknowledged COA’s excellent audit work and noted that as a Supreme Audit Institution, COA is leading globally especially with the uniqueness of its Citizen Participatory Audit (CPA) program.
The World Bank expressed its willingness to reengage with COA to see how the CPA has evolved after being institutionalized and how it limits risk exposure and enhance accountability.
The World Bank and COA will also work together to improve audit of World Bank-funded projects, boost internal audit functions across government and other Accounting and Auditing reform initiatives under the Public Financial Management Reform Roadmap.
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