The Biñan City government has received an “unmodified opinion” from the Commission on Audit (COA) for their 2021 financial statements.
An “unmodified opinion” is considered the highest audit opinion that COA can render to a government agency or corporation. It is given when auditors conclude that the financial statements as a whole are free from material misstatements.
According to the Independent Auditor’s Report signed by Rodolfo M. Asuncion, Officer in Charge-Supervising Auditor, the financial statements of the City of Biñan were “in accordance with International Public Sector Accounting Standards (IPSASs).”
“We conducted our audit in accordance with International Standards of Supreme Audit Institutions (ISSAIs). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report,” Asuncion said.
“We are independent of the agency in accordance with the ethical requirements that are relevant to our audit of the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our unmodified opinion,” he said.
In a statement he sent out to media, Biñan City Mayor Walfredo “Arman” R. Dimaguila, Jr. said the rating is proof of the city government’s good and honest management of public funds.
“This is my last term as mayor and I assure you that we will work even harder. I am confident that all the department heads of the City government of Biñan will do the same,” he said.
He also thanked the city government employees for all their hard work.
“All the awards that we have received since we came into office in 2016 until today are the result of the joint efforts of all the local government departments. Thank you to all of you and to the city government employees,” Dimaguila added.