MANILA, Philippines — The Office of the Vice President (OVP) and the Metropolitan Manila Development Authority (MMDA) (MMDA) has been cited by the Commission on Audit (COA) for complying with applicable and fair accounting rules and financial reporting standards.
The OVP earned its fourth consecutive unmodified opinion and MMDA its seventh in 2025.
The OVP opinion comes days before Vice President Sara Duterte's impeachment trial in which one of the charges filed against her is her alleged misuse of her confidential and intelligence funds.
According to the COA report sent to the OVP on May 15, the financial statements of the OVP present fairly "the financial position of OVP as at Dec. 31, 2025, and its financial performance, cash flows, changes in net assets/equity, and comparison of budget and actual amounts for the year then ended,"
The OVP reported a 92.32 percent utilization rate of its 2025 General Appropriations Act (GAA) budget, which it said reflected "prudent fiscal management despite expanded operations and increasing demand for its public service programs,"
In a statement, the OVP said that the fourth consecutive unmodified opinion underscored its sustained commitment to transparency, accountability, and responsible stewardship of public funds, while reinforcing its adherence to the principles of good governance and sound financial management.
MMDA Chairman Don Artes welcomed the latest audit result, saying it reflects the agency’s continued commitment to transparency, accountability and sound financial management.
“Receiving our seventh consecutive unmodified opinion from the COA is a testament to the unwavering dedication of our workforce. This milestone reinforces our agency’s commitment to the highest standards of public governance, ensuring that every peso entrusted to us is managed with integrity,” Artes said.
In its Independent Auditor’s Report, the COA said the MMDA’s financial statements “present fairly, in all material respects,” the agency’s financial position as of Dec. 31, 2025, as well as its financial performance, changes in net assets or equity, cash flows, and the comparison of budget and actual amounts for the year, in accordance with the International Public Sector Accounting Standards (IPSAS).
State auditors also said the audit was conducted in accordance with the International Standards of Supreme Audit Institutions and that the audit evidence obtained was sufficient and appropriate to support the unmodified opinion.
The MMDA said reforms in its financial reporting began during Artes’ tenure as assistant general manager for finance and administration under former chairmen Danilo Lim and Benhur Abalos and have continued since he became chairman.
An unmodified, or unqualified, opinion by the COA signifies that an agency's financial statements are fairly presented in accordance with the prescribed financial reporting framework, including the IPSAS and the International Standards of Supreme Audit Institutions (ISSAIs).
