The Pag-IBIG Fund has received an “Unmodified Opinion” from the Commission on Audit (CoA) for the 12th consecutive year, a milestone that was announced on Tuesday.

In a letter dated 21 June, state auditors informed the agency of their “unmodified opinion” on the fairness of Pag-IBIG Fund’s financial statements for 2023.

An “unmodified opinion” is an audit opinion issued by an auditor indicating that they had concluded that the financial statements of a company were presented fairly, in all material respects, following the applicable financial reporting framework.

“This recognition from the CoA, which Pag-IBIG Fund has now earned for 12 consecutive years, underscores our steadfast commitment to excellence and integrity in managing our members’ funds. We remain dedicated to our mandate of providing secure savings and shelter financing, aligned with the vision of President Ferdinand Marcos Jr. to enhance the quality of life for Filipinos,” said Secretary Jose Rizalino L. Acuzar, head of the Department of Human Settlements and Urban Development and chairman of the 11-member Pag-IBIG Fund board of trustees.

Pag-IBIG Fund had received CoA’s “unqualified opinion” from 2012 to 2017 and “unmodified opinion” from 2018 to 2023.

Marilene C. Acosta, chief executive officer of Pag-IBIG Fund, highlighted the state auditors’ findings as a reflection of the agency’s outstanding performance in 2023.

“Pag-IBIG Fund achieved numerous milestones in 2023. Our financial position remains robust, with a record-high net income before MP2 returns totaling P49.79 billion. Additionally, Pag-IBIG Fund set new housing records by disbursing a total of P126.04 billion in housing loan takeouts, marking the highest annual disbursement in our 43-year history. This enabled 96,848 members to acquire new or improved homes. Membership savings collections also reached a record high of P89.26 billion. Consequently, Pag-IBIG Fund declared P48.76 billion in dividends, the highest in our history, distributed to members as earnings on their savings for the year,” Acosta said.

“Earning an unmodified opinion for the 12th consecutive year further underscores our ability to achieve an exceptional performance while upholding the highest standards of financial integrity. Our members and stakeholders can be assured that we will continue to be a reliable partner and uphold our commitment to provide ‘Tapat na Serbisyo, Mula sa Puso,’” she added.