For the 11th consecutive year, the Intellectual Property Office of the Philippines (IPOPHL) has maintained an “unqualified or unmodified opinion” from the Commission on Audit (COA) for its 2023 financial statements.

The COA’s Independent Auditor’s Report confirmed that IPOPHL’s financial statements “present fairly, in all material respects, the financial position of the IPOPHL as of 31 December 2023.” The report also affirmed the accuracy of IPOPHL’s financial performance, cash flows, changes in net assets and equity, and budget comparisons for the year, including significant accounting policies.

An unmodified opinion from COA signifies that the financial statements are free from material misstatements and comply with International Public Sector Accounting Standards, ensuring transparency and accountability in government operations. COA’s audits are conducted in accordance with International Standards of Supreme Audit Institutions, a global benchmark for public sector auditing.

“This achievement reflects the values of FMAS and the entire IPOPHL in upholding exemplary financial governance and enhancing service quality for over a decade. As a financially independent government agency, we are proud of this eleven-year streak of positive findings—a testament to our dedication to integrity and diligence,” said IPOPHL Director General Rowel S. Barba.