The Department of Human Settlements and Urban Development (DHSUD) announced on Thursday that it has received an unmodified opinion from the Commission on Audit (CoA) for the first time, reflecting the fair and transparent presentation of its financial position.

This milestone underscores DHSUD’s commitment to the “Bagong Pilipinas” brand of governance.

In a letter dated 30 July, CoA transmitted its annual audit report for DHSUD for 2023.

The report includes the Independent Auditor’s Report, the Audited Financial Statement, Observations and Recommendations, and the Status of Implementation of Prior Year’s Audit Recommendations.

This detailed report assesses DHSUD’s financial activities and management practices.

“We are proud of this achievement as it attests to the fair and transparent presentation of the Department’s financial position, aligning with President Ferdinand Marcos Jr.’s Bagong Pilipinas brand of governance,” said DHSUD Secretary Jose Rizalino Acuzar.

The CoA’s Independent Audit Report noted that the financial statements of DHSUD fairly represent its financial position as of 31 December, including financial performance, cash flows, and changes in net assets, in accordance with International Public Sector Accounting Standards. The audit examined the accuracy and reliability of DHSUD’s financial reporting.

The audit aimed to evaluate the management’s assertions on financial statements, the propriety of transactions, compliance with laws and regulations, and to recommend improvements. It also reviewed the extent to which prior audit recommendations were implemented.

CoA acknowledged DHSUD’s cooperation, which facilitated a smooth audit process.

Acuzar highlighted this as proof of the Department’s commitment to good governance and expressed gratitude for the support from DHSUD staff, especially the Finance Service led by Undersecretary Randy Escolango.

“This unmodified opinion is a strong testament to the integrity and efficiency of our transactions and services. We believe this report will strengthen public trust in DHSUD,” Acuzar said.

He emphasized that the Department’s commitment to financial transparency and accountability is part of its broader efforts to adhere to international accounting standards and set an example for other government agencies.

Acuzar concluded, “This achievement reflects the hard work and dedication of DHSUD’s management and staff. We will build on this success and sustain our momentum to better serve Filipinos.”