DHSUD receives ‘unmodified opinion’ from COA

The Department of Human Settlements and Urban Development (DHSUD) announced on Thursday that it received an unmodified opinion from the Commission on Audit (COA) for the first time.

In a letter dated 30 July, 2024, COA transmitted its Annual Audit Report on DHSUD for 2023. The report includes the Independent Auditor’s Report, Audited Financial Statement, Observations and corresponding Recommendations, and the Status of Implementation of Prior Year’s Audit Recommendations. This comprehensive report provides a detailed overview of DHSUD’s financial activities and the effectiveness of its financial management practices.

“We are proud of this achievement as this opinion 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.

"It also underscores DHSUD’s commitment to maintaining high standards of financial integrity and transparency,” he added.

In its Independent Audit Report, COA’s opinion stated, “the accompanying financial statements present fairly, in all material respects, the financial position of DHSUD as [of] December 31, 2023, and its financial performance, cash flows, and changes in net assets/equity for the year then ended, and notes to the financial statements, in accordance with International Public Sector Accounting Standards.” The audit verified the accuracy and reliability of DHSUD’s financial reporting.

Acuzar highlighted the unmodified opinion from COA as evidence of DHSUD’s commitment to good governance, saying, “isa po itong matibay na patunay na ang aming mga transakyon at serbisyo ay tapat at mahusay. Naniniwala po kami na mahalaga ang ulat na ito upang lalong tumibay pa ang trust and confidence ng taumbayan sa DHSUD.”

The housing chief added that DHSUD’s commitment to the Bagong Pilipinas brand of governance is evident in its pursuit of financial transparency and accountability. By adhering to international accounting standards and ensuring the accuracy of its financial reporting, he hopes to set a positive example for other government agencies.

"I commend all DHSUD staff members and officials, especially the Finance Service under the management and supervision of Undersecretary Randy Escolango, for this accomplishment. Let's build up on this win and sustain the momentum to better serve Filipinos," Acuzar concluded.