The Metropolitan Manila Development Authority (MMDA) has received an unqualified opinion from the Commission on Audit (CoA) for the fifth consecutive year, reflecting the agency’s “sound financial management.”
MMDA acting chairman Atty. Don Artes expressed his gratitude to CoA for the highest audit rating for fiscal year 2023, citing the agency’s commitment to reforms in its budgetary processes, expenditures, and financial reporting, while also improving the quality of its services.
“We, at MMDA, are immensely grateful to the CoA for acknowledging the agency’s enacted reforms. We are proud of the five-year streak of unqualified opinions we have received. This audit assessment serves as tangible evidence of the MMDA’s forthright administration in financial performance,” Artes said.
“I would also like to express my gratitude to the MMDA officials and employees for their diligent efforts in ensuring the efficient implementation of the agency’s services for the public’s benefit,” Artes added.
The Independent Auditor’s Report, transmitted by the CoA to MMDA, stated, “In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the MMDA as of 31 December 2023, and its financial performance, changes in net assets/equity, cash flows, and the comparison of budget and actual amounts for the year then ended in accordance with International Public Sector Accounting Standards.”
“We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion,” the report added.