On December 1, the Commission on Audit (COA) published the Executive Summary and full report of the Office of the Vice President’s (OVP) Annual Audit Report (AAR) for Calendar Year (CY) 2024. The audit’s primary objectives were to ascertain the level of assurance on the financial statements, determine the propriety of transactions and compliance with applicable laws, and recommend improvement opportunities for the agency.
The audit covered the accounts and operations of the OVP for Calendar Year (CY) 2024. The Auditor’s Report is dated as of May 16, 2025, a press release from the Office of the Vice President said.
The significant audit observations and corresponding recommendations were discussed with OVP Management Officials during an exit conference held on May 16. The OVP highlights that there were no findings of loss or wastage of government funds or property in the audit, and all issues raised were primarily administrative in nature and management agreed to implement all corresponding recommendations to address the observations for CY 2024.
In conclusion, the Auditor rendered an unmodified opinion on the fairness of presentation of the financial statements of the OVP as at December 31, 2024. An unmodified opinion is the highest level of assurance, meaning the financial statements are presented fairly in all material respects.*
